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.
Promoters of the company :
- Mahesh Shah, is one of promoter of this company.
- Mamta Shah, is a promoter of this company.
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.