Mumbai-based Garuda Construction and Engineering is selling its shares in the price band of Rs 92-95 apiece. Investors can apply for a minimum of 157 shares and its multiples thereafter.

The initial public offering of Garuda Construction and Engineering has received decent response on the first day of bidding itelf, getting fully subscribed on October 8.

The grey market premium of Garuda Construction And Engineering was Rs 5 as of 8:56 a.m., implying a 5.26% gain over the IPO price, according to Chittorgarh's unit InvestorGain. The estimated listing price based on the GMP is Rs 100 per share.

Garuda Construction and Engineering's IPO opened on October 8, 2024, aiming to raise Rs 264.10 crore. The price band is set at Rs 92-95 per share, with a minimum retail investment of Rs 14,915. The IPO will close on October 10,

Garuda Construction & Engineering Ltd (GCEL), a civil construction company engaged in residential, commercial, infrastructure and industrial projects, is launching an IPO (Initial Public Offer) today. The IPO is both an offer for sale by promoters (worth Rs 90 crore) and a fresh issue to raise Rs 174 crore.

As of 15:58 pm, The retail section was subscribed 3.20 times while NII portion 0.96 times. The QIB portion was subscribed 2%.

Garuda Construction and Engineering Limited is all set to raise money through an initial public offering. Here’s everything you need to know about the IPO and the company.

G Dynamic Funds, Trust Mutual Fund, Maybank Securities Pte Ltd, North Star Opportunities Fund VCC, Resonance Opportunities Fund, Bridge India Fund, and Cognizant Capital Dynamic Opportunities Fund are among the anchor investors.

The public issue comprises a fresh issue of 18,300,000 shares and an offer for sale of 9,500,000 shares with a face value of Rs 5 each

The company has finalised allocation of 78,95,138 equity shares to seven anchor investors at a price of Rs 95 per share.