The Garuda Construction IPO subscription status opened on Tuesday, October 8, 2024, and will close on October 10, 2024. This IPO aims to raise approximately ₹264.10 crores. Specifically, the allocation is set at 35% for retail investors, 50% for qualified institutional buyers (QIB), and 15% for non-institutional investors (NII). Moreover, the price band for the equity shares is fixed between ₹92 and ₹95.
The IPO consists of a minimum market lot of 157 Shares requiring an application amount of ₹14,915. Garuda Construction and Engineering is a Mainboard IPO that will be listed on the BSE & NSE.
Also read: Garuda Construction and Engineering IPO: Dates, Pricing and Allotment 2024
Table of contents
About Company
Garuda Construction is headquartered at 201, A Wing, Fortune 2000 C 3 Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051, Maharashtra. Moreover, the company provides comprehensive construction services for commercial, residential, infrastructure, and industrial projects, including the construction of residential, hospitality, industrial, and commercial buildings, as well as concrete building structures.
Additionally, the company reported revenue of ₹8,042.34 lakhs for the eight months ending November 30, while revenues for Fiscal Years 2023, 2022, and 2021 were ₹16,068.76 lakhs, ₹7,702.08 lakhs, and ₹7,195.52 lakhs, respectively.
Established on September 21, 2010, as “Garuda Construction and Engineering Private Limited” under the Companies Act of 1956, the company’s primary focus is on customer satisfaction and fostering long-term relationships.
IPOGMP.IN View
We recommend that investors consider applying for the IPO with a long-term perspective. Moreover, it is essential for investors to review the QIB, NII, and retail numbers before making an investment.
Garuda Construction IPO Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.02 | 0.91 | 1.24 |
| NII | 1.11 | 2.59 | 9.03 |
| RII | 3.52 | 6.76 | 10.81 |
| Total | 1.96 | 4.12 | 7.55 |
IPO Investor Categories
- Qualified Institutional Buyers (QIB): Financial Institutions, Banks, FIIs, and Mutual Funds
- Non-Institutional Investors(NII): Individual Investors, NRIs, Companies, Trusts, etc
- Retail Individual Investors (RII): Retail Individual Investors or NRIs
- Employee (EMP): Eligible Employees
- Others: Eligible Shareholders
IPOGMP.IN Review for
- May Apply
IPO Form
To apply for the Garuda Construction IPO, use ASBA via your bank’s online portal or download and submit IPO forms through your bank or broker.
FAQs
The Garuda Construction IPO subscription begins on October 8, 2024, for qualified institutional buyers (QIB), non-institutional investors (NII), and retail investors.
To subscribe, you can choose either ASBA or non-ASBA options. First, log in to your bank account to apply online via ASBA, or alternatively, download a form to submit to your broker or bank.
You can visit our portal for hourly updates on IPO subscription numbers. Additionally, you can check the official websites for live figures.
Additionally, To apply through Zerodha, log in to the Console, go to your portfolio, and select “Garuda Construction.” Next, click the Bid button, enter your UPI ID, quantity, and price, and then submit your application. Afterward, approve the mandate through your UPI app. Make sure you have a Demat account with Zerodha.
Firstly, To apply through Upstox, log in to the app, select “Garuda Construction,” and click the Bid button to confirm your application. Finally, approve the mandate via your UPI app, ensuring you have a Demat account with Upstox.
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