Garuda Construction and Engineering IPO: The IPO of Garuda Construction and Engineering, which opened on October 8 and closed on October 10, got listed in the stock market today. On Tuesday, the company's shares were listed in the market with a rise of more than 10 percent from its issue price of Rs 95. The company's shares were listed on BSE at Rs 103.20, an increase of 8.63 percent from its issue price. After which it reached the price of Rs 109.78 with an increase of 15.55 percent. Shares of Garuda Construction and Engineering were listed on NSE at Rs 105 with a gain of 10.52 per cent.
Company's shares touched intraday high of Rs 120.73
As of 12.20 pm, the company's shares were trading at Rs 112.56, up 18.48% (Rs 17.56) from its issue price on BSE. By this time the company's shares had also touched its intraday high of Rs 120.73 and intraday low of Rs 100.30. Till the time of writing the news, the current market cap of the company was Rs 1,049.23 crore.
IPO of construction and engineering company got 7.55 times subscription
Let us tell you that Garuda Construction and Engineering has raised Rs 264 crore through its IPO. The IPO of this construction and engineering company received a total subscription of 7.55 times. The company had fixed the price band of Rs 92 to Rs 95 per share for its IPO. According to the company, up to Rs 100 crore of the money raised from the IPO will be used for working capital needs. While the remaining funds will be used for general corporate purposes including mergers and acquisitions.
Stock market opened in green on Tuesday
Today on Tuesday, the Indian stock market opened in the green. BSE Sensex opened at 82,101.86 points with a gain of 128.81 points, while NSE Nifty 50 also opened at 25,186.30 points with a gain of 58.35 points. Even on Monday, the Indian stock market opened with gains. Whereas before this the trading session i.e. last week on Friday, the market had closed with a big fall.
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