Ganesh Infraworld IPO booked 201.11x on third bidding day so far led by NIIs, retail investors; check GMP, other details
- Ganesh Infraworld IPO, priced between ₹78 and ₹83, is open until December 3. With a focus on infrastructure projects across India, the company has reported impressive financial growth. As of day 3, the IPO subscription status is 201.11 times, with strong demand from NIIs, retail investors.
Ganesh Infraworld IPO: The IPO subscription period for Ganesh Infraworld started on Friday, November 29, and will end on Tuesday, December 3. The price band per share for the Ganesh Infraworld IPO is set in the range of ₹78 to ₹83, with a face value of ₹5. There are multiple shares available, and the minimum bid amount is for 1,600 shares.
Founded in 2017, Ganesh Infraworld Limited has established itself as a dynamic construction company that delivers a comprehensive array of construction services. The company excels in building industrial, civil, residential, and commercial structures, alongside undertaking vital projects in road, railway, power, and water distribution across India. Its key 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 nation’s growth and infrastructure advancement.
The company offers comprehensive EPC (Engineering, Procurement, and Construction) services, which include planning, design, execution, and material supply for civil, electrical, mechanical, and industrial projects.
Ganesh Infraworld serves several notable clients, including Magnum Ventures Limited, Raikela Iron Ore Mines, JD Cables Private Limited, Celica Motocorp Private Limited, Jain International Power Limited, and Nirmala Developers.
The company operates in multiple states across India, including Rajasthan, Uttar Pradesh, Maharashtra, Odisha, Haryana, Jharkhand, Bihar, Jammu & Kashmir, Andhra Pradesh, and Chhattisgarh.
As per the red herring prospectus (RHP), the company's listed peers are Capacit'e Infrastructure Ltd (with a P/E of 21.87), Chavda Infra Ltd (with a 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 fiscal year that ended on March 31, 2024, and the fiscal year that ended on March 31, 2023, Ganesh Infraworld Limited's revenue grew by 116% and its profit after tax (PAT) increased by 198%.
Ganesh Infraworld IPO Subscription Status
Ganesh Infraworld IPO subscription status is 201.11 times, on day 3, so far. The retail portion was subscribed 186.95 times, and NII portion was booked 392.86 times. QIB portion is subscribed 81.95 times.
The company has received bids for 1,50,55,82,400 shares against 74,86,400 shares on offer, at 14:17 IST, according to data on chittorgarh.com
Ganesh Infraworld IPO subscription status was 1.50 times, on day 1, and the issue was booked 23.87 times on the second day.
Ganesh Infraworld IPO details
Ganesh Infraworld IPO is worth ₹98.58 crore and comprises a fresh issue of 1,18,76,800 equity shares with a face value of ₹5. There's no offer for sale component.
In order to meet long-term working capital requirements and for general corporate purposes, the business plans to use the gross proceeds raised through the offering.
The Ganesh Infraworld IPO's book running lead manager is Vivro Financial Services Private Limited, and the issue's registrar is Link Intime India Private Limited. Rikhav Securities is the market maker for the Ganesh Infraworld IPO.
Ganesh Infraworld IPO GMP today
Ganesh Infraworld IPO GMP today is +73. This indicates Ganesh Infraworld share price was trading at a premium of ₹73 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ganesh Infraworld share price is indicated at ₹156 apiece, which is 87.95% higher than the IPO price of ₹83.
Based on the grey market activities from the last 13 sessions, today's IPO grey market premium (GMP) is trending upward, indicating a strong listing expectation. The lowest GMP recorded is ₹9, while the highest is ₹73, according to experts at investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.'
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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