Garuda Construction board approves 500 Crore rupee QIP fundraise plan

Fund Raising View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+2.8%Reaction day

₹235.00

prior close

₹244.21

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.4%+2.4% vs market

Residential Commercial Projects peers, median of 59sector+0.0%+2.8% vs sector

On the reaction day the stock moved 2.4 pts more than Nifty Microcap 250 and 2.8 pts more than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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15m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

+2.8+0.4+2.4+0.0+2.8

Next day

-3.1+0.0-3.1-0.4-2.6

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15d

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UpDownMarket · Nifty Microcap 250Sector · Residential Commercial Projects peers, median of 59Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Garuda Construction board approved raising up to 500 Crore rupees through a Qualified Institutions Placement (QIP) of equity shares with face value of 5 rupees each, in one or more tranches. The board also approved increasing authorised share capital from 50 Crore rupees to 80 Crore rupees to accommodate the issue. An Extraordinary General Meeting will be held to seek shareholder approval for the fundraise and capital amendment. Pricing will be as permitted under applicable law.

Likely market impact

Potential equity dilution from 500 Crore rupee QIP plan. Shareholder approval needed at upcoming EGM. Short-term price may stay under pressure until pricing.