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Garuda Construction and Engineering Limited is set to launch its IPO soon, offering a valuable opportunity for investors.
The Garuda Construction and Engineering IPO is a book-built issue valued at ₹264.10 crores, combining both a fresh issue and an offer for sale (OFS).
The total issue includes a fresh issue of 1.83 crore shares, raising ₹173.85 crores, and an OFS of 0.95 crore shares, amounting to ₹90.25 crores. Investors have the chance to subscribe to the IPO from October 8, 2024, to October 10, 2024.
Retail investors can invest a minimum amount of ₹14,915 for 157 shares. Small Non-Institutional Investors (sNII) will require a minimum investment of ₹208,810 for 14 lots (2,198 shares), while Big Non-Institutional Investors (bNII) must invest ₹1,014,220 for 68 lots (10,676 shares).
Founded in 2010, Garuda Construction and Engineering Limited has built a strong presence in the construction industry, specializing in residential, commercial, infrastructure, and industrial projects. Their portfolio includes operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP) services, as well as finishing works.
Strengths of the Company
Financial Overview
Garuda Construction and Engineering Limited has demonstrated consistent growth, with assets increasing to ₹234.84 crores as of April 30, 2024. Despite a slight revenue drop, the company's strong balance sheet reflects a healthy financial standing.
| Financials | Apr 30, 2024 | Mar 31, 2024 | Mar 31, 2023 |
| Assets (₹ Cr) | 234.84 | 228.49 | 176.35 |
| Revenue (₹ Cr) | 11.88 | 154.47 | 161.02 |
| Profit After Tax (₹ Cr) | 3.5 | 36.44 | 40.8 |
IPO Objectives
The funds raised from the Garuda Construction and Engineering IPO will be used for:
1. Working Capital Requirements
2. General Corporate Expenses
3. Potential Inorganic Acquisitions
Garuda Construction and Engineering IPO Lot Size
Investors can bid for a minimum of 157 shares. The table below shows the minimum and maximum investment options for Retail Investors, S-HNI, and B-HNI categories:
| Investor Category | Lots | Shares | Amount (₹) |
| Retail (Min) | 1 | 157 | 14,915 |
| Retail (Max) | 13 | 2,041 | 193,895 |
| S-HNI (Min) | 14 | 2,198 | 208,810 |
| S-HNI (Max) | 67 | 10,519 | 999,305 |
| B-HNI (Min) | 68 | 10,676 | 1,014,220 |
Garuda Construction and Engineering Limited stands out due to its robust business model, financial health, and increasing order book. The company’s proven track record in the construction sector, coupled with a solid balance sheet, provides an attractive investment opportunity. The IPO also offers flexibility in investment sizes, catering to both retail investors and high-net-worth individuals (HNIs).
With the IPO scheduled to open on October 8, 2024, potential investors should be ready to seize this opportunity by participating before it closes on October 10, 2024.
Conclusion
The Garuda Construction and Engineering IPO presents a promising investment opportunity for those looking to invest in a growing construction company. With a proven track record, increasing order book, and solid financials, the company is well-positioned to capitalize on the infrastructure boom in India. Don’t miss the opportunity to invest in this IPO, opening soon from October 8 to October 10, 2024.
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Team MBC
A Professional Stock market analyst & trainer in Rajamahendravaram, Andhra Pradesh.
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