Garuda Construction IPO Details: The Garuda Construction IPO is set to open on October 8, 2024, and will conclude on October 10, 2024. This offering is a Book Built Issue, aiming to raise approximately ₹264.10 crores, which includes a fresh issue of ₹173.85 crores along with an offer for sale of up to 9.5 million equity shares, each with a face value of ₹5.
The price band for the Garuda Construction IPO is set between ₹92 and ₹95 per share. The allocation of shares is structured as follows: 35% for retail investors, 50% for qualified institutional buyers (QIB), and 15% for high-net-worth individuals (HNI). The shares are expected to be listed on both the BSE and NSE on October 15, 2024, with the allotment date scheduled for October 11, 2024.
In terms of financial performance, Garuda Construction reported revenues of ₹154.47 crores in 2024, a slight decrease from ₹161.02 crores in 2023. Additionally, the company’s profit for 2024 was ₹36.44 crores, down from ₹40.80 crores the previous year. Given these financials, IPO investors are encouraged to consider this offering for long-term investment.
Garuda Construction IPO Objectives:
The Company proposes to utilize the funds being raised to fund the following objectives:
- Working Capital Requirements
- General Corporate Expenses and Unidentified Inorganic Acquisitions
Garuda Construction IPO Review (Apply or Not)
- Update soon
Garuda Construction IPO Date & Price Band Details:
| IPO Open Date: | October 8, 2024 |
| IPO Close Date: | October 10, 2024 |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹92 to ₹95 Per Share |
| Issue Size: | Approx ₹264.10 Crores, 27,800,000 Equity Shares |
| Fresh Issue: | Approx ₹173.85 Crores, 18,300,000 Equity Shares |
| Offer for Sale: | Approx ₹90.25 Crores, 95,00,000 Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Garuda Construction IPO Lot Size:
The minimum market lot for the Garuda Construction IPO is 157 shares, requiring an application amount of ₹14,915. Retail investors have the option to apply for a maximum of 13 lots, which totals 2,041 shares or an investment of ₹193,895.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 157 | ₹14,915 |
| Retail Maximum | 13 | 2041 | ₹193,895 |
| S-HNI Minimum | 14 | 2,198 | ₹208,810 |
| B-HNI Minimum | 68 | 10,676 | ₹1,014,220 |
Garuda Construction IPO Timeline:
The Garuda Construction IPO will open on October 8 and close on October 10. The allotment of shares will be finalized on October 11, with the listing scheduled for October 15.
| IPO Open Date: | October 8, 2024 |
| IPO Close Date: | October 10, 2024 |
| Basis of Allotment: | October 11, 2024 |
| Refunds: | October 14, 2024 |
| Credit to Demat Account: | October 14, 2024 |
| IPO Listing Date: | October 15, 2024 |
Garuda Construction IPO GMP Today:
GMP for Garuda Construction and Engineering IPO has not started yet. We are updating the GMP information on a daily basis. Please visit us again soon for the latest GMP updates.
Promoters of Garuda Construction IPO
The promoters of Garuda Construction include Pravinkumar Brijendra Kumar Agarwal, PKH Ventures Limited, and Makindian Township Private Limited.
About Garuda Construction IPO
Garuda Construction is based at 201, A Wing, Fortune 2000 C 3 Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051, Maharashtra. The company specializes in providing comprehensive construction services for various projects, including residential, commercial, infrastructure, and industrial developments. Their civil construction services encompass the building of residential, hospitality, industrial, and commercial structures, as well as concrete building frameworks.
In terms of financial performance, Garuda Construction reported revenue operations of ₹8,042.34 lakhs for the eight months ending November 30. For the preceding fiscal years, the company achieved revenues of ₹16,068.76 lakhs in Fiscal 2023, ₹7,702.08 lakhs in Fiscal 2022, and ₹7,195.52 lakhs in Fiscal 2021.
Founded as “Garuda Construction and Engineering Private Limited” on September 21, 2010, the company operates as a private limited entity under the provisions of the previous Companies Act of 1956, with a Certificate of Incorporation dated the same day. The primary focus of Garuda Construction is on ensuring customer satisfaction and fostering long-term relationships with its clients.
