GRSE IPO
GRSE IPO — date, price band, lot size & details 2018
GRSE listed on 10 Oct 2018 at ₹102.5, 13.1% below the ₹118 issue price.
Garden Reach Shipbuilders & Engineers (GRSE) is a Mini Ratna defence shipyard under the Ministry of Defence building ships for the Indian Navy and Coast Guard. Its total income was Rs 1,525.75 crore in FY2018.
Stock price
GRSE is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 24 Sep 2018
- Close 01 Oct 2018
- Allotment 01 Oct 2018
- Refund/credit 03 Oct 2018
- Listing 10 Oct 2018
Issue summary
The terms of the offer, as filed.
| IPO Dates | 24 Sep to 1 Oct, 2018 |
|---|---|
| Price Band | ₹114 – ₹118 |
| Face Value | ₹10 |
| Lot Size | 120 Shares |
| Issue Size | ₹343.59 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 5.00 per share |
| Registrar | Alankit Assignments Limited |
| Min Investment | ₹ 14,160 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 120 shares at the ₹118 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 120 | ₹14,160 |
| Retail (max) | 14 | 1,680 | ₹1,98,240 |
| S-HNI (min) | 15 | 1,800 | ₹2,12,400 |
| S-HNI (max) | 70 | 8,400 | ₹9,91,200 |
| B-HNI (min) | 71 | 8,520 | ₹10,05,360 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Profit after tax rose from Rs 11.47 crore in FY2017 to Rs 86.81 crore in FY2018.
- 02Total income rose from Rs 1,146.31 crore in FY2017 to Rs 1,525.75 crore in FY2018.
- 03It has built ships since 1913 and is a Mini Ratna Category I company.
- 04Net worth was Rs 1,015.94 crore in FY2018, with little borrowing.
Risks · 5
- 01Total income fell from Rs 1,856.06 crore in FY2016 to Rs 1,146.31 crore in FY2017.
- 02Profit after tax fell from Rs 164.45 crore in FY2016 to Rs 11.47 crore in FY2017, so earnings are very uneven.
- 03Its orders come mostly from the Navy and Coast Guard, so defence budgets drive its business; total assets were Rs 4,260.23 crore.
- 04The whole Rs 343.59 crore issue was an offer for sale, so none of it went to the company.
- 05The government held 100% before the issue and 74.5% after it, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the GRSE offer document.
| Metric | 31 Mar 2018 | 31 Mar 2017 | 31 Mar 2016 |
|---|---|---|---|
| Assets | 4,260.23 | 4,566.64 | 4,453.89 |
| Total Income | 1,525.75 | 1,146.31 | 1,856.06 |
| Profit After Tax | 86.81 | 11.47 | 164.45 |
| EBITDA | 164.40 | 55.89 | 283.74 |
| NET Worth | 1,015.94 | 1,083.14 | 1,136.66 |
| Reserves and Surplus | 901.39 | 959.30 | 1,012.82 |
| Total Borrowing | 25.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the GRSE IPO will be updated shortly.
About the company
It mainly builds ships for the Indian Navy and the Indian Coast Guard.
It also works in engineering and engine production, making deck machinery and other products.
The IPO was Rs 343.59 crore and was entirely an offer for sale by the Government of India at Rs 118, the top of the Rs 114 to Rs 118 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
GRSE IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
IDBI Capital Markets & Securities Ltd.
42 issues handledBest listing: Route Mobile (+104.9%). Weakest: Bharat Dynamics (-13.6%).
YES Securities (India) Ltd
20 issues handledBest listing: IRCTC (+95.6%). Weakest: Bharat Dynamics (-13.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of GRSE?
The current Grey Market Premium is ₹0.
What is the GRSE IPO price band?
₹114 to ₹118, on a face value of ₹10.
When is the allotment?
The basis of allotment is 1 October 2018, with listing on 10 October 2018.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Alankit Assignments Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
