The Ganesh Infraworld IPO has drawn much attention as the subscription rate has touched more than 21 times on the second day of bidding. The demand is coming from retail investors as the IPO is still open for public bidding till December 3. Let’s get closer to the Ganesh Infraworld IPO and understand why it is drawing so much interest.
Ganesh Infraworld IPO: All Details
- IPO Dates: November 29 to December 3, 2024
- Price Band: ₹78 to ₹83 per share
- Face Value: ₹5 per share
- Lot Size: Minimum bid for 1,600 shares
- Total Issue Size: ₹98.58 crore (entirely fresh equity issue)
- Book-Running Lead Manager: Vivro Financial Services Private Limited
- Registrar: Link Intime India Private Limited
The proceeds from the issue will be used to meet long-term working capital requirements as well as for general corporate purposes.
Ganesh Infraworld IPO Subscription Status
Until the second day, the Ganesh Infraworld IPO has received subscription of 21.53 times:
- Retail Portion 33.02 times
- Non-Institutional Investors (NII) 18.72 times
- Qualified Institutional Buyers (QIB) 3.51 times
As per Chittorgarh.com data, total bids were at 16.11 crore shares vs 74.86 lakh shares that were issued.
Ganesh Infraworld IPO GMP
Ganes Infraworld IPO goes super in grey market. The current Grey Market Premium (GMP) for the same is at ₹50, and thus listing prices are likely to be ₹133 per share. That is 60 percent of the upper price band, where it is offering ₹83 in the IPO.
Company Overview
Ganesh Infraworld Limited is incorporated in 2017. This infrastructure and construction company operates primarily on civil and electrical infrastructure projects, road and rail development, and water infrastructure projects. The company provides end-to-end EPC services (engineering, procurement, and construction). The diversified project portfolio of the company falls within the industrial, residential, commercial, and civil sectors within Rajasthan, Maharashtra, Odisha, and Jammu & Kashmir.
Some of its significant customers include Magnum Ventures Limited, Raikela Iron Ore Mines, and Jain International Power Limited. Till August 31, 2024, the order book stood at ₹574.9 crore with 41 ongoing projects.
Financial Growth and Future Plans
Ganesh Infraworld has been quite spectacular on the financial front, which shall give it credibility to the investors. Also, it would spend ₹70 crore out of IPO proceeds for working capital; ₹40 crore shall be spent for the current fiscal and ₹30 crore for next year.
Invest in Ganesh Infraworld IPO or Not?
The strong demand from the retail investors and grey market premium is clearly showing that there is much interest in the Ganesh Infraworld IPO. The company’s robust order book and presence in critical infrastructure projects make it an attractive proposition for long-term investors.
But then, like every investment, one must consider his financial goals and talk to a financial advisor before taking the call.
Disclaimer
This article is for information only and not financial advice. News Eager insists that readers carry out their own research or consult a financial advisor before investing. Investments always carry market risks-invest wisely.
