Garuda Construction and Engineering's Rs 264 crore IPO to open on Oct 8

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Garuda Construction and Engineering's Rs 264 crore IPO to open on Oct 8 - Business Standard

Quick Summary:

Proceeds from its fresh issuance to the extent of Rs 100 crore will be utilised for working capital requirements; and balance towards general corporate purposes including unidentified inorganic acquisitions.

Garuda Construction and Engineering Ltd on Thursday said it has fixed a price band of Rs 92-95 per share for its Rs 264-crore Initial Public Offering (IPO).

The IPO is a mix of fresh issue of 1.83 crore equity shares and an Offer For Sale (OFS) of 95 lakh equity shares by promoter PKH Ventures.