Garuda Construction IPO Now Open for Subscription!

Koushik Dutta

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garuda construction ipo

Garuda Construction is set to launch its Initial Public Offering (IPO), with subscription dates commencing on October 8, 2024 and concluding on October 10, 2024. The company aims to raise approximately ₹264.10 crores through this IPO. The allotted quotas for different investor categories are divided into 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for Non-Institutional Investors (NII). The price range for the shares is fixed between ₹92 and ₹95 per equity share.

The minimum lot size for Garuda Construction’s IPO is set at 157 shares, which translates to a total application amount of ₹14,915. This IPO is categorized as a Mainline IPO and will be listed on both BSE and NSE, providing more options for investors.

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Based in Mumbai, Garuda Construction operates from 201, A Wing, Fortune 2000 C 3 Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051, Maharashtra. The company specializes in comprehensive construction services covering various sectors, including commercial, residential, infrastructure, and industrial projects. Their civil construction services are integral to building residential complexes, hospitality venues, industrial structures, and commercial facilities.

Garuda Construction reported impressive revenue figures, with operations generating ₹8,042.34 lakhs for the eight months leading up to November 30. Additionally, for previous fiscal years, their revenues were ₹16,068.76 lakhs for Fiscal 2023, ₹7,702.08 lakhs for Fiscal 2022, and ₹7,195.52 lakhs for Fiscal 2021, indicating a steady business trajectory.

 

IPOWatch Review

Investment analysts recommend applying for the Garuda Construction IPO with a focus on long-term prospects. Potential investors should carefully examine the subscription numbers across QIB, NII, and Retail segments before making any investment decisions.

Garuda Construction IPO Subscription Status

Category Day 1 Day 2 Day 3
QIB 0.00 0.00 0.00
NII 0.00 0.00 0.00
bNII 0.00 0.00 0.00
sNII 0.00 0.00 0.00
RII 0.00 0.00 0.00
Total 0.00 0.00 0.00

 

Garuda Construction IPO Investor Categories

  • Qualified Institutional Buyers (QIB): This category includes financial institutions, banks, foreign institutional investors, and mutual funds.
  • Non-Institutional Investors (NII): This segment is open to individual investors, non-resident Indians (NRIs), companies, trusts, and similar entities.
  • Retail Individual Investors (RII): This encompasses retail individual investors and NRIs participating in the IPO.
  • Employee (EMP): Eligible employees of Garuda Construction have the opportunity to subscribe to the IPO.
  • Others: Eligible shareholders of Garuda Construction are also welcome to participate in the offering.

Garuda Construction IPO Review

Filing Process for Garuda Construction IPO

Interested investors can subscribe to the Garuda Construction IPO through ASBA services available with their respective banks. To apply, simply log into your online banking account and navigate to the investment section where the Garuda Construction IPO will be listed. Alternatively, investors can download the IPO application form online, print it, fill it out, and submit it either to their bank or through a broker, following the necessary submission guidelines.

Garuda Construction IPO Subscription Status FAQs:

 

When will the Garuda Construction IPO Subscription start?

The IPO subscription will commence on October 8, 2024, covering all investor categories, including QIB, NII, and Retail.

What is the process to subscribe to the Garuda Construction IPO?

Investors have the option of subscribing via ASBA or non-ASBA methods. They can apply directly through their bank’s online platform or complete the physical form and submit it through a broker or bank branch.

How can I check the live Garuda Construction IPO Subscription Numbers Today?

For live updates on IPO subscription numbers, investors can refer to dedicated financial news platforms that provide hourly updates directly sourced from official websites.

What are the steps to apply for the Garuda Construction IPO using different trading platforms?

Users can log into their brokerage accounts (like Zerodha, Upstox, or Paytm Money), select the IPO ‘Garuda Construction’, input required details like UPI ID and quantity, and confirm their application. Approval through UPI apps may be necessary to complete the mandate.
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