The Initial Public Offer (IPO) of Garuda Construction and Engineering Limited will open on October 8 this week. Investors will be able to bid for this issue till October 10. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 15. Through this issue, the company wants to raise Rs 264.10 crore. For this, the company is issuing 18,300,000 fresh shares worth Rs 173.85 crore. Whereas, the existing investors of the company are selling 9,500,000 shares worth Rs 90.25 crore through Offer for Sale i.e. OFS. If you are also planning to invest money in it, then we are telling you how much you can invest in it. How much minimum and maximum money can you invest? Garuda Construction and Engineering has fixed the price band of this issue at ? 92-? 95. Retail investors can bid for a minimum of one lot i.e. 157 shares. If you apply for 1 lot as per the IPO’s upper price band of ?95, then you will have to invest ?14,915 for it. At the same time, retail investors can apply for a maximum of 13 lots i.e. 2041 shares. For this, investors will have to invest ?193,895 as per the upper price band. 35% of the issue reserved for retail investors The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, about 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). Garuda Construction and Engineering was established in 2010 Garuda Construction and Engineering Limited was established in 2010 and it is a construction company. It provides construction services for residential and commercial infrastructure and industrial projects. Along with this, the company also provides many services including operation and maintenance, electrical and plumbing. What is an IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
