Garuda Construction Closes 12.45% Higher On BSE After Market Debut

Garuda Construction and Engineering Limited on Tuesday (October 15) made a debut on the share market, with its shares listing at a premium on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Listing on BSE and NSE

The shares of the company listed ay Rs 103.20 on BSE, an 8.63 per cent premium to its issue price, while on the NSE, the stock opened at Rs 105, a 10.53 per cent premium.

By the end of the day, the stocks of the company closed at Rs 106.83 on the BSE, a 12.45 per cent rise from the issue price.

Similarly, on NSE, the company's stocks ended the day at Rs 105, maintaining its 10.53 per cent premium.

High Volume Trading on Day 1

The total traded volume on the NSE stood at 460.90 lakh shares, while the BSE saw a trading volume of 32.50 lakh shares.

Together, the total turnover for the stock on its debut day reached Rs 536.98 crore.

Market Capitalisation

At the closing prices, the market capitalisation of the company stood at Rs 993.96 crore on the BSE and Rs 976.94 crore on the NSE.

The company, which has been gaining traction in the construction and infrastructure sectors, had issued shares worth Rs 264.10 crore for subscription from October 8 to October 10.

The IPO was met subscribed 7.55 times overall. The retail portion was subscribed at 10.81 times, while the non-institutional investors' category was subscribed at 9.03 times. Qualified Institutional Buyers (QIBs) also saw a subscription rate of 1.24 times.

Corpwis Advisors Private Limited acted as the sole book-running lead manager for Garuda Construction’s IPO, while Link Intime India Private Limited handled the registrar duties.