Garden Reach Shipbuilders IPO allotment: We can check the basic allotment on or about October 1 2018. This ipo was not fully subscribed in few quotas so we think there is full chance to get allotment. While listing will be done on October 5 2018.
The IPO of the government company Garden Reach Shipbuilders Ed Engineers (GRSE) issue was open on Monday. Investors have shown very little interest in this issue in the three days. This issue was subscribed to 0.03 times till Tuesday evening.
Basic Allotment Date: 5 October
Refunds Date: 6 October
Banking SMS Time: 2 PM
Website Update Time: 8 PM
Listing Date: 8 October
Check Allotment Here : Click Here
The company will raise Rs 344 crore from this issue. The price band for this IPO has been kept at Rs 115-118. Based on the upper price, the company’s market cap is Rs 1,351 crores. The company builds warships for the Indian Navy. Order size for new war carriers is Rs. 19,500 crores. It will be delivery from 2023. In the medium term, the company will depend on revenues for the Indian Navy. Current orders and new orders will be helpful in the company’s growth.
The company is headquartered in Kolkata. It is a government company, which has a Miniratna status. It comes under the Ministry of Defense. The company builds warships for Indian Navy and Coastguards. For the last three years, 90-93 per cent of revenues of the company came from the Indian Navy and the Coast Guard.
At the upper price of the price band, the company’s PE ratio is 16.1. This is based on the earnings of FY18. This valuation is more than the Kochi Shipyard, which is trading at 13.3 times the year of earnings.
Garden Reach Shipbuilders IPO Details
|Subscription Dates||24 Sept to 1 Oct 2018 (Date Extended)|
|Issue Price Band||INR 115 – 118|
|Minimum bid (lot size)||120 Shares|
|Minimum bid Price||INR 14160|
|Face Value||INR 10 per share|
|IPO Size||INR 236.55 Cr|
|Issue Type||Book Built Issue IPO|
|Listing At||BSE, NSE|