What is IPO Grey Market Premium (GMP)?

IPO Grey Market Premium (GMP) is an unofficial, over-the-counter premium over the issue price that dealers and investors pay prior to official listing on NSE/BSE.

How is estimated IPO listing price determined?

Estimated Listing Price = Cut-off / Issue Price + Current Grey Market Premium (GMP). For example, an issue price of ₹100 with ₹40 GMP yields an estimated listing price of ₹140 (+40%).

What is Kostak rate in an IPO?

Kostak rate is the fixed profit earned by selling an IPO application before allotment, irrespective of whether the application is allotted shares or not.

What is Subject to Sauda in IPO trading?

Subject to Sauda is an informal contract where payment is made only if the seller receives share allotment in the IPO.

Is IPO Grey Market Premium (GMP) regulated by SEBI?

No. Grey Market transactions are non-exchange over-the-counter commitments and are not officially regulated or endorsed by SEBI. Investors should treat GMP as an informal sentiment indicator.

When is the Garuda Construction and Engineering Limited IPO allotment date?

The basis of allotment for Garuda Construction and Engineering Limited IPO is scheduled to be finalized on 11 Oct 2024.

Where can I check Garuda Construction and Engineering Limited IPO allotment status?

You can check your allotment status on the official registrar portal (Link Intime India Private Limited) or on the BSE India website using your PAN card number or application number.

When will unallotted IPO application funds be unblocked?

Refund initiation and UPI mandate revocation for unallotted applications starts on or around 12 Oct 2024.

IPO GreyPremiumLIVE

Grey Market Intelligence

Garuda Construction and Engineering Limited

ListedMainboard

Infrastructure & Construction · NSE / BSE

Garuda Construction and Engineering Limited, established in 2010, is a versatile construction company offering services across residential, commercial, infrastructure, and industrial projects. Along with core construction, it specializes in operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP) services, and finishing works. The company also handles infrastructure and hospitality projects, ensuring end-to-end project execution. As of September 28, 2024, Garuda had a dedicated team of 65 permanent employees, supporting its wide range of services.

Price Band

₹90 – ₹95

Issue Size

₹264 Cr

Lot Size

157 shares

GMP

—

Est. Listing

₹95

at current GMP

Subscribed

7.55x

overall

Open

8 Oct 2024

10 Oct 2024

Allotment

11 Oct 2024

Refund

12 Oct 2024

Demat Credit

13 Oct 2024

Listing

15 Oct 2024

Last updated 12 days ago

Overview Live GMP Live Subscription Allotment Status

Official Registrar Verification

Garuda Construction and Engineering Limited Allotment Status

Designated Registrar: Link Intime India Private Limited

Check Allotment Status Registrar Portal BSE Portal

Allotment Date

11 Oct 2024

Basis finalization

Refunds Initiate

12 Oct 2024

Mandate release

Demat Credit

13 Oct 2024

Shares in demat

Listing Debut

15 Oct 2024

Trading begins

About Garuda Construction and Engineering Limited Public Issue & Market Profile

Garuda Construction and Engineering Limited is bringing an initial public offering (IPO) in the Infrastructure & Construction sector with an aggregate issue size of ₹264.1 Crores. The shares are offered at a price band of ₹90 to ₹95 per equity share on NSE and BSE. Currently, grey market participants and retail investors are watching the bidding trend, premium movement, and anchor book demand with keen interest.

Public Issue & Allotment Procedure:

Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 157 shares (approx. ₹14,915 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.

Official Allotment Timelines & Registrar Guidance:

Allotment reconciliation will be managed by Link Intime India Private Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2024-10-13, while un-allotted funds or UPI block mandates will be released on 2024-10-12.

Frequently Asked Questions

What if my name is not showing on the registrar portal?

Allotment records are updated in batches. If the status is not yet available, please wait a few hours until the basis of allotment is fully finalized.

How will I receive the refund if I don't get allotment?

Since funds are blocked under ASBA/UPI, the bank will automatically release the blocked hold on your funds upon receipt of revocation instructions from the sponsor bank.