Garuda Construction and Engineering re-files DRHP for IPO
ECONOMY & POLICY

Garuda Construction and Engineering re-files DRHP for IPO

Mumbai-based Garuda Construction and Engineering Limited has resubmitted the Draft Red Herring Prospectus (DRHP) for its upcoming initial public offering (IPO). The company had initially filed its draft papers in February. The IPO will follow the book-building process, with up to 50% of the offer available for allocation to qualified institutional buyers (QIBs), at least 15% to non-institutional investors (NIIs), and 35% to retail individual bidders.

Garuda Construction and Engineering plans to issue shares with a face value of Rs 5, comprising a fresh issue of up to 18.30 million equity shares and an offer for sale of up to 9.50 million equity shares by promoter PKH Ventures. The proceeds from the fresh issue, amounting to Rs 1 billion, will be utilised for funding working capital requirements, general corporate purposes, and potential inorganic acquisitions.

Established in 2010, Garuda Construction and Engineering ventured into the hospitality sector with the completion of the Golden Chariot Vasai Hotel & Spa in 2014. The company offers comprehensive civil construction services for residential, commercial, infrastructure, and industrial projects, along with additional services for infrastructure and hospitality ventures. Its capabilities include constructing concrete and composite steel structures, as well as providing O&M and MEP services and finishing works.

The company currently has an order book comprising 12 on-going projects, including residential, commercial, industrial, and infrastructure developments, with a total contract value of Rs 14.08 billion. Financially, Garuda Construction and Engineering witnessed a significant growth in revenue from operations, increasing by 108.63% in fiscal 2022?23 compared to the previous fiscal year, along with a corresponding rise in profit after tax (PAT).

The IPO is being managed by Corpwis Advisors Pvt Ltd. as the sole book-running lead manager, with Link Intime India Private Limited serving as the registrar. The equity shares are proposed to be listed on both the BSE and NSE stock exchanges. (Source: ET)

Mumbai-based Garuda Construction and Engineering Limited has resubmitted the Draft Red Herring Prospectus (DRHP) for its upcoming initial public offering (IPO). The company had initially filed its draft papers in February. The IPO will follow the book-building process, with up to 50% of the offer available for allocation to qualified institutional buyers (QIBs), at least 15% to non-institutional investors (NIIs), and 35% to retail individual bidders. Garuda Construction and Engineering plans to issue shares with a face value of Rs 5, comprising a fresh issue of up to 18.30 million equity shares and an offer for sale of up to 9.50 million equity shares by promoter PKH Ventures. The proceeds from the fresh issue, amounting to Rs 1 billion, will be utilised for funding working capital requirements, general corporate purposes, and potential inorganic acquisitions. Established in 2010, Garuda Construction and Engineering ventured into the hospitality sector with the completion of the Golden Chariot Vasai Hotel & Spa in 2014. The company offers comprehensive civil construction services for residential, commercial, infrastructure, and industrial projects, along with additional services for infrastructure and hospitality ventures. Its capabilities include constructing concrete and composite steel structures, as well as providing O&M and MEP services and finishing works. The company currently has an order book comprising 12 on-going projects, including residential, commercial, industrial, and infrastructure developments, with a total contract value of Rs 14.08 billion. Financially, Garuda Construction and Engineering witnessed a significant growth in revenue from operations, increasing by 108.63% in fiscal 2022?23 compared to the previous fiscal year, along with a corresponding rise in profit after tax (PAT). The IPO is being managed by Corpwis Advisors Pvt Ltd. as the sole book-running lead manager, with Link Intime India Private Limited serving as the registrar. The equity shares are proposed to be listed on both the BSE and NSE stock exchanges. (Source: ET)

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement