Garden Reach Shipbuilders & Engineers Limited will ready for approaching the primary market with its public issue, with an aim to raise Rs 236.55 crore. The issue will open on 24 September and close on 1st October 2018.
The government company, Garden Reach Shipbuilders and Engineers, finally has got SEBI approval for the IPO. The company filed papers on May 26. IDBI Capital Market and Securities and YES Securities (India) Merchant Banker for the initial public offer.
Garden Reach IPO Details: Dates 24 September – 1 October | Price-Band Rs 115-118 | Size: 236.55
Through the IPO, the government will sell its 17.5% stake. Government is bringing IPO to increase the value of public sector companies. The Promoter, along with all nominees, currently hold 100% of the pre-Offer paid-up equity share capital of the Company
The minimum lot size has been set at 120 shares, which at the upper end of the price band accrues to Rs 14160.
Garden Reach Shipbuilders & Engineers is a Mini Ratna-Category I company engaged in shipbuilding company under the administrative control of the MoD is priced between Rs 115 to Rs 118 per equity share of face value Rs 10.
The shares will be listed on the NSE and BSE.
IDBI Capital Market Services Limited and Yes Securities (India) Limited are the book running manager while Alankit Assignments Ltd is as registrar for Synergy ipo.
The company mainly builds warships for the navy and coast guard. By selling its share in government companies, the government has set a target of raising Rs 80,000 crore in the current financial year.
Garden Reach Shipbuilders IPO Review & Recommendation:
- Very Good IPO: We should appy for this IPO because listing gain is possible because asking price is very attractive. OR Government set IPO price very reasonable same as RITES IPO..
Garden Reach Shipbuilders IPO Details
|Subscription Dates||24 Sept to 1 October 2018 (IPO 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|
Garden Reach Shipbuilders IPO Financial Performance (in INR crore)
Garden Reach Shipbuilders IPO Subscription Status
|Category||Day 1||Day 2||Day 3||Day 4||Day 5||Day 3|
Garden Reach IPO Tentative Dates: Allotment & Listing Details:
- Bid/Offer Opens On: 24 Sept 2018
- Bid/Offer Closes On: 1 Oct 2018
- Basis of Allotment: On or about: 5 Oct 2018
- Refunds Status: On or about: 6 Oct 2018
- Credit of Equity Shares to demat accounts: On or about: 7 Oct 2018
- Listing Date: On or about: 8 Oct 2018
Garden Reach IPO GMP & Grey Market Premium: Click Here
Objects of the Issue:
- Carry out the disinvestment of Equity Shares by the Selling Shareholder
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges
- The Company will not receive any proceeds from this Offer and all proceeds shall go to the Selling Shareholder
Garden Reach Shipbuilders IPO Prospectus:
- DRHP Draft Prospectus
- Red Herring Prospectus
Garden Reach Shipbuilders IPO Lead Managers:
- IDBI Capital Market Services Limited
- Yes Securities (India) Limited
Garden Reach Shipbuilders & Engineers IPO Promoters:
- The Promoter of the company is the President of India, acting through the Ministry of Defence.
Company Contact Information:
GARDEN REACH SHIPBUILDERS & ENGINEERS LIMITED
43/46 Garden Reach Road,
Kolkata – 700 024,
West Bengal, India;
Contact Person: Sandeep Mahapatra,
Company Secretary and Compliance Officer
Tel: 033-2469 8545;
Fax: 033-2469 8150;
Email: [email protected];
Corporate Identity Number: U35111WB1934GOI007891
Garden Reach Shipbuilders & Engineers IPO Registrar:
Alankit Assignments Ltd
Alankit House 2E/21
New Delhi – 110055
Phone: (011) 4254 1234
Fax: (011) 4254 1967
Email: [email protected]