Garuda Construction and Engineering Ltd. has announced public offering of 27800000 shares at a price of Rs 5.00 each for Cash at a Premium of Rs 90.00 per share. The gross proceeds of the issue are expected to be Rs 26,410.00 lakhs.

The company's initial public offer (IPO) will open on 08 October 2024 and is expected to close on 10 October 2024, subject to customary closing conditions. The price band of the issue has been fixed at Rs 92.00-95.00 per share.

The IPO includes a fresh Issue of 27800000 Equity Shares of the Company at an price of Rs 95.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 157 shares with bids in multiples of 157.

Garuda Construction and Engineering Ltd. anticipates using the proceeds of the issue for .

Corpwis Advisors Pvt. Ltd. as lead manager & Link Intime India Pvt. Ltd. is the registrar, to the issue.