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 ₹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)|
|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.
|Issue Open||Sep 24, 2018 - Oct 1, 2018|
|Issue Type||Book Built Issue IPO|
|Issue Size||29,210,760 Eq Shares of Rs 10 |
(aggregating up to Rs 344.69 Cr)
|Face Value||Rs 10 Per Equity Share|
|Issue Price||Rs 114 - Rs 118 Per Equity Share|
|Market Lot||120 Shares|
|Min Order Quantity||120 Shares|
|Listing At||BSE, NSE|
|Bid/Offer Opens On||Sep 24, 2018|
|Bid/Offer Closes On||Oct 1, 2018|
|Finalisation of Basis of Allotment||Oct 1, 2018|
|Initiation of Refunds||Oct 3, 2018|
|Credit of Shares to Demat Acct:||Oct 3, 2018|
|IPO Shares Listing Date:||Oct 5, 2018|
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.
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