Garuda Construction and Engineering Limited (MAINBOARD)
Oct 8, 2024 - Oct 10, 2024
| Price | ₹90 - ₹95 |
| Premium | ₹0 |
|---|---|
| Lot size | 157 |
| Allotment | Oct 11, 2024 |
| Listing | Oct 15, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 157 | 14915 | 61975 |
| sHNI | 14 | 2198 | 208810 | 632 |
| bHNI | 68 | 10676 | 1014220 | 1265 |
Last updated on 10-Oct-2024 18:35:02
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 6004862 | 7471316 | 1.24 |
| HNIs | 4170000 | 37669952 | 9.03 |
| HNIs 10+ | 2780000 | 22055360 | 7.93 |
| HNIs 2+ | 1390000 | 15614592 | 11.23 |
| Retail | 9730000 | 105203031 | 10.81 |
| Total | 19904862 | 150344299 | 7.55 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 1265 | 1935 | 1.53 |
| HNIs (2-10L) | 632 | 6392 | 10.11 |
| Retail | 61975 | 696675 | 11.24 |
| Total Applications: 705002 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 57.05 | 70.98 | 1.24 |
| FIIs | - | 68.32 | - |
| DIIs | - | 0.06 | - |
| Mutual funds | - | 0 | - |
| Others | - | 2.59 | - |
| HNIs | 39.62 | 357.86 | 9.03 |
| HNIs 10+ | 26.41 | 209.53 | 7.93 |
| HNIs 2+ | 13.21 | 148.34 | 11.23 |
| Retail | 92.44 | 999.43 | 10.81 |
| Total | 189.1 | 1428.27 | 7.55 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹0.16 | @8% ₹0.18 | @9% ₹0.2 | @10% ₹0.23 | @11% ₹0.25 | @12% ₹0.27 |
Garuda Construction and Engineering IPO Details
| Issue Size | 27,800,000 shares (aggregating up to ₹264.10 Cr) |
| Fresh Issue | 18,300,000 shares (aggregating up to ₹173.85 Cr) |
| Offer for Sale | 9,500,000 shares of ₹5 (aggregating up to ₹90.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 74,741,742 |
| Share holding post issue | 93,041,742 |
Garuda Construction and Engineering IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Offer |
Key Performance Indicator
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 36.14% | 65.59% | 57.97% |
| ROCE | 46.69% | 70.85% | 40.46% |
| RONW | 30.62% | 49.38% | 44.94% |
| EPS (basic) | 4.87 | 5.46 | 2.51 |
| P/E Pre IPO | 19.49 | ||
| P/E Post IPO | 21.03 |
Company Financials
Garuda Construction and Engineering Limited Financial Information (Restated)
Garuda Construction and Engineering Limited's revenue decreased by -4% and profit after tax (PAT) dropped by -11% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period | Apr 2024 | Mar 2024 | Mar 2023 | Mar 2022 | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | 234.84 | 228.49 | 176.35 | 111.03 | ||||||||||||||||||||||||||||||||||||
| Revenue | 11.88 | 154.47 | 161.02 | 77.03 | ||||||||||||||||||||||||||||||||||||
| Profit | 3.5 | 36.44 | 40.8 | 18.78 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 122.51 | 119.01 | 82.61 | 41.79 | ||||||||||||||||||||||||||||||||||||
| Reserves | 85.16 | 81.65 | 70.13 | 29.34 | ||||||||||||||||||||||||||||||||||||
| Borrowing | 0.15 | 0.15 | 0.19 | 11.99 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
About Company
Garuda Construction and Engineering Limited, founded in 2010, is a construction company that offers a wide range of services across various sectors, including residential, commercial, mixed-use residential /commercial, infrastructure, and industrial projects. In addition to core construction services, the company also provides specialized services such as operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP) services, and finishing works. Garuda extends its expertise to infrastructure and hospitality projects, ensuring comprehensive project execution. As of September 28, 2024, the company had 65 permanent employees, supporting its diverse service offerings.
Corpwis Advisors Private Limited
Focused Business Approach: The Company specializes in residential and commercial construction and is expanding into industrial and infrastructure projects, demonstrating strategic growth.
Proven Track Record: With successful projects like the Golden Chariot hotels and multiple residential developments in MMR, the company has a strong history of delivering quality work.
Project Management Expertise: The Company’s strong execution and management capabilities enable it to efficiently complete projects across various regions, including MMR, Karnataka, and Tamil Nadu.
Client Concentration: The company's total revenue is heavily dependent on its top 10 clients, primarily promoter-related entities, making it vulnerable to significant financial impact if any major client is lost.
Limited Third-Party Experience: With limited experience working with unrelated third-party clients, the company's growth may be constrained if it cannot expand beyond its promoter group and associated companies.
Cyclical Industry: The construction industry is highly sensitive to economic fluctuations, and downturns could adversely affect the company’s operations and financial performance.
Phone: +91-22-4918 6270
Email: garudaconstructions.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html