Garden Reach Shipbuilders & Engineers Limited IPO (Garden Reach Shipbuilders IPO) Detail

Sep 24, 2018 - Oct 1, 2018

Incorporated in 1913, Garden Reach Shipbuilders & Engineers Limited is a Mini Ratna-Category I company engaged in shipbuilding company under the administrative control of the MoD.

The company primarily adheres to the requirements of the Indian Navy and the Indian Coast Guard. It is also engaged in the engineering and engine production activities and manufactures deck machinery items, pre-fabricated portable steel bridges, and marine pumps.

Garden Reach Shipbuilders has three separate facilities for shipbuilding, located at Kolkata, India. The ships are built at the Main Works Unit and the Rajabagan Dockyard. The third facility, is mainly used for fitting out and repair of ships.

The Company has many firsts to its credit in the Indian shipbuilding industry. It is the first Indian shipyard to integrate carbon composite superstructure with steel hull for the construction of the third ASW Corvette for the Indian Navy.

It is also the first and the only Indian shipyard to build and subsequently deliver a fleet tanker to the Indian Navy and to build and subsequently deliver a hovercraft to the Indian Coast Guard among others.

The shipbuilding division contributes majorly to the company's revenue from operations. It has contributed 81.23%, 75.10%, 79.09% and 83.33% of gross revenue from operations in September 30, 2017, Fiscals 2017, 2016
and 2015 respectively.

Strengths of the Company-

1. Strong Order Book of Rs 208,033.60 million as on February 28, 2018.
2. Significant advantage over global shipyards in securing contracts due to Make in India initiative.
3. Offers diversified products and services in addition to shipbuilding
4. Modern infrastructure with integrated shipbuilding capabilities

The company has 2,224 full-time employees on its payroll.

Company Promoters:

The Promoter of the company is the President of India, acting through the Ministry of Defence. The Promoter, along with its
nominees, currently hold 100% of the pre-Offer paid-up Equity Share capital of the Company.

Company Financials:

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. Millions)
	30-Sep-17	31-Mar-17	31-Mar-16	31-Mar-15(Proforma)
Total Assets	46,999.32	45,650.04	44,514.94	40,009.76
Total Revenue	5,8583.93	11,579.57	18,467.47	16,391.63
Profit After Tax	180.69	122.32	1,620.47	517.28

Objects of the Issue:

The objects of the Issue are to:

1. Carry out the disinvestment of Equity Shares by the Selling Shareholder
2. Achieve the benefits of listing the Equity Shares on the Stock Exchanges.

The Company will not receive any proceeds from this Offer and all proceeds shall go to the Selling Shareholder.

Garden Reach Shipbuilders IPO Details

IPO Opening Date	Sep 24, 2018
IPO Closing Date	Oct 1, 2018
Issue Type	Book Built Issue IPO
Face Value	₹10 per equity share
IPO Price	₹114 to ₹118 per equity share
Market Lot	120 Shares
Min Order Quantity	120 Shares
Listing At	BSE, NSE
Issue Size	29,210,760 Eq Shares of ₹10 (aggregating up to ₹344.69 Cr)

Garden Reach Shipbuilders IPO Tentative Timetable

The Garden Reach Shipbuilders IPO open date is Sep 24, 2018, and the close date is Oct 1, 2018. The issue may list on Oct 5, 2018.

IPO Open Date	Sep 24, 2018
IPO Close Date	Oct 1, 2018
Basis of Allotment Date	Oct 1, 2018
Initiation of Refunds	Oct 3, 2018
Credit of Shares to Demat Account	Oct 3, 2018
IPO Listing Date	Oct 5, 2018

Garden Reach Shipbuilders IPO Lot Size

The Garden Reach Shipbuilders IPO market lot size is 120 shares. A retail-individual investor can apply for up to 14 lots (1680 shares or ₹198,240).

Application	Lots	Shares	Amount (Cut-off)
Minimum	1	120	₹14,160
Maximum	14	1680	₹198,240

Retail & Employee Discount

A discount of Rs 5 per equity share is offered to applications in retail and employee quota.

IPO Notices

Issue Date Extended

The issue closure date has been extended up to 01 October 2018. The Price band has been revised from 115/- to Rs. 118/- To Rs. 114/- to Rs. 118/- per share.

