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Garuda Construction and Engineering Limited
Issue Size (Net)
up to Rs.264.10 Cr
Price Band
Rs.92 to Rs.95 per share
Issue Opens
October 8, 2024
Issue Closes
October 10, 2024

Company Highlights

1.Company Information

Garuda Construction and Engineering Limited was founded in 2010 and is a construction company.
The company provides comprehensive construction services for residential, commercial, residential/commercial, infrastructure, and industrial projects, as well as additional services for infrastructure and hospitality projects. The company also provides services such as operation and maintenance (O&M) and mechanical, electrical and plumbing (MEP) services as well as finishing works as part of construction services.
Strengths:
1.Exclusive and focused business approach: The company primarily focuses on the construction of residential and commercial buildings and is now venturing into industrial and infrastructure projects.
2.Established and proven track record: The company has a strong track record in various construction projects, including Golden Chariot Vasai Hotel & 3.Spa and Golden Chariot Boutique Hotel in 2015. Since 2017, the company has undertaken residential projects in MMR and completed two. From 2010 to 2017, the company focused on civil engineering in MMR, Karnataka and Tamil Nadu.
4.Strong project management and execution capabilities
5.Strong financial performance and healthy balance sheet: The company recorded Revenue from Operations of Rs. 1,187.50 Lacs for the period ended April 30, 2024, Rs. 15,417.83 Lacs in FY 2024 and Rs. 16068.76 Lacs in FY 2023.
6.Visible growth through increasing order book: As of September 28, 2024, the order value of the company's ongoing and pending projects totaled Rs. 1,40,827.44 lacs. With projects spread across MMR, Arunachal Pradesh, Karnataka, Rajasthan, and Punjab, the increasing number of construction works and projects helped the company maintain its growth momentum and reputation.

2. Objects of the Issue

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
General Corporate Expenses and Unidentified Inorganic Acquisitions
Working Capital Requirements

3.Garuda Construction and Engineering IPO Registrar
Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: garudaconstructions.ipo@linkintime.co.in

Website: https://linkintime.co.in/initial_offer/public-issues.html

Garuda Construction and Engineering Limited Financial Information (Restated)

Period Ended
Total Assets
Total Revenue
Profit After Tax
Net Worth
Reserves and Surplus
Total Borrowing
30-Arp-24
234.84
11.88
3.5
122.51
85.16
0.15
31-Mar-24
228.49
154.47
36.44
119.01
81.65
0.15
31-Mar-23
176.35
161.02
40.8
82.61
70.13
0.19
Amount in Rs. Crore

Garuda Construction and Engineering IPO Details

Issue Opening Date
October 8, 2024
Issue Closing Date
October 10, 2024
Face Value
Rs.5 per share
Price
Rs.92 to Rs.95 per share
Lot Size
157 Shares
Issue Size
27,800,000 shares (aggregating up to Rs.264.10 Cr)
Fresh Issue
18,300,000 shares (aggregating up to Rs.173.85 Cr)
Offer for Sale
9,500,000 shares of Rs.5 (aggregating up to Rs.90.25 Cr)
Issue Type
Book Built Issue IPO
Listing At
BSE, NSE

Garuda Construction and Engineering IPO Timeline (Tentative Schedule)

Event
Tentative Date
Opening Date
Tuesday, October 8, 2024
Closing Date
Thursday, October 10, 2024
Basis of Allotment
Friday, October 11, 2024
Initiation of Refunds
Monday, October 14, 2024
Credit of Shares to Demat
Monday, October 14, 2024
Listing Date
Tuesday, October 15, 2024
Cut-off time for UPI mandate confirmation
5 PM on October 10, 2024

Prospectus

Prospectus File

RR Investors Capital Services Pvt. Ltd AMFI-registered Mutual Fund Distributor

ARN-0032 Validity 14-Mar-2027

Head Office - 4th floor, Indraprakash Building 21, Barakhamba Road, New Delhi – 110001

callLandline Number
+91 11-4444-1111

Customer Care
+91 9350316010

Security
  • SSL
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