Garuda Construction IPO Allotment On October 11; How To Check Status Online? Latest GMP, Listing Details

Garuda Construction and Engineering IPO: The Rs 264.10 crore IPO will carry its allotment of shares on October 11, after receiving 7.55x oversubscription during the bidding period. The proposed equity shares are likely to be listed on BSE and NSE next week.

Garuda Construction and Engineering IPO Allotment Status:

Investors can check the status of their application in Garuda Construction and Engineering IPO online through three modes. These are BSE, NSE and the registrar of the IPO, Link Intime India.

To check the application status on Link Intime, Click On The Link Below:

https://linkintime.co.in/initial_offer/public-issues.html

Step 1: Select the company name 'Garuda Construction and Engineering' in the 'Select Company' section.

Step 2: Choose either of the options - 1) Application No; 2) DP/Client ID; 3) PAN number; 4) Account No.; and 5) IFSC code. You will be able to review the status through either of these identifications.

Step 3: Click 'Submit' and you will be able to get the details of your application and its status.

To Check Your Application Status On BSE, Click On The Link Below:

https://www.bseindia.com/investors/appli_check.aspx

Step 1: Here, you will have to select the 'Issue Type' which would be EQUITY.

Step 2: Then select 'Garuda Construction and Engineering' in the 'Issue Name' option.

Step 3: The third process is to add either 'Application No' or 'PAN number'.

Step 4: Finally click on SEARCH to review the status of your bidding in the IPO.

To Check The Status Of Your Application On NSE, Click On The Link Below:

https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp

As per the NSE website, to avail of this facility, the investor has to register one time by providing the PAN details. The user shall be able to view the details of the bids entered against the registered PAN number. However, first, they need to register on NSE. On registration, the investor will receive an email notification from NSE on the registered email address providing the login details.

NSE will also provide Allotment information as provided by the registrar to the issue.

Garuda Construction and Engineering IPO GMP Today:

The grey market premium (GMP) of the IPO has been subdued for three consecutive day, after correcting in the start of the week. Currently, the GMP is at Rs 5 per share on Garuda Construction IPO, which has been the case on October 10 and 9 as well.

The GMP was at Rs 10 per share on October 8, and highest at Rs 22 on October 7.

That being said, GMP has steeply corrected in Garuda.

Garuda Construction and Engineering IPO Listing:

The proposed equity shares are likely to be list on October 15.

Earlier, in its IPO note, brokerage SMIFS said, Garuda Construction & Engineers Ltd. is well-positioned in the rapidly growing Indian construction sector, which is expected to expand at a CAGR of 7.5% until FY30 to ₹6,494 billion. Garuda's asset-light business model, which relies on third-party subcontractors for equipment and labour, combined with its focus on geographic expansion beyond the MMR region into states like New Delhi, Karnataka, and Rajasthan, enhances its ability to scale operations efficiently. The company's current order book of ₹14,082.74 million, alongside its expansion into development projects, provides a strong pipeline for growth. Garuda's superior financial performance, including an industry-leading ROE and ROCE of 36.14% and 46.69% in FY24, as well as its almost debt- free status, makes it stand out among its peers, ensuring that it is well-positioned to capture new opportunities in the Indian construction market.

Garuda Construction and Engineering IPO Subscription Status:

The company launched its Rs 264.10 crore IPO from October 8, 2024, which closed on October 10, 2024. The price band of the IPO was fixed at Rs 90 and Rs 95 per share. Overall, the IPO was fully subscribed by 7.55x.

Garuda Construction & Engineers Ltd. is a civil construction and engineering company based in Mumbai. Garuda provides end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure, and industrial projects.