Garuda Construction and Engineering IPO last day: Check GMP, review and other details – IPO News

The IPO of Garuda Construction and Engineering will close on October 10th. The IPO was subscribed 6.63 times more than the shares offered. The retail segment was counted 9.9 times, while the NII category was counted 6.8 times. Qualitative institutional buyers subscribed to the issue 1.13 times. The IPO was fully subscribed on the first day, 1.96 times. On the first day, retail buyers booked the issue 3.5 times.

Garuda Construction IPO GMP

The company’s shares showed no premium or discount on the gray market, indicating a lack of interest in the shares. The gray market is an unregulated market where shares illegally change hands before being listed. Investors keep an eye on GMP to track listing gains.

Garuda Construção e Engenharia IPO details

Garuda Construction and Engineering launched its IPO on October 8. The company raised an amount of Rs 264.10 crore through a combination of new shares as well as an offer for sale. The company did not raise funds through anchor placement. Funds raised will be used to fund working capital needs, other general corporate expenses and unidentified inorganic acquisitions.

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Garuda Construction IPO Price Range, Distribution and Listing

The company’s IPO price range is between Rs 92 and Rs 95 per share. The distribution of shares is expected to be completed on October 11th. The company’s listing on NSE and BSE is likely to be on October 15. A retail buyer needs to bid for at least one lot, containing 157 shares, which is equivalent to Rs 14,915. Corpwis Advisors is the sole book runner for the IPO and Link Intime India is the registrar.

About Garuda Construction and Engineering

The company’s primary focus is the civil construction of residential and commercial buildings with a track record of successfully executing a diverse mix of construction projects i.e. residential, hotel and commercial projects with visible growth through increased order book and strong project management and execution capabilities to meet your objectives. projects on schedule while maintaining high construction quality.

Expert opinion on Garuda construction and engineering

“At the upper end of the price range, the company is pricing at a P/E of 24.28x, with a market capitalization of Rs 883.9 crore post issue of shares and a return on equity of 36.14%. We believe the IPO is fully priced and recommend an “Underwriting – Long Term” rating for the IPO,” Anand Rathi Research said in an IPO note.