Will Garuda Construction’s IPO double your money, know details including GMP
There has been a lot of hustle and bustle in the IPO market for some time. First of all, Bajaj Housing Finance’s IPO doubled the investors’ money, followed by krn Heat Exchanger. Now Garuda Construction and Engineering Limited’s IPO is going to open for subscription. There is a lot of enthusiasm among IPO investors about this too. Let us know when Garuda Construction’s IPO will open, what does this company do and what is the gray market premium (gmp) of its shares?
How much money will Garuda Construction raise from IPO
Garuda Construction plans to raise a total of Rs 264.10 crore from the IPO. In this, fresh equity of Rs 173.85 crore will be issued. At the same time, the promoter will raise Rs 90.25 crore by selling some of its stake in the Offer for Sale (OFS). This IPO can be subscribed from 8 to 10 October. The price band of Garuda Construction & Engineering IPO is Rs 92 to Rs 95 per share. At the same time, the lot size is 157 shares. This means that retail investors will have to invest at least Rs 14,915. Its listing on NSE and BSE can happen on October 15.
GMP of Garuda Construction IPO
Garuda Construction’s IPO is not getting a great response like Bajaj Housing Finance or KRN Heat Exchanger in the gray market. Its latest GMP is showing that it can be listed at Rs 113. This means that according to the upper price band, investors can get a listing gain of Rs 18 i.e. 19 percent. Garuda Construction’s IPO is getting a sluggish response in the gray market. From this it can be understood that the fear of a fall in the stock market is dominating the investors right now. If there is a recovery in the stock market next week, then the GMP of Garuda Construction’s IPO can also increase.
What business does Garuda Construction do?
Garuda Construction & Engineering Limited was founded in 2010. It is a construction company that provides construction services for residential, commercial, infrastructure and hospitality projects. Garuda Construction also provides operations and maintenance, electrical and plumbing services as well as finishing services. Its projects are spread across states like Karnataka, Rajasthan, Punjab and Arunachal Pradesh. The company’s construction work and projects are growing rapidly, helping it to maintain its growth.
(This article is written for general information. Consult your financial advisor before making any investment.)