Business Standard

Garden Reach Shipbuilders & Engineers Ltd - IPO

Issue Type

Book Building

Issue Size (₹ Cr.)

343.59 cr

Price Range (₹)

118

Lot Size

120

Min Investment (₹)

14,160.00

Listing Exchange

MumbaiNSE

Open Date

24-Sept-2018

Close Date

01-Oct-2018

Listing Date

10-Oct-2018

Garden Reach Shipbuilders & Engineers Ltd News

    The Shares of Garden Reach Shipbuilders & Engineers Ltd have now been listed.

    Garden Reach Shipbuilders & Engineers Ltd IPO Details

    Initial public offering of 29,210,760 Equity Shares of face value of Rs.10 each (equity shares) of Garden Reach Shipbuilders & Engineers Limited (the company or the issuer) through an offer for sale by the promoter, the President of India, acting through the Ministry of Defence, Government of India (the selling shareholder) for cash at a price of Rs.118* per equity share (the offer price), aggregating to Rs.343.59 # Crores (the offer). The Offer included a reservation of up to 572,760# equity shares aggregating to Rs.6.47 Crores for subscription by eligible employees (as defined herein) (Employee reservation portion). The offer less employee reservation portion is referred to as the net offer. The offer and the net offer constituted 25.50% and 25.00% respectively, of the post offer paid-up equity share capital of the company.The face value of equity shares is Rs.10 each and the offer price is 11.8 times the face value of the equity shares.* A discount of Rs.5 per Equity Share to the Offer Price was offered to the Retail Individual Bidders (Retail Discount) and a discount of Rs.5 per Equity Share to the Offer Price was offered to the Eligible Employees Bidding in the Employee Reservation Portion (Employee Discount).# Subject to finalization of Basis of Allotment.

    Objective of issue

    The Disinvestment of 29,210,760 shares by the Selling Shareholders. Listing of Shares on the Stock Exchanges.

    Garden Reach Shipbuilders & Engineers Ltd Contact Details

    Garden Reach Shipbuilders & Engineers Ltd, 205/208, Anarkali Market, Jhandewalan Extn, New Delhi - 110055

    Phone - 91-011-42541965/42541953

    Fax - 91-011-41540064

    Email - co.sec@grse.co.in

    Website - www.grse.in