Garuda Construction and Engineering Limited — Others, 15-05-2025: Monitoring Agency Report

Garuda Construction and Engineering Limited has announced a Monitoring Agency Report confirming the disciplined utilization of INR 159.67 Cr raised through its IPO. The company has deployed INR 131.57 Cr mainly for working capital and corporate purposes, while INR 28.10 Cr remains in fixed deposits earning 7.9% interest. There were no deviations or delays in fund usage, ensuring resources are aligned with the company’s growth strategy, supporting operational stability and protecting shareholder value.