Garuda Construction and Engineering Group is set to launch its initial Public Offering (IPO) on October 8, 2024, and will remain open until October 10, 2024. The IPO aims to raise Rs.264.10 crore through fresh issues and an offer for sale. The Price band is set between Rs.90 to Rs.95 per share. Investors can bid for at least 157 shares a par lot, translating to a starting investment of around Rs.14,915 for retail investors.
Impacts and Highlists of the IPO:
Solid Financial Performance: Over the past few years, Garuda has shown impressive revenue growth. For instance, the company’s revenue increased significantly from Rs.77 crore in FY22 to Rs.154 crore in FY24, reflecting its capability to scale and execute large projects successfully.
Strategic Use of Funds: The processes from the IPO will be used primarily for working capital and general corporate expenses, allowing Garuda to bolster its operations and potentially explore new acquisitions. This will help in fueling future growth and increase profitability.
Growth in Infrastructure Demand: As India’s Infrastructure development accelerates, companies like Garuda are well-positioned to benefit from the surge in projects. With a diverse portfolio spanning residential, commercial, and government projects, Garuda stands to gain from this increased demand.
Experience Leadership and Execution Capability: Backed by a skilled management team, Garuda’s Consistent project delivery and growing order book demonstrate its ability to navigate a highly competitive sector successfully.
IPO Schedule:
- IPO Opens: October 8, 2024
- Closes: October 10, 2024
- Listing on BSE & NSE: October 15, 2024
Garuda Construction and Engineering Group’s IPO offers a solid opportunity to investors looking to enter the booming infrastructure market. With its strong increasing Demand in the construction sector, the company is well-positioned for sustained success.
This IPO could be a valuable addition to your investment portfolio if you’re seeking exposure to India’s fast-expanding infrastructure landscape.