Ganesh Infraworld IPO Day 1: NSE SME issue fully booked on high retail demand; check details

The SME issue was booked 2.39 times in the retail category. Retail investors applied for over 89.68 lakh shares compared to 37.44 lakh shares reserved for the category. Non-institutional investors (NIIs) applied for over 19.92 lakh shares against 16.04 lakh shares set aside for them. The issue was booked 1.24% in the NIIs’ category.

On the first day, the qualified institutional buyers (QIBs) placed bids for 3,200 shares. The company has reserved as many as 21.37 lakh shares for this category.

Ganesh Infraworld IPO is open for subscription from Friday, November 29, to Tuesday, December 3. Here are the key details about the IPO for investors interested in participating in the bidding process.

Ganesh Infraworld IPO offer size, price band and minimum investment

Ganesh Infraworld IPO is worth ₹98.58 crore and comprises a fresh issuance of 118.77 lakh shares. The IPO price band has been fixed at ₹78 to ₹83 per share.

Retail individual investors can place bids for a minimum of 1,600 shares in a single lot, aggregating to an investment of ₹1,32,800. High-net-worth individuals (HNIs) can apply for a minimum of 2 lots or 3,200 shares, amounting to an investment of ₹2,65,600.

Ganesh Infraworld IPO dates

Ganesh Infraworld IPO allotment is likely to be finalised on Wednesday, December 4.

Refunds will be initiated for unsuccessful bidders on Thursday, December 5 and the successful bidders will also receive shares of Ganesh Infraworld in their Demat accounts the same day as well.

Ganesh Infraworld shares will be listed on the NSE SME platform Emerge. The tentative IPO listing date is December 6.

Ganesh Infraworld IPO registrar

The registrar for Ganesh Infraworld IPO is Link Intime India Private Ltd, and Vivro Financial Services Private Limited is the book-running lead manager for the issue. Rikhav Securities is the market maker for Ganesh Infraworld IPO.

Ganesh Infraworld promoters

Vibhoar Agrawal and Rachita Agrawal are the promoters of Ganesh Infraworld. They held an 81.84% stake in the company prior to the SME issue.

Ganesh Infraworld key financials

Ganesh Infraworld’s revenue for the period ended August 31,2024 stood at ₹212.32 crore, while the company posted a profit-after-tax of ₹15.37 crore. Ganesh Infraworld’s net worth stood at ₹66.17 crore during the same period.

In FY24 Ganesh Infraworld’s revenue surged by over 116% to ₹291.81 crore compared to ₹135.04 crore in FY23. The company’s net profit for the fiscal ended March 31, 2024 increased by more than 198% to ₹15.54 crore compared to ₹5.2 crore in the previous financial year.

The networth of the company increased over 145% to ₹37.2 crore from ₹15.15 crore in the preceding fiscal.

Ganesh Infraworld IPO objective

The company plans to use the money raised via the public issue to meet long-term working capital requirements and for general corporate purposes.

About Ganesh Infraworld Limited

Ganesh Infraworld Ltd. was incorporated in 2017. The company offers construction-related services for industrial, civil, residential, and commercial buildings, as well as road, railway, power, and water distribution projects.