Garuda Construction IPO receives 7.55 times subscription on final day of offer

Garuda Construction and Engineering’s IPO was oversubscribed 7.55 times, attracting bids for over 15 crore shares against 1.99 crore on offer. The company is raising Rs 264 crore with a price band of Rs 92-95 per share, earmarking Rs 100 crore for working capital and the rest for corporate purposes.