All You Need To Know About Garuda Construction and Engineering IPO: Issue Set To Open on Oct 8

Garuda Construction and Engineering is set to launch its IPO, which has been scheduled to open on October 8, 2024 and closes on October 10, 2024. Garuda Construction and Engineering IPO is a book-built issue of ₹264.10 crore. The issue is a combination of a fresh issue of 1.83 crore shares aggregating to ₹173.85 crore and an offer for sale of 0.95 crore shares aggregating to ₹90.25 crore.

The price band for Garuda Construction and Engineering IPO  has been set at ₹92 to ₹95 per share. The minimum lot size for an application is 157 shares, which requires a minimum investment of ₹14,915 by retail investors for one lot. IPO allotment will be finalised on October 11, 2024.

Purpose of Garuda Construction and Engineering IPO

Garuda Construction and Engineering proposes to utilise the funds being raised to finance the following objectives:

• Working capital requirements.
• General corporate expenses and unidentified inorganic acquisitions.

About Garuda Construction & Engineering Ltd

Garuda Construction & Engineering Ltd.  (GCEL) is a growing civil construction company with growth in revenue from operations. The company mainly provides end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure and industrial projects and additional services for infrastructure and also hospitality projects. 

Curious about where to invest next? Our Upcoming IPO could be your answer. Be the first to get in on the action. Start investing today!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.