Garuda Construction and Engineering Makes a Strong Debut at ₹105, 9.5% Premium on NSE – Get the Full Scoop!Garuda Construction and Engineering Makes a Strong Debut at ₹105, 9.5% Premium on NSE – Get the Full Scoop!

Garuda Construction and Engineering debuted strongly today, listing at ₹105 on NSE, a 9.5% premium from its IPO price of ₹95, and ₹103.20 on BSE, reflecting an 8.63% increase. The ₹264.10 crore IPO was open from October 8-10, 2024.

The IPO saw massive interest, closing 7.55 times oversubscribed with bids for 15.03 crore shares against 1.99 crore available. Retail investors subscribed 10.81 times, non-institutional investors 9.03 times, and qualified institutional buyers 1.24 times.

The objective of the Garuda Construction and Engineering IPO is to raise funds for business expansion, enhancing infrastructure projects, strengthening financial capabilities, and supporting strategic initiatives to drive growth and enhance shareholder value in the competitive construction sector.