Sunday, September 23, 2018

Garden Reach Shipbuilders IPO Subscribed 1.02 times; QIB 1.81, HNI 0.31 & Retail 0.24 times

Garden Reach Shipbuilders IPO to hit the market on 24th September and ends on 26th September. Its another PSU company to hit the market. The company looks good with their overall performance but some how it is not able to get the gmp going. The grey market is not started for the ipo. They are offering Rs.5 discount for the retail and employees but still the market is negative and it might be interesting how Garden Reach ipo will get the subscription numbers. There is no way one can assume in this but look at the company its a good bet for long term for sure. Check Garden Reach ipo gmp by day to day.

Note: Garden Reach Shipbuilders IPO Dates extended till 1st October 2018.

Garden Reach IPO Subscription Numbers
(Fully Subscribed)

Category Day 4 Day 5 Day 6
QIB 1.22 1.81 1.81
HNI 0.30 0.30 0.31
RII 0.22 0.23 0.24
EMP 0.13 0.13 0.14
Total 0.72 1.01 1.02

Garden Reach Shipbuilders IPO Review:
  • Good Bet for Long Term
Brokerage Firm IPO Reviews:
  • Asit C Mehta: Subscribe for Long term
  • Canara Bank Securities: Subscribe
  • IIFL: Not Rated
Garden Reach Shipbuilders IPO Dates & Price Band:
  • IPO Open: 24-September-2018
  • IPO Close: 01-October-2018
  • IPO Size: Approx Rs. 345 Crore (Approx)
  • Face Value: Rs.10 Per Equity Share
  • Price Band: Rs. 115 to 118 Per Share
  • Listing on: BSE & NSE
  • Retail Portion: 35%
  • Equity: 29,210,360 Shares
  • Discount: Rs.5 Per Share (RII & EMP)
Garden Reach Shipbuilders IPO Market Lot:
  • Shares: Apply for 120 Shares (Minimum Lot Size)
  • Amount: Rs.14,160 (For QIB & HNI)
  • Amount: Rs.13,560 (For RII & EMP)
Garden Reach Shipbuilders IPO Allotment & Listing:
  • Basis of Allotment: 03-October-2018
  • Refunds: 04-October-2018
  • Credit to demat accounts: 05-October-2018
  • Listing: 08-October-2018