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Garuda Construction and Engineering Ltd. is set to launch its much-anticipated Initial Public Offering (IPO) from October 8 to October 10, 2024. Investors are keenly watching this offer, with hopes of securing a stake in the company’s future growth. Below is a breakdown of the IPO timeline and key details:
IPO Schedule (Tentative)
IPO Open Date: Tuesday, October 8, 2024
IPO Close Date: Thursday, October 10, 2024
Basis of Allotment: Friday, October 11, 2024
Initiation of Refunds: Monday, October 14, 2024
Credit of Shares to Demat Accounts: Monday, October 14, 2024
Listing Date: Tuesday, October 15, 2024
UPI Mandate Confirmation Deadline: 5 PM on October 10, 2024
Investment Highlights
Retail Investors: The minimum investment for retail investors stands at ₹14,915 for 157 shares. They can apply for up to 13 lots, amounting to a maximum of ₹193,895 for 2,041 shares.
Small HNIs (S-HNI): Those applying under the small HNI category can invest in a minimum of 2,198 shares with an investment of ₹208,810.
Big HNIs (B-HNI): For the higher HNI segment, the minimum lot size is 10,676 shares, requiring an investment of ₹1,014,220.
With the IPO drawing closer, Garuda Construction and Engineering aims to capitalize on its robust market position in the infrastructure sector. Investors are advised to stay updated with the timeline and prepare for the bidding window opening on October 8, 2024.
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