At the NSE, the firm’s shares rose 10.52 percent to Rs. Debuted at 105. The stock rose 27.35 percent during the day to Rs. 120.99. It later increased to Rs. Finished on 105.
The market valuation of the company is Rs. 993.96 crores.
In terms of traded volume, 32.50 lakh shares of the company were traded on BSE and 460.93 lakh shares on NSE during the day.
Garuda Construction & Engineering’s initial public offering (IPO) was oversubscribed 7.55 times on the last day of share sale on Thursday.
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The initial share sale price per share is Rs. was 92-95.
The IPO was a combination of a fresh issue of 1.83 crore equity shares and an offer for sale (OFS) of 95 lakh equity shares by promoter PKH Ventures.
Proceeds from fresh issue upto Rs 100 crore will be used for working capital requirement; and the balance towards general corporate objectives, including unrecognized inorganic acquisitions.
Mumbai-based Garuda Construction currently spends Rs. Engaged in civil construction of six residential projects, two commercial projects, one industrial project and one infrastructure with an order book of Rs 1,408.27 crore.
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