GMP of IPO Garuda :
Expected Listing Gain: NIL
Category: Mainline IPO (Not SME). IPO issue size ₹264.10 Crore. Offer for Sale ₹90.25 Crore. Fresh Issues: 173.85 Crore.
Company Name: Garuda Construction and Engineering with the market capitalization of ₹883.9 crore. The company founded in 2010.
The company is a Mumbai based construction company. The IPO bidding date is in October. Details Here
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| Bidding Dates | October 8th to October 10th , 2024 |
| Minimum Price | ₹92 |
| Cut Off Price | ₹95 |
| Lot Size | 157 shares/Lot |
Live Subscription
| QIBs | |
| NII Total | |
| bNII (Bids above ₹ 10 Lakh) | |
| sNII (Bids below ₹10 Lakh) | |
| Retail | |
| Employees | |
| Total |
IPO Tentative Timeline
| Opens on | Tuesday, 8th October 2024 |
| Closes on | Thursday, 10th October 2024 |
| Allotment On | Friday, 11th October 2024 |
| Refund Initiation on | Monday, 14th October 2024 |
| Demat Transfer on | Monday, 14th October 2024 |
| Listing on | Tuesday, 15th October 2024 |
Garuda IPO Analysis
| Face Value | ₹5 per sahre |
| Issue Price | ₹92 to ₹95 |
| Lot Size | 157 shares |
| Issue Size | Aggregating up to ₹264.10 Crore |
| Fresh Issues | Aggregating up to ₹4173.85 Crore |
| Offer for sale | Aggregating up to ₹90.25 Crore |
| Issue Type | Book Building Issue |
| Listing at | BSE and NSE |
| Register | Link Intime India Pvt. Ltd |
Garuda IPO Key Performance:
| ROE | 36.14% |
| ROCE | 46.69% |
| Debt/Equity | __ |
| RoNW | 30.62% |
| P/BV | 5.97 |
| PAT Margin (%) | 23.63 |
| Pre EPS (₹) | 4.87 |
| Post EPS (₹) | 4.52 |
| Pre P/E (x) | 19.49 |
| Post P?E (x) | 21.03 |
Financial Information of Garuda
| Year | 30th April 2024 | 31 March, 2024 | 31 March 2023 | 31 March 2022 |
| Assets | ₹234.84 Cr. | ₹228.49 Cr. | ₹176.35 Cr. | ₹111.03 Cr |
| Revenue | ₹11.88 Cr. | ₹154.47 Cr. | ₹161.02 Cr. | ₹77.04 Cr. |
| Profit after Tax | ₹3.5 Cr. | ₹36.44 Cr. | ₹40.8 Cr. | ₹18.78 Cr. |
| Net Worth | ₹122.51 Cr. | ₹119.01 Cr. | ₹82.61 Cr | ₹41.79 Cr. |
| Reserves & Surplus | ₹85.16 Cr. | ₹81.65 Cr. | ₹70.13 Cr. | ₹29.34 Cr. |
| Total Borrowing | ₹0.15 Cr. | ₹0.15 Cr. | ₹0.19 Cr | ₹11.99 Cr |
IPO Issue Objectives
- To fulfill the working capital requirements
- To fulfill the general corporate expenses
- To fulfill inorganic acquisitions
| Strength | Risks |
| Garuda ensures high construction quality and timely project delivery as the project management capabilities are strong enough. | Risk of non-performance, project delay and potential performance losses |
| The company uses a fleet of modern construction equipment management. | 64.61% Ongoing projects |
| Strong growth in FY2023. ROE: 36.14% (above 25%) | Direct competition |
| Strong ROCE 46.69% (Above 30%) | Past non-compliance in securities allotment in 2015 and 2016 |
| Order booked at ₹1,40,827.44 Lakhs | Not fully debt free |
| Overall Financial Stability | Offer for sale issues |
Garuda Construction IPO Reservation
| QIBs | 50% |
| HNI | 15% |
| Retail Quota | 35% |
Learn about Pre IPO investing
Hi, I’m Avishek, a passionate stock market enthusiast turned full-time investor. With my 3+ years of experience in the Indian and Global markets, I’ve developed a keen eye for potential winners. My portfolio includes successful allotments in IPOs from NYKAA, Bajaj Housing Finance, Waaree Energies Ltd, and more. I have never lost money in the stock market. Through this blog, I will provide all the information here.