Garuda Construction and Engineering Limited made its stock market debut on October 15, with shares listing at ₹105 on the NSE, representing a 10.53% gain over the issue price of ₹95.
Garuda Construction and Engineering IPO Details:
- The IPO was open for subscription from October 8 to 10, 2024, with the allotment finalized on October 11.
- The issue price was set between ₹90 and ₹95 per share, and the company raised ₹264.10 crore at the upper price band. This comprised a fresh issue of 1.83 crore equity shares, raising ₹173.85 crore, and an offer for sale of 0.95 crore shares worth ₹90.25 crore.
- The IPO was subscribed 7.55 times overall.
Despite the Garuda Construction and Engineering IPO GMP (Grey Market Premium) signaling no premium ahead of the listing, the stock opened with a ₹10 per share gain.
As of 9:50 AM, Garuda Construction and Engineering shares were trading at ₹105 on the NSE, reflecting positive market sentiment for the newly listed stock.
Corpwis Advisors Private Limited acted as the book-running lead manager, while Link Intime India Private Ltd was the IPO registrar.
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