Ganesh Infraworld IPO led by retail investors has been booked over 21 times so far on the second bidding day; GMP, check other details

Ganesh Infraworld IPO: The IPO subscription period for Ganesh Infraworld started on Friday, November 29 and will end on Tuesday, December 3. The per share price band range has been set for Ganesh Infraworld IPO. from 78 83, with face value 5. There are multiple shares available, and the minimum bid amount is for 1,600 shares.

Established in 2017, Ganesh Infraworld Limited has established itself as a dynamic construction company providing a wide range of construction services. The company excels in constructing significant projects in roads, railways, power and water distribution as well as industrial, civil, residential and commercial structures across India. Its major business segments are dedicated to civil and electrical infrastructure projects, road and rail infrastructure development, and water infrastructure development projects, enabling the company to contribute effectively to the country’s growth and infrastructure advancement.

The company provides comprehensive EPC (engineering, procurement and construction) services, including planning, design, execution and material supply for civil, electrical, mechanical and industrial projects.

Ganesh Infraworld serves many notable clients, including Magnum Ventures Limited, Raikela Iron Ore Mines, JD Cables Pvt Ltd, Celica Motocorp Pvt Ltd, Jain International Power Ltd and Nirmala Developers.

The company operates in several states across India, including Rajasthan, Uttar Pradesh, Maharashtra, Odisha, Haryana, Jharkhand, Bihar, Jammu and Kashmir, Andhra Pradesh, and Chhattisgarh.

As per the Red Herring Prospectus (RHP), the company’s listed counterparts are capacity infrastructure Ltd. (with P/E of 21.87), Chavda Infra Ltd. (with P/E of 17.45), AVP Infracom Ltd. (with a P/E of 24.73), and PSP Projects Ltd. (with a P/E of 18.08).

Between the financial year ending March 31, 2024 and the financial year ending March 31, 2023, Ganesh Infraworld Limited’s revenue grew by 116% and profit after tax (PAT) increased by 198%.

Ganesh Infraworld IPO Subscription Status

The subscription position of Ganesh Infraworld IPO is 21.53 times so far on the second day. The retail portion was subscribed 33.02 times and the NII portion was booked 18.72 times. The QIB portion has been subscribed 3.51 times.

The company received bids for 16,11,47,200 shares against 74,86,400 shares on offer at 16:28 IST, according to data from Chittorgarh.com.

The subscription position of Ganesh Infraworld IPO was 1.50 times on the first day.

Ganesh Infraworld IPO Details

Ganesh Infraworld’s IPO is meaningful ₹98.58 crore and involves a fresh issue of 1,18,76,800 equity shares with face value 5. There is no offer for sale component.

The business plans to use the gross proceeds raised through the offering to meet long-term working capital requirements and for general corporate purposes.

The book running lead manager of the Ganesh Infraworld IPO is Vivaro Financial Services Pvt Ltd, and the registrar to the issue is Link Intime India Pvt Ltd. Rikhav Securities is the market maker for Ganesh Infraworld IPO.

ganesh infraworld ipo gmp today

Ganesh Infraworld IPO GMP is +50 today. This shows that the share price of Ganesh Infraworld was trading at a premium 50 in the gray market, according to InvestorGain.com.

Considering the upper end of the IPO price band and the existing premium in the gray market, the estimated listing price of Ganesh Infraworld share price is indicated 133 per share, which is 60.24% higher than the IPO price 83.

‘Gray market premium’ reflects investors’ willingness to pay more than the issue price.’

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