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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.
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.
| 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 | ||
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.
| 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) |
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 |
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 |
A discount of Rs 5 per equity share is offered to applications in retail and employee quota.
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.
The Garden Reach Shipbuilders IPO is subscribed 1.02 times on Oct 1, 2018 17:00. The public issue subscribed 0.24 in the retail category, 1.81 in the QIB category, and 0.31 in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.81 |
| NII | 0.31 |
| RII | 0.24 |
| Employee | 0.14 |
| Total | 1.02 |
| 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 |
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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/
Alankit Assignments Ltd
Phone: (011) 4254 1234
Email: info@alankit.com
Website: https://www.alankit.com/
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.
The Garden Reach Shipbuilders IPO opens on Sep 24, 2018 and closes on Oct 1, 2018.
Garden Reach Shipbuilders IPO lot size is 120 Shares and the minimum order quantity is 120 Shares.
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.
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.
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