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 and Engineering Limited is gearing up for its upcoming initial public offering (IPO) and recently, the company has raised Rs 75 crores from anchor investors ahead of the public issue.

Garuda Construction and Engineering has secured Rs 75 crore from anchor investors ahead of its IPO, which opens for subscription on October 8th. The IPO aims to raise Rs 264 crore.

Garuda Construction and Engineering Ltd secures Rs 75 crore from anchor investors ahead of its IPO, set to open on October 8.

The Rs IPO of Garuda Construction includes a fresh share sale of 1.83 crore shares and an offer-for-sale (OFS) of up to 95 lakh shares by its promoter PKH Ventures worth Rs 90.25 crore.

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

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 didn't raise money through anchor placement. (Image: Freepik) Garuda Construction and Engineering will launch its IPO on October 08. The company will raise a sum of Rs 264.10 crore from the initial capital market.

Garuda Construction and Engineering Ltd on Monday said it has raised Rs 75 crore from anchor investors, a day before its initial share-sale opening for public subscription.

Garuda Construction and Engineering plans to open its initial public offering for subscription on Tuesday, aiming to sell shares valued at an aggregate of Rs 264.1 crore. The IPO consists of a fresh issue of Rs 173.85 crore and the rest as part of an offer for sale.