Garden Reach Shipbuilders IPO

Garden Reach Shipbuilders IPOGarden Reach Shipbuilders IPO overview - Garden Reach Shipbuilders is a shipbuilding company in India under the administrative control of the MoD and primarily adheres to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. In addition to ship and warship building capabilities, the company is engaged in engineering and engine production activities. As a part of its engineering division, it manufactures deck machinery items, pre-fabricated portable steel bridges and marine pumps. Its shipbuilding division contributes the maximum to revenue from operations and accounted for 81.23% and 75.10% of gross revenues from operations for the six months ended 30 September 2017 and 12 months ended 31 March 2017.

In last 5 decades, it has built and delivered more than 750 vessels ranging from small to large and advanced vessels to carry men and materials as well as for the surveillance of the coast line. The company has 3 separate facilities for shipbuilding, all of which are located in close vicinity of each other at Kolkata. It builds ships at the Main Works Unit and the Rajabagan Dockyard. The third facility, the FOJ Unit is primarily used for fitting out and repair of ships. The company acquired the Rajabagan Dockyard from Central Inland Water Transport Corporation Limited in the year 2006. The DEP Unit (Diesel Engine Plant) in Ranchi is engaged in the testing and overhauling of marine propulsion engines and assembly of semi-knocked down units of diesel engines.

Promoters of Garden Reach Shipbuilders - The President Of India
Garden Reach Shipbuilders IPO details
Subscription Dates 24 September - 1 October 2018 (IPO closing date extended)
Price Band INR114 - 118 per share (retail discount - INR5 per share)
Fresh issue Nil
Offer For Sale 29,210,760 shares (INR333 - 344.69 crore)
Total IPO size 29,210,760 shares (INR333 - 344.69 crore)
Minimum bid (lot size) 120 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
Garden Reach Shipbuilders' financial performance (in INR crore)
FY2013* FY2014* FY2015 FY2016 FY2017 FY2018
Total revenues 1,599.7 1,693.2 1,629.4 1,856.1 1,146.3 1,525.7
Total expenses 1,405.3 1,511.9 1,539.3 1,604.5 1,126.2 1,398.0
Profit after tax 131.8 116.6 45.8 159.6 11.7 94.4
Net margin (%) 8.2 6.9 2.8 8.6 1.0 6.2

* Figures of FY2013 and FY2014 are based on Indian GAAP. Figures for subsequent years are based on Ind AS.

Garden Reach Shipbuilders Contact Details

Garden Reach Shipbuilders Limited 
43/46 Garden Reach Road
Kolkata – 700 024

Phone: +91 033 2469 8545
Fax: 
+91 033 2469 8150
Email:
co.sec@grse.co.in
Website: www.grse.in

Registrar of Garden Reach Shipbuilders IPO

Alankit Assignments Limited
205-208, Anarkali Complex,
Jhandewalan Extension
New Delhi - 110 055

Phone: +91 11 4254 1234
Fax: +91 11 4154 3474
Email: info@alankit.com
Website: www.alankit.com

Valuation of Garden Reach Shipbuilders (FY2018)

Earnings Per Share (EPS): INR7.14

Price/Earnings (P/E) ratio: 16.10 - 16.52

Return on Net Worth (RONW): 8.54%

Net Asset Value (NAV): INR88.69 per share

Garden Reach Shipbuilders IPO Subscription Details
Category

Shares offered

Subscription (no. of times)
Day 1 Day 2 Day 3 Day 4 Day 5

Day 6

QIB

14,319,000

0.00 0.00 1.22 1.22 1.81

1.81

NII

4,295,700

0.00 0.00 0.01 0.30 0.30

0.31

Retail

10,023,300

0.04 0.09 0.22 0.22 0.22

0.24

Employees

572,760

0.00 0.02 0.12 0.13 0.13

0.14

Total

29,210,760

0.01 0.03 0.67 0.72 1.01 

1.02 

Garden Reach Shipbuilders IPO Allotment Status

Garden Reach Shipbuilders IPO allotment status is now available on Alankit Assignments' website. Click on this link to get allotment status.

Listing Performance of Garden Reach Shipbuilders

IPO Opening Date: 24 September 2018

IPO Closing Date: 1 October 2018 (IPO closing date extended)

Listing Date: 10 October 2018

Listing Price on NSE: INR102.5 per share (down 13.14% from IPO price)

Closing Price on NSE: INR103.3 per share (down 12.46% from IPO price)

Garden Reach Shipbuilders IPO
4.2 (83.64%) 11 votes

4 thoughts on “Garden Reach Shipbuilders IPO

  • October 9, 2018 at 10:30 AM
    Permalink

    Let me know listing date of garden reach ship builders

    Reply
  • September 23, 2018 at 6:22 PM
    Permalink

    Defense IPOs have never made money. I’m convinced after looking at the performance of HAL, Bahrat dynamics. and Garden reach is not even in the same category as HAL!

    Reply
    • September 24, 2018 at 10:18 AM
      Permalink

      Correct sir. By the way, HAL is no exceptional company. There have been so many delays in key projects. Just ask any insider and you will come to know that it has been reduced to just a PSU now. Now it is mere shadow of its glorious past.

      I read in the review that it is expensive than Cochin shipyard although margins are less. Margins should be higher in defense, don’t know why Garden Reach has such poor margins.

      Reply
  • September 6, 2018 at 1:52 PM
    Permalink

    IRCON IPO
    Issue open 17-19 September 2018
    Price Band 470-475
    Lot Size 30 shares
    Retail Discount – 10 RS

    Reply

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