Garden Reach Shipbuilders IPO Subscription Status (Bidding Detail)

The Garden Reach Shipbuilders IPO is subscribed 1.02x times on Oct 1, 2018 17:00. The public issue subscribed 0.24x in the retail category, 1.81x in the QIB category, and 0.31x in the NII category. Check Day by Day Subscription Details (Live Status)

Category	IPO Subscription
QIB	1.81x
NII	0.31x
RII	0.24x
Employee	0.14x
Total	1.02x

Garden Reach Shipbuilders IPO Prospectus

Garden Reach Shipbuilders IPO Rating

492

3.7

Rating:

Vote Here ...

Garden Reach Shipbuilders IPO Listing Date

Listing Date	Wednesday, October 10, 2018
BSE Script Code	542011
NSE Symbol	GRSE
Listing In
ISIN	INE382Z01011
IPO Price	₹118 per equity share
Face Value	₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume

BSE
₹118.00
₹104.00
₹95.35
₹109.50
₹105.10
570,105

NSE
₹118.00
₹102.50
₹95.00
₹109.00
₹103.30
3,073,888

Garden Reach Shipbuilders IPO Reviews / Ratings

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Choice Equity Broking Pvt Ltd - Avoid
SMC Global - Subscribe
Canara Bank - Subscribe
Asit C. Mehta Investment Intermediates Ltd - Subscribe
GEPL Capital Ltd - Subscribe

Company Contact Information

Garden Reach Shipbuilders & Engineers Limited
43/46 Garden Reach Road
Kolkata - 700 024
West Bengal, India

Phone: 033-2469 8545
Email: co.sec@grse.co.in
Website: http://www.grse.in/

Garden Reach Shipbuilders IPO Registrar

Alankit Assignments Ltd
   Alankit House 2E/21,
   Jhandewalan Extension,
   New Delhi - 110055

Phone: (011) 4254 1234
Email: info@alankit.com
Website: https://www.alankit.com/

Garden Reach Shipbuilders IPO Lead Manager(s)

Lead Manager Reports

Garden Reach Shipbuilders IPO FAQs

What is Garden Reach Shipbuilders IPO?

Garden Reach Shipbuilders IPO is a main-board IPO of 29,210,760 equity shares of the face value of ₹10 aggregating up to ₹344.69 Crores. The issue is priced at ₹114 to ₹118 per equity share. The minimum order quantity is 120 Shares.

The IPO opens on Sep 24, 2018, and closes on Oct 1, 2018.

Alankit Assignments Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
When Garden Reach Shipbuilders IPO will open?

The Garden Reach Shipbuilders IPO opens on Sep 24, 2018 and closes on Oct 1, 2018.
What is the lot size of Garden Reach Shipbuilders IPO?

Garden Reach Shipbuilders IPO lot size is 120 Shares and the minimum order quantity is 120 Shares.
How to apply for Garden Reach Shipbuilders IPO?

You can apply in Garden Reach Shipbuilders IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
When Garden Reach Shipbuilders IPO allotment?

The finalization of Basis of Allotment for Garden Reach Shipbuilders IPO will be done on Oct 1, 2018, and the allotted shares will be credited to your demat account by Oct 3, 2018. Check the Garden Reach Shipbuilders IPO allotment status.
When is Garden Reach Shipbuilders IPO listing date?

The Garden Reach Shipbuilders IPO listing date is on Wednesday, October 10, 2018.

Garden Reach Shipbuilders IPO Message Board

Ranked Members

128. tnk |Nov 3, 2018 12:30

Can't understand why no allotment in coal india ofs, when applied at cutoff 150 nos, my broker debited 39900 initially but got same credited in the evening.

127. yazoo |Oct 12, 2018 00:27

wise words
Investing based on how you vote is still a terrible idea

and let me add vice versa !!

October 10, 2018 9:00am by Barry Ritholtz

126. yazoo |Oct 12, 2018 00:23

Spoken like a true anarchist ,,, but please remember
on CRIMEA ,.. Indian babudum is still stuck in non aligned era

"Past performance is no guarantee of future results. Every party is desperate for votes and worse the Intelligent Indian is stuck between a rock and hard place

125. Anarchist |Oct 11, 2018 11:19

IPO Mentor (500+ Posts, 1400+ Likes)

Isn't it absurd to trust a private company with zero experience in aircraft manufacturing, with technology of the nation's most advanced fighter jet? Especially when even a DRDO official was caught engaging in espionage, leaking sensitive data about Brahmos Missile system to the enemy nation Pakistan? .....
What kind of patriotism can inspire one to take such decisions is something one needs to ponder on ..