Garuda Construction IPO Company Financial Report
The company reported revenue of ₹154.47 crores in 2024 against ₹161.02 crore in 2023. The company reported profit of ₹36.44 crores in 2024 against profit of 40.80 crores in 2023.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹77.03 | ₹52.24 | ₹18.78 | ₹111.03 |
| 2023 | ₹161.02 | ₹105.94 | ₹40.80 | ₹176.35 |
| 2024 | ₹154.47 | ₹104.82 | ₹36.44 | ₹228.49 |
| April 2024 | ₹11.88 | ₹7.20 | ₹3.50 | ₹234.84 |
Garuda Construction IPO Valuation – FY2024
Check Garuda Construction IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 36.14% |
| ROCE: | 46.69% |
| EBITDA Margin: | 32.49% |
| PAT Margin: | 23.63% |
| Debt to equity ratio: | NA |
| Earning Per Share (EPS): | ₹4.87 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 30.62% |
| Net Asset Value (NAV): | ₹15.92 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| PSP Projects Limited | 34.16 | 20.00 | 17.73% | 254.13 | – Cr. |
| Capacite Infraprojects Limited | 16.09 | 23.61 | 9.35% | 223.44 | – Cr. |
| Vascon Engineers Limited | 3.05 | 22.66 | 11.32% | 44.33 | – Cr. |
| Ahluwalia Contracts (India) Limited | 55.95 | 22.97 | 17.14% | 238.84 | – Cr. |
| B L Kashyap & Sons Limited | 2.33 | 48.67 | 13.38% | 22.02 | – Cr. |
Garuda Construction IPO Registrar
Link Intime India Pvt Ltd
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Phone: +91 810 811 4949
Email: garudaconstructions.ipo@linkintime.co.in
Website: www.linkintime.co.in
IPO Lead Managers aka Merchant Bankers
- Corpwis Advisors Private Limited
Company Address
Garuda Construction and Engineering Limited
201, A Wing, Fortune 2000 C -3 Block, Bandra Kurla Complex,
Bandra (East), Mumbai 400 051, Maharashtra
Phone: +91 22 79635174
Email: compliance@garudaconstructionengineering.com
Website: www.garduaconstructionengineering.com
Garuda Construction and Engineering IPO FAQs
1. What are the opening and closing dates of the Garuda Construction IPO?
The Garuda Construction IPO will open on October 8, 2024, and close on October 10, 2024.
2. What is the minimum application amount for the IPO?
The minimum market lot for the Garuda Construction IPO is 157 shares, requiring an application amount of ₹14,915.
3. How many lots can retail investors apply for?
Retail investors can apply for a maximum of 13 lots, totaling 2,041 shares or an investment of ₹193,895.
4. When will the allotment of shares be finalized?
The allotment of shares for the Garuda Construction IPO will be finalized on October 11, 2024.
5. When is the IPO expected to be listed?
The shares of Garuda Construction are expected to be listed on the BSE and NSE on October 15, 2024.
6. What is the price band for the Garuda Construction IPO?
The price band for the IPO is set between ₹92 and ₹95 per share.
7. Who are the promoters of Garuda Construction?
The promoters of Garuda Construction are Pravinkumar Brijendra Kumar Agarwal, PKH Ventures Limited, and Makindian Township Private Limited.
8. What services does Garuda Construction provide?
Garuda Construction offers end-to-end construction services for residential, commercial, infrastructure, and industrial projects, including the construction of various building types and concrete structures.
9. What were the company’s revenues in recent fiscal years?
The company reported revenues of ₹8,042.34 lakhs for the eight months ending November 30, ₹16,068.76 lakhs in Fiscal 2023, ₹7,702.08 lakhs in Fiscal 2022, and ₹7,195.52 lakhs in Fiscal 2021.
10. When was Garuda Construction incorporated?
Garuda Construction was incorporated as “Garuda Construction and Engineering Private Limited” on September 21, 2010, under the provisions of the erstwhile Companies Act of 1956.
11. What is the company’s primary focus?
Garuda Construction’s main aim is to ensure customer satisfaction and build long-term relationships with its clients.
