Ganesh Infraworld IPO Fully Subscribed On Day 1; Check GMP And Key IPO Details
The latest grey market premium (GMP) for the Ganesh Infraworld IPO stood at Rs 35, as of 5:56 p.m. on Nov. 29.
The initial public offer (IPO) of Ganesh Infraworld Ltd. opened on Friday and was fully subscribed on Day 1 led by demand from retail investors. The Ganesh Infraworld IPO consists entirely of a fresh issue of nearly 1.19 lakh shares. The company aims to raise Rs 98.58 crore via its public offer.
Here are the key details about the NSE SME IPO.
Ganesh Infraworld IPO: Offer Size, Price Band And Other Details
Ganesh Infraworld IPO price band has been set between Rs 78 and Rs 83 per share. The retail investors participating in the Ganesh Infraworld IPO can place bids for at least a single lot size, or 1,600 shares. The minimum investment amount for the retail investors is Rs 1,32,800.
On the other hand, High Net Worth Individuals (HNIs) are required to apply for a minimum of two lots, or 3,200 shares, aggregating to an investment of Rs 2,65,600.
Link Intime India Pvt. is the registrar for the Ganesh Infraworld IPO. On the other hand, Vivro Financial Services Pvt. is the book-running lead manager of the issue and Rikhav Securities is its market maker.
Ganesh Infraworld IPO subscription window will remain open till Dec. 3. The IPO allotment status is expected to be finalised by Wednesday, Dec. 4. The company will initiate refunds on Dec. 5, while the successful bidders will also receive shares in their Demat accounts the same day.
Shares of Ganesh Infraworld IPO will be listed on the NSE SME, Emerge, with the tentative listing date fixed as Dec. 6.
Ganesh Infraworld IPO Day 1 Subscription Status
The IPO was subscribed 1.50 times on Friday
Qualified Institutions: NIL
Non-Institutional Buyers: 1.25 times
Retail Investors: 2.47 times
Ganesh Infraworld IPO GMP Today
The latest grey market premium (GMP) for the Ganesh Infraworld IPO stood at Rs 35, as of 5:56 p.m. on Nov. 29. Considering the upper end of the IPO price band of Rs 83, this suggests an estimated listing price of Rs 118 per share, as per Investorgain. The latest GMP indicates a potential listing gain of 42.17%.
Note: GMP is not an official price quote for the stock and is based on speculation.
Ganesh Infraworld IPO Use Of Proceeds
Ganesh Infraworld Ltd. proposes to use the proceeds from the IPO to meet long-term working capital requirements. The funds will also be used for general corporate purposes.
Ganesh Infraworld Ltd. Business And Financials
Founded in 2017, Ganesh Infraworld Ltd. is a construction company. The company specialises in the development of industrial, civil, residential, and commercial buildings, along with road, railway, power and water distribution projects across India.
As of August 31, 2024, the company had 41 active projects with a combined value of around Rs 57,485.53 lakh, spread across 13 states.
For the five-month period ended August 31, 2024, in the current financial year, the company’s revenue from operations stood at Rs 212.33 crore, while the net profit was Rs 15.37 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
