Mumbai-based Garuda Construction and Engineering is selling its shares in the price band of Rs 92-95 apiece. Investors can apply for a minimum of 157 shares and its multiples thereafter.

The initial public offering of Garuda Construction and Engineering has received decent response on the first day of bidding itelf, getting fully subscribed on October 8.

The grey market premium of Garuda Construction And Engineering was Rs 5 as of 8:56 a.m., implying a 5.26% gain over the IPO price, according to Chittorgarh's unit InvestorGain. The estimated listing price based on the GMP is Rs 100 per share.

Garuda Construction & Engineering Ltd (GCEL), a civil construction company engaged in residential, commercial, infrastructure and industrial projects, is launching an IPO (Initial Public Offer) today. The IPO is both an offer for sale by promoters (worth Rs 90 crore) and a fresh issue to raise Rs 174 crore.

As of 15:58 pm, The retail section was subscribed 3.20 times while NII portion 0.96 times. The QIB portion was subscribed 2%.

Garuda Construction and Engineering Limited is all set to raise money through an initial public offering. Here’s everything you need to know about the IPO and the company.

Garuda Construction and Engineering IPO opens for subscription on October 8, with a price band of ₹92 to ₹95. The firm aims to enhance its capacity in civil construction, targeting larger contracts and a broader client base.

Garuda Construction IPO opens at ₹92-95/share, with proceeds for projects and inorganic acquisitions, attracting anchor investors.

The public issue comprises a fresh issue of 18,300,000 shares and an offer for sale of 9,500,000 shares with a face value of Rs 5 each

The company has finalised allocation of 78,95,138 equity shares to seven anchor investors at a price of Rs 95 per share.