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Garuda Construction and Engineering IPO
Garuda Construction and Engineering Ltd
₹14,130 /157 sharesMinimum Investment
Garuda Construction and Engineering IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹95.00 | ₹105.00 | ₹10.00 (10.53%) |
Garuda Construction and Engineering IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 8 Oct ‘24 - 10 Oct ‘24 | ₹14,130 | 157 | ₹90 - ₹95 |
| Issue Size | IPO Doc |
|---|---|
| 264.10Cr | RHP PDF |
Subscription rate
As of 10 Oct'24, 05:00 PM
| Qualified Institutional Buyers | 1.24x |
| Non-Institutional Investor | 8.96x |
| Retail Individual Investor | 10.49x |
| Total | 7.38x |
About Garuda Construction and Engineering
Founded in
2010
Managing director
Mr. Pravin Kumar Brijendra Kumar Agrawal
Parent organisation
Garuda Construction and Engineering Ltd
Strengths & Financials of Garuda Construction and Engineering
Strengths
Risks
As of September 28, 20243, Garuda Construction’s order book stood at Rs 1,408.27 crore.
As of the same date, it claims to have completed orders worth Rs 546.87 crore.
The company has a long history of operations, making it relatively easy for investors to look at its past performance and estimate future trends.
The top 10 customers of the company contributed Rs 65.02 crore (43.47%) in FY24, Rs 152.04 crore (94.62%) in FY23, and Rs 66.74 crore (86.65%) in FY23 to revenue from operations. Any failure to retain these key customers could adversely affect the company’s business and financial standing.
Garuda Construction’s limited experience in dealing with unrelated third-party entities could pose a challenge to its growth. If it cannot establish itself successfully as a developer or a contractor beyond its promoter group and associated companies, its long-term growth may be constrained. Its revenue heavily relies on construction projects related to its group companies and promoters, at 100.00%, 44.82%, 94.62% and 86.65% in the period ended April 30, 2024, and financial years ending March 31, 2024, March 31, 2023, and March 31, 2022, respectively
The construction industry is cyclical and sensitive to changes in the economy. Also, its profitability significantly depends on the real estate market conditions in the country, especially in the Mumbai Metropolitan Region (MMR). Any slowdown in the sector could adversely affect the company’s operations and financial performance.
One of the company’s promoters, Pravin Kumar Brijendra Kumar Agarwal, is involved in a criminal proceeding, which is pending in court. Besides, there are other legal proceedings against the company, its promoter, and certain directors. Any adverse judgments in these cases could affect the company’s reputation and business prospects.
The company has witnessed negative cash flows in the past. Any repeat of the same in the future could be detrimental to the company’s business.
The company’s promoter, PKH Venture Limited, had filed for an IPO, which had to be withdrawn due to insufficient subscription.
Garuda Construction and Engineering Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Garuda Construction and Engineering IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹92 - 95 | Upto ₹2 Lakh |
| High Networth Individual | ₹92 - 95 | ₹2 - 5 Lakh |
For Garuda Construction and Engineering IPO, eligible investors can apply as Regular.