Garuda Construction and Engineering IPO

Garuda Construction and Engineering IPO: Fresh issue of 1.83 Cr shares (₹173.85 Cr) and OFS of 95 lakh shares (₹90.25 Cr). Funds for working capital and corporate purposes.

Important Details

Open Date : October 8, 2024 Close Date : October 10, 2024 Allotment Date: October 11, 2024 Listing Date: October 15, 2024

Important Details

IPO Price: INR 92-95 per share Lot Size: 157 Shares Total Issue Size: INR 264.10 crores

Fundamental Analysis

Garuda Construction and Engineering IPO shows mixed performance: 1. Strong asset growth, profitability, and improved liquidity. 2. NAV growth reflects financial health. 3. Slight drop in revenue, PAT, and RoNW in 2024.

Peer Comparison

1. Garuda Construction & Engineering: Strong RoNW at 36.14%. 2. PSP Projects: High EPS of ₹34.16. 3. Ahluwalia Contracts: High EPS of ₹55.95. 4. B L Kashyap: High P/E ratio of 48.67

Objective

Garuda Construction and Engineering IPO Objective: IPO Objective: Use INR 100 crores for working capital. Remaining Funds: General corporate purposes like operating expenses and project development.

Risks And Challenges

Garuda Construction and Engineering IPO Risks: 1. Client Dependency: Top 10 clients, mostly promoter-related. 2. Risks: Client loss or industry downturn may impact operations. 3. Previous IPO: Withdrawn due to under-subscription.