According to stock exchange data, the issue received bids for 3,80,15,666 shares compared to the 1,99,04,862 equity shares offered, with a price range of ₹90-95.

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 Garuda Construction IPO saw strong demand, with full subscription on the first day. It comprises new equity shares and an OFS, valued at ₹264 crore. Proceeds will fund working capital and acquisitions.

Garuda Construction and Engineering's IPO opened on October 8, 2024, aiming to raise Rs 264.10 crore. The price band is set at Rs 92-95 per share, with a minimum retail investment of Rs 14,915. The IPO will close on October 10,

Garuda Construction and Engineering's IPO has successfully subscribed on its first day, driven by retail investors who oversubscribed their portion by 173%. The IPO includes a fresh equity sale of Rs 173 crore and an OFS of Rs 90 crore.

The Garuda Construction and Engineering IPO will remain opened for public subscription between October 8 and October 10. Should You Apply? Check GMP, Subscription Status, Recommendations

The Rs 264.10 crore IPO of Garuda Construction includes a fresh share sale of 1.83 crore shares worth Rs 173.85 crore and an OFS of up to 95 lakh shares by its promoter PKH Ventures.

The price band is set at Rs 92-95 per share with a minimum bid of 157 shares. Analysts recommend subscribing for listing gains, citing a strong order book and asset-light model.