Load more comments (1 replies)

125.2. juju |Oct 11, 2018 21:21

Top Contributor (300+ Posts, 300+ Likes)

Call me whatever you want, with first hand knowledge of HAL, I know a global giant like Dassault can better handle QCC with a private player

125.3. yazoo |Oct 12, 2018 00:18

No real data on rafael jet deal is out ,,, 3 ways to sort out the mess PIL in SC and CAG audit . someone has filed a pil already . I dont particularly trust the parliamentary committee.

The fighter purchase has gotten delayed since George Fernandes had scrapped make in India Mirages ... Imagine the delay !!!
More importantly India needs Bomber Jets soon cause mirages are aging and will get phased out.. the tough things like training pilots and mating weapon payloads and doin the smart hacks take time...

124. Anarchist |Oct 9, 2018 10:58

IPO Mentor (500+ Posts, 1400+ Likes)

If 'THEY' win the elections again..blindly pick all Reliance stocks....Infra, Industries, Defence, Naval whatever ..as those would double every 6 months for the next 5 years...

One may also initiate a 'pair trade' to maximize returns..ie- Buy truckloads of Reliance Naval / Defence and simultaneously sell some 'Nation Building's scrips like Garden, BDL or HAL against margin intraday, everyday... ..Cheers!!

Load more comments (4 replies)

124.1. yazoo |Oct 11, 2018 03:25

what about adani stocks ?

id pick it stock like tcs etc for the longer term cause it is not politically sensitive

124.2. yazoo |Oct 11, 2018 03:28

If congress comes it is not goin to be any different ... adani ambani get ib data and assess how to fund partys on election to election basis

Revelations of hamish mcdonald are rather interesting

124.3. Anarchist |Oct 11, 2018 10:28

IPO Mentor (500+ Posts, 1400+ Likes)

Let's take two notional parties B and C for example....Now the desclaimer here is these parties are purely notional and have no co relation whatsoever with the ones that exist in reality and any resemblance to any real life party could only be the result of nothing but the coincidence..

So to begin with, the macro picture of their performance might appear similar prima facie, but the modus operandi differs drastically.....A careful look at the micro level reveals that party C seems to take rational decisions that do not disrupt the lives of the middle class or don't siphon off the last drop of blood of known tax payers while dishing out freebies/gifts to the class of people who never contributed towards the nation"s progress...So unlike the notional party B, the notional party C doesn't seem to use a huge chunk of taxpayer's money for absolutely unproductive purposes.....Instead of compelling those people to work to earn their living (Along the lines of NAREGA scheme), party B appears to engage in appeasing that class of people probably for a reason no different than getting votes...
Also party C doesn't seem to tax every single avenue of making money by way of countless different taxes, all at once,while constantly raising prices of everything essential for living....

Also the holier than thou approach makes the neutral onlooker raise eyebrows...One can't be free of all siins ( take for instance corruption) simply because they accused others of it....Moreover the whole point is lost if the amount of money swindled by way of corrupt activities is far less than the mammoth amounts wasted, destroyed in the broad daylight in the name of some seemingly futile nation building activities....

124.4. yazoo |Oct 11, 2018 12:34

You forget that there is a lag effect of policys of the mother party ... which the brahmachari party has suffered ... imagine how much more the mother party can extract from middle class if it comes to power ... especially when the raja babu is clueless about pretty much most things and might be having partial idiopathy ... his second rung who is the middle country king is no less idiopathic !!
read
also some journos are hinting sabotage with a powarful ex secretary now having a vital post in the PMO and we all know that the weakest link in this govt ins the koshadhyaksha
Feet of clay
How top-down decision-making, delusions of grandeur led a strong government to poor decisions

124.5. Anarchist |Oct 11, 2018 12:48

IPO Mentor (500+ Posts, 1400+ Likes)

@.
id pick it stock like tcs etc for the longer term cause it is not politically sensitive

^^^^. No ..Kot that either ...because Putin felt betrayed on the Crimea issue where unlike China, India refrained from taking a firm stand and now as THEY purchased the S400 system from Russia, America feels betrayed which is deducible from the recent diplomatic change at the Oval and the latest statement by Donald Trump...

