The share allotment for the Garuda Construction and Engineering IPO is expected to be finalized today or tomorrow. Shares will be allocated to investors through a lottery system, overseen by the registrar. On the allotment date, investors can check how many shares they received compared to their bids.
How to Check Allotment Status
You can check the allotment status through the BSE or the registrar’s website. Here’s how to do it:
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Checking Status on BSE:
- Go to the BSE website: BSE Allotment Check.
- Select the issue name (Garuda Construction) from the dropdown menu.
- Enter your application number or PAN number to see your allotment status.
Checking Status Through the Registrar:
- Visit the Link Intime India website: Link Intime IPO Status.
- Select Garuda Construction IPO.
- Enter your PAN details and click search to find your status.
Garuda Construction GMP
The shares of Garuda Construction are expected to be listed on the stock exchanges on October 15. Currently, there is no Grey Market Premium (GMP) for the company’s shares, indicating a likely negative or flat listing.
IPO Subscription Details
Garuda Construction’s IPO received a strong response, with an overall subscription of 30.6 times by the close of the bidding period. The company aims to raise ₹100 crore from this IPO, which will be used for working capital and general corporate purposes, including possible acquisitions.
About Garuda Construction
Garuda Construction provides complete civil construction services for various types of projects, including residential, commercial, infrastructure, and hospitality. The Indian construction sector has been growing, with a CAGR of 10.6% from FY18 to FY23, and is expected to reach ₹6.49 lakh crore by FY30.
For the financial year ending March 2024, Garuda Construction reported a 4% decline in revenue, totaling ₹151 crore, and a decrease in profit after tax to ₹36.43 crore, down from ₹40.79 crore the previous year.
Corpwis Advisors is the sole book-running lead manager for the IPO, and Link Intime India is the registrar.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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