IPO Details
Bidding Dates
08 Oct 24 - 10 Oct 24
Price Range ₹
90 - 95
Total Equity
₹ 264.10Cr
Lot Size
157
Exchange Status
BSE,NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
10.81×
Qualified Institutional Buyers
1.24×
Employees
0.00×
Retail Investors
10.81×
Total subscription Rate
7.55×
IPO Timeline
Offer start
08 Oct 2024
Offer end
10 Oct 2024
Allotment
11 Oct 2024
Refund initiation
14 Oct 2024
Demat transfer
14 Oct 2024
Listing
15 Oct 2024
Offer start
08 Oct 2024
Offer end
10 Oct 2024
Allotment
11 Oct 2024
Refund initiation
14 Oct 2024
Demat transfer
14 Oct 2024
Listing
15 Oct 2024
About Company
Founded in 2010, Garuda Construction and Engineering Limited is a construction company providing comprehensive services for residential, commercial, industrial, and infrastructure projects. The company also offers operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP), and finishing works. With a strong focus on residential and commercial buildings, Garuda has a proven track record, including notable projects like the Golden Chariot Vasai Hotel & Spa. The company has seen strong financial performance, with revenue of Rs. 15,417.83 lakhs in FY 2024, and as of September 2024, its project order book totaled Rs. 1,40,827.44 lakhs, reflecting its continued growth and solid reputation.
Year Founded
21-09-2010
Promotor Details
Pravin Kumar Agarwal
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 96.81 | 67.56 |
| Share Capital | 72360730 | 62860730 |
Offer to Public
2,78,00,000.00 Cr
Project Details
- Working Capital Requirement - 1000cr
- Working Capital Requirement - 1000cr
Objectives
- Working Capital Requirements.General Corporate Expenses and unidentified inorganic acquisitions.
Highlights
- A strong pipeline of projects worth Rs 1,408.27 crore, indicating sustained business growth.
- Completed orders worth Rs 546.87 crore showcase the company’s successful execution capabilities.
- Its extensive experience offers a reliable basis for evaluating performance and predicting future outcomes.
- Involvement in residential, commercial, industrial, and infrastructure projects broadens its market reach.
- Strong order fulfillment and consistent growth strengthen its financial standing.
Challenges
- A significant portion of revenue comes from a few customers, risking business disruption if they are lost.
- The company's lack of experience in working with unrelated third-party entities may restrict its long-term growth.
- A large percentage of revenue is tied to projects related to its promoter group, limiting diversification.
- Ongoing criminal and legal proceedings involving the company’s promoter and directors could affect its reputation and business prospects.
- Past negative cash flows and the withdrawal of the promoter's IPO due to lack of interest raise concerns about financial stability.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2021 | 13,233.81 | 1,245.70 | 1,878.22 | 1,878.22 | 2.5129 |
| 2022 | 11,055.29 | 1,245.70 | 927.78 | 927.78 | 1.2413 |
| 2023 | 17,591.16 | 1,245.70 | 927.78 | 927.78 | 1.2413 |