India's export industry must now prepare to face America's wrath.....

124.6. Anarchist |Oct 11, 2018 13:00

IPO Mentor (500+ Posts, 1400+ Likes)

One must avoid boarding long distance flights if they can't handle Jet lags ... Similarly, THEY need not be at the helm of the nation if THEY ain't capable of handling lags, adversities...

THEY knew the situation beforehand and THEY still promised a utopia where everything would be hunky dory ....I'm afraid but no amount of explanations can suffice for people to excuse them for what THEY have done...

123. Anarchist |Oct 11, 2018 10:49

IPO Mentor (500+ Posts, 1400+ Likes)

I'd be keenly watching the amount of 'Long Term Capital Gains Tax' 'THEY' manage to collect after all the grandfathering..

122. yazoo |Oct 11, 2018 03:21

I recovered partial losses from GIC ipo by shorting Garden reach .. wonder why i didnt increase my short ...i expect it to fall 10% at least in short term from here.
90 is fair value ... ie if govt doesnt cheat shareholders like it did to ONGC and oil cos
Greedy finance and disinvestment ministry is forcing LIC to bail out its fiscal deficits.This is the same formula used by congress govt ,
The promoter should at least leave say a 5 to 10% for the retailer ... forget the big investor. Wonder how LIC will make money for its policyholders.. wont take time to make LIC Bimaru
I wonder how much difference is there between Congress and BJP on eco policy
BJP has over taxed middle class Only thing is there is no mega corruption as in congress but there is mega freebee culture which is equally dangerous for the economy
Now lic is facing poor profits and cash crunch / deficits as per EcoTimes

121. KVR Krishna |Oct 10, 2018 11:06

NSE 106 /-
not a bad listing...

https://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=GRSE&series=EQ

121.1. PavanM |Oct 10, 2018 14:30

Top Contributor (400+ Posts, 300+ Likes)

an IPO she leave at least 20-30% for retail investors as the whole process takes at least 10 days. As market is positive today, there is no panic selling otherwise it would have listed further less like IRCON. so, GRSE issue should have fixed issue price at 80.

120. Marketvisual |Oct 6, 2018 13:58

Good to see that there is no response in this forum..
It seemss that 20 percent RII who applied for it has gone out of india for relaxing..
Its good for them to be out till diwali on vacations. Because they wont be able to face the listing of this issue.. they would be thinking 50 percent in discount??
Tough time for them.. and everone who has invested in equity on higher levels..

Load more comments (5 replies)

120.1. Devendrap |Oct 6, 2018 16:38

Are working in NSE ... If not then how can you say that it will list with 50% discount. Can you tell me any one share name which full subscribe and listed with 50% discount. Please share details if you have ..

120.2. PavanM |Oct 9, 2018 17:51

Top Contributor (400+ Posts, 300+ Likes)

way back in 2008 when Im very much new to IPOs & Share market itself and not even member of Chittorgarh. Archidply price band is 70-80 in 2008 subscribed by 1.5 times. It listed at 72 vs issue price of 74 i think and touched a low of 48 -50 if I remember it correctly on listing day. need not be exactly 50% discount. but its very much possible that one may wait for price to cross at least issue price & many sold in loss at 50 levels. As I applied & got only 1 lot, I had hold it for around 8 years and exited when I got my issue price as I don't need funds also at that time.

120.3. PavanM |Oct 9, 2018 17:53

Top Contributor (400+ Posts, 300+ Likes)

very few trades happened at 72 & it didn't give any scope to exit on listing before falling to sub 50 levels. Also there was no preopen kind of at that time to gauge listing price.

120.4. PavanM |Oct 9, 2018 18:01

Top Contributor (400+ Posts, 300+ Likes)

After burning my fingers in Reliance power IPO in Jan 2008 like many other retail investors, I kept myself away from IPOs for 4-5 months. Again after seeing few successful IPOs, applied for Archidply on SPTulsian recommendation in his website sptulsian.com & few other brokerage houses.
and it took around 8 years to cross issue price for Archidply. On a lighter note, after applying for Archidply IPO in 2008, my elder son was born in December 2008 & Archidply was able to cross its issue price after he joined in 2nd or 3rd class i think. :-) :-)

120.5. PavanM |Oct 9, 2018 18:09

Top Contributor (400+ Posts, 300+ Likes)

https://www.chittorgarh.com/ipo/archidply_ipo/181/
check the above link for verifying facts if some one want. we can see in above page, some one by name Pankaj kalani got 2400 shares of Archidply in IPO. just imagine how much he lost with 1 IPO in 2008.

