Giriraj Civil Developers Ltd IPO Review (Price, DRHP)

Giriraj Civil Developers Ltd IPO Review

Giriraj Civil Developers Ltd (GCDL) is engaged in trading activities, wherein they trade construction materials, mainly steel and cement. This company a Mumbai based civil works contracting and engineering company. GCDL has floated their new issue to get listed in the primary markets starting from today. Hence, I have checked their draft red herring prospectus and the issue details to post my Giriraj Civil Developers Ltd IPO Review in this article.

About Giriraj Civil Developers Ltd IPO :

  • IPO Opens on – March 19, 2018.
  • IPO Closes on – March 21, 2018.
  • Face Value – Rs. 10 Per Equity Share.
  • Issue Price – Rs. 100 Per Equity Share.
  • Issue Type – Fixed Price Issue IPO.
  • Market Lot – 1200 Shares.
  • Minimum Order Quantity – 1200 Shares.
  • Issue Size – 900,000 Equity Shares of Rs 10 aggregating up to Rs 9.00 Cr .
  • Listing Exchange – BSE SME Exchange.
  • Draft Prospectus – Click Here.

Objectives of the issue:

  • Repayment of unsecured loans.
  • Expenditure for general corporate purposes.

About The Company –

  • Giriraj Civil Developers Ltd is incorporated in 2005.
  • GCDL is engaged in Railway sector projects where the company undertakes a wide scope of work including construction of foot over-bridges, platform extensions, sick line sheds as well as stabling lines etc.
  • Giriraj Civil Developers Ltd is also engaged in infrastructural projects for government / semi-government bodies like MCGM and MRVC and for various private players.
  • This company’s mainly projects undertaken are in the states of Maharashtra and Gujarat.
  • Giriraj Civil Developers Ltd has 21 ongoing projects.
  • This company also have Joint Ventures (JV) and consortiums with other infrastructure and construction companies.
  • Giriraj Civil Developers Ltd had 34 employees.
  • This is one of the Reputed Govt. Civil Contractor and this company believe in terms of Quality, Reliability, Technical, Expertise and Professional Approach.

Giriraj Civil Developers Ltd

Giriraj Civil Developers Ltd

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Giriraj Civil Developers Ltd

Promoters of the company :

  • Mahesh Shah, is one of promoter of this company.
  • Mamta Shah, is a promoter of this company.

Company Financials:

Giriraj Civil Developers Ltd IPO

Giriraj Civil Developers Ltd IPO Review:

The company has shown a declining trend in profits since FY 2014. The company has earnings per share of just over 6 as per last fnancial year data. The issue is fully priced at issue price of Rs. 100. Hence, our Giriraj Civil Developers Ltd IPO Review has a NEUTRAL view on this issue. However, cash rich investors can think of investing in GCDL only for long term view.

Author: Ankita Chakraborty

Ankita has done her Diploma Engineering in Computer Science & Technology. She is pursuing her degree in Engineering and also well experienced in the equity market and real estate related content writing. She is the one who has developed the technical indicators section of our site.

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