Garden Reach IPO: Should you subscribe? What leading brokerages say

State-run Garden Reach Shipbuilders and Engineers will open its initial public offering for subscription from September 24 with a price band of Rs 115-118 per share. The subscription will end on September 26. 

The public issue consists offer for sale of 2,92,10,760 equity shares by Government of India. The company aims to raise Rs 3.35 billion at the lower end of price band and Rs 3.44 billion at the higher end of the price band.

This would be third IPO from the government in the current financial year 2018-19 after IRCON International and RITES. The center is diluting 25 per cent stake