120.6. Devendrap |Oct 9, 2018 20:40

Correct sir presently Archidply share rate 38 RS only. It's really good lesson learn for beginners.
I was applied 8640 share for garden ipo in first day in HNI But due to SEBI RULES not able to withdrawn my application.
Thanks to God for 0 allotment and now it's this ipo is lesson learn for me for future ipo application

120.7. PavanM |Oct 10, 2018 09:55

Top Contributor (400+ Posts, 300+ Likes)

Archidply all time low is Rs.4.5/- vs issue price of some 74.

119. Devendrap |Oct 8, 2018 16:10

Finally lucky ???? got 0 allotment in HNI CATEGORIES

119.1. SJ |Oct 8, 2018 16:12

IPO Mentor (900+ Posts, 2100+ Likes)

How ?
HNI sub. only 30 %

119.2. Devendrap |Oct 8, 2018 16:23

I don't no but my full amount refunded in my bank account. May be my application rejected due to any unknown reason..but I am feeling relaxed now

118. Regulagedda Ambica Prasad |Oct 8, 2018 12:26

Top Contributor (200+ Posts, 100+ Likes)

GRSE : Allotment done at 113

117. Marketvisual |Oct 8, 2018 10:19

Hahaaha.. check out awas financial today.. which is a bigger brand then garden reach ipo..
It dosent marrer any ipo is good or bad..
Its the market condition wherein which they are listed.
1 reason is higher valuation.
2 readon is bad market condition..
3 reason is.. whoever got this ipo will sell it
So . Its gone..

117.1. Devendrap |Oct 8, 2018 10:50

Agree

116. Marketvisual |Oct 7, 2018 09:08

First day 20-25 percent down opening..
2nd or third day.. or within a week.. again 20 prrcent down in total..

116.1. Devendrap |Oct 7, 2018 21:37

Synergy green ipo subscribe only 1.1 times but open with 20% positive then how can you assume that it will open with 25% negative.
Dear no one assume in ipo for its opening price. Recently Ircon subscribe 10 times but open 15% negative

115. kumar babu |Oct 4, 2018 17:25

Tomorrow listing price, any guesses !

115.1. Devendrap |Oct 4, 2018 19:04

Allottement out?

114. Anil Singhavi |Oct 4, 2018 10:42

Laagta he jaise RBI aur SEBI milkar kar companies ki vat laga rahe he.

Is IPO ki listing pe public iski kahi vat na lage de.

If such news/whatsapp message spread in market before listing then it will be the worst scenario for this IPO. people who got allotted can't forgot this in their nightmare.

113. Devendrap |Oct 3, 2018 20:19

Hni and retail me kya sabhi Ko allottement milega kyonki dono me subscription full subscribe nhi huva?

113.1. Devendrap |Oct 3, 2018 22:04

Dear admin
Please advise as I am new for ipo

112. v for vendetta |Sep 27, 2018 00:22

Top Contributor (300+ Posts, 300+ Likes)

Lower price band reduced by Rs 1.
Awesome, lets grab this opportunity.
No sarcasm

112.1. DownriteVJ |Oct 2, 2018 12:32

IPO Guru (1200+ Posts, 1100+ Likes)

haha

112.2. ipo share |Oct 3, 2018 00:14

Really very good opportunity, once in lifetime. Dil garden garden ho gaya.
Waah hazoor waah.

111. Anil Singhavi |Oct 2, 2018 11:23

Allotment : 8-10-2018
Credit share : 9-10-2018
Unblock : 9-10-2018
Listing : 10-10-2018

110. Devendrap |Oct 1, 2018 22:24

Any one can share total subscription please

110.1. HARI MODI |Oct 2, 2018 09:10

QIB 1.81
Non Institutional Investors 0.31
Retail Individual Investors (RIIs) 0.24
Employees 0.14
Total 1.02

109. Rajesh.n.n |Oct 1, 2018 11:49

Last chance to withdraw application

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