IPO
Garuda Construction’s Rs.264-Cr IPO subscribed 7.6 times
The INR 264 crore initial public offering (IPO) of Mumbai-headquartered Garuda Construction and Engineering has received 7.55 times bids. The retail individual investors (RIIs) portion got subscribed 10.81 times, the quota for non-institutional investors (NIIs) received 9.03 times subscription and the Qualified Institutional Buyers (QIBs) part got subscribed 1.24 times. The IPO comprises a fresh issue of 1.83 crore equity shares and an offer of sale (OFS) of 95 lakh equity shares by promoter PKH Ventures.Garuda is currently engaged in civil construction of six residential projects, two commercial projects, one industrial project and one infrastructure, having an order book of INR 1,408.27 crore.
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