Again this is a great opportunity to earn money from IPO. Bidding in the IPO of Garuda Construction and Engineering Limited has started from today in the primary market. The company, which provides large-scale civil construction services, has raised Rs 75 crore from anchor investors ahead of its initial public offering (IPO) on October 7. If you are also interested in this IPO then you can take its subscription from 8th October to 10th October 2024.
Price band ₹92-95 per share
According to the news, the price band of Garuda Construction and Engineering IPO has been fixed in the range of ₹92-95 per share, with a total offer price of ₹264.10 crore. According to Groww, half of the issue size has been allotted to qualified institutional buyers (QIBs), while 35 per cent is reserved for retail investors and the remaining 15 per cent for non-institutional investors (NIIs). Interested investors can bid for a minimum of 157 equity shares and in multiples of 157 equity shares thereafter. Retail investors will have to invest Rs 14,915 for one lot in this IPO.
what does the company do
Garuda Construction & Engineering Limited provides full-service civil construction for residential, workplace, hotel and infrastructure projects along with additional services for commercial and infrastructure projects. Civil construction involves the construction of concrete and composite steel structures and the construction of buildings for use in commerce, industry, accommodation and hospitality.
financial condition of the company
According to Livemint news, the company’s operating revenue increased from ₹77.02 crore in FY2022 to ₹154.18 crore in FY2024. This represents a compound annual growth rate (CAGR) of 26%. Also, profit after tax is expected to grow from ₹18.78 crore in FY2022 to ₹36.43 crore in FY2024, with a CAGR of 25%.
