Garuda Construction and Engineering listed in the stock market with 8.63% premium, check details

The company’s shares touched an intraday high of Rs 120.73

By 12.20 pm, the company’s shares were trading at Rs 112.56 on the BSE, up 18.48% (Rs 17.56) from its issue price. By this time, the company’s shares had also touched their intraday high of Rs 120.73 and intraday low of Rs 100.30. At the time of writing the news, the company’s current market cap was Rs 1,049.23 crore.

The IPO of the construction and engineering company got 7.55 times the 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 a price band of Rs 92 to Rs 95 per share for its IPO. According to the company, out of the money raised from the IPO, an amount of up to Rs 100 crore will be used for working capital needs. While the remaining money will be used for general corporate purposes including mergers and acquisitions.

The stock market opened at the green mark on Tuesday.

Today, on Tuesday, the Indian stock market opened in the green. The BSE Sensex opened with a gain of 128.81 points at 82,101.86 points, while the NSE Nifty 50 also opened with a gain of 58.35 points at 25,186.30 points. On Monday too, the Indian stock market opened with a gain. Whereas in the previous trading session i.e. last week on Friday, the market closed with a big decline.