Garuda Construction and Engineering IPO allotment finalised today; GMP, steps to check status online

Garuda Construction and Engineering IPO Allotment: The initial public offering (IPO) of Garuda Construction and Engineering Ltd received decent response from investors. As the bidding period has now ended, applicants watch out for Garuda Construction and Engineering IPO allotment, has been finalised today.

Garuda Construction and Engineering IPO was open for subscription from October 8 to 10. Garuda Construction and Engineering IPO allotment date is likely today, October 11.

The company will credit the equity shares into the demat accounts of eligible applicants on October 14 and initiate refunds to unsuccessful bidders on the same day.

Investors can check Garuda Construction IPO allotment status online through the BSE website or the official portal of the IPO registrar. Link Intime India Private Ltd is the Garuda Construction and Engineering IPO registrar.

Garuda Construction and Engineering IPO allotment status online can be checked by following a few simple steps mentioned below. Here are steps to check Garuda Construction and Engineering IPO allotment status online:

Garuda Construction IPO Allotment Status on BSE

Step 1] Visit BSE website on this link - https://www.bseindia.com/investors/appli_check.aspx

Step 2] Select ‘Equity’ in the Issue Type

Step 3] Choose ‘Garuda Construction and Engineering Limited’ in the Issue Name dropdown menu

Step 4] Enter either Application No. or PAN

Step 5] Verify by ticking on ‘I am not robot’ and click on ‘Search’

Your Garuda Construction and Engineering IPO allotment status will be displayed on the screen.

Garuda Construction IPO Allotment Status on Link Intime:

Step 1] Visit IPO registrar website on this link -https://linkintime.co.in/initial_offer/public-issues.html

Step 2] Choose ‘Garuda Construction and Engineering Limited’ in the Select Company dropdown menu

Step 3] Select among PAN, App. No., DP ID or Account No.

Step 4] Enter the details as per the option selected

Step 5] Click on Search

Your Garuda Construction IPO allotment status will be displayed on the screen.

Garuda Construction and Engineering IPO GMP

Garuda Construction and Engineering shares are showing a muted trend in the unlisted market. According to stock market experts, Garuda Construction and Engineering IPO GMP today, or grey market premium today, is ₹5 per share. This means that in the grey market, Garuda Construction and Engineering shares are trading higher by ₹5 than their issue price. Market observers said that Garuda Construction and Engineering IPO GMP has fallen from ₹20 to ₹5 in three days.

Considering the Garuda Construction IPO GMP today and the issue price, the estimated Garuda Construction and Engineering IPO listing price is ₹100 per share, a premium of over 5% to the IPO price of ₹95 per share.

Garuda Construction and Engineering IPO Details

Garuda Construction and Engineering IPO opened for subscription on Tuesday, October 8, and closed on Thursday, October 10. Garuda Construction allotment date is likely today, October 11 and the IPO listing date is October 15. Garuda Construction and Engineering shares will be listed on both the stock exchanges, BSE and NSE.

Garuda Construction and Engineering IPO price band was set at ₹90 to ₹95 per share. The company raised ₹264.10 crore from the issue which was a combination of fresh issue of 1.83 crore equity shares amounting to ₹173.85 crore and an offer-for-sale (OFS) component of 95 lakh shares worth ₹90.25 crore.

The public issue was subscribed 7.55 times in total. It was booked 10.81 times in Retail Individual Investors (RIIs) category and 1.24 times in Qualified Institutional Buyers (QIBs) category. The Non Institutional Investors (NII) portion was subscribed 9.03 times, as per NSE data.

Corpwis Advisors Private Limited is the book running lead manager of the Garuda Construction and Engineering IPO, while Link Intime India Private Ltd is the IPO registrar.

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