Ganesh Infraworld Limited IPO Day 2 Live Updates: Key Highlights, Subscription Status, and Insights

Ganesh Infraworld IPO Day 1 Subscription Status 

(November 29, 2024, End of Day)

On the first day of bidding, the Ganesh Infraworld IPO was subscribed 1.50 times the total shares available. 

• The Non-Institutional Investors (NIIs) segment recorded a subscription of 1.25 times its allotted quota. 
• The Retail Investors category subscribed 2.47 times its allocation. 
• The Qualified Institutional Buyers (QIBs) segment saw no subscriptions, with 0.00 times its share taken up.

Ganesh Infraworld IPO Details

• The Ganesh Infraworld IPO consists of 11,876,800 equity shares, aggregating up to ₹98.58 crores. The company has set a price band of Rs 78-83 per share for this initial public offering.
• The lot size is 1600 shares, and the minimum investment required by retail investors is ₹132,800. 
• The shares are proposed to be listed on the NSE SME.
• The IPO opened for subscription on November 29 and will close on December 3. Allotment for the Ganesh Infraworld IPO is expected to be finalized on Wednesday, December 4, 2024. The tentative listing date is Friday, December 6, 2024.
• Vivro Financial Services Private Limited is the book running lead manager for the IPO. Link Intime India Private Ltd is the registrar of the issue. Rikhav Securities is the market maker for the IPO.

Investor Category Shares Offered

Utilization of IPO Proceeds

Ganesh Infraworld plans to allocate Rs 70 crore from the net proceeds to meet long-term working capital requirements. This includes Rs 40 crore for FY 2024-25 and Rs 30 crore for FY 2025-26. The remaining funds will be used for general corporate purposes.

Ganesh Infraworld Overview

The company is a construction firm providing comprehensive services across sectors in India, including industrial civil works, residential and commercial buildings, roads, railways, power projects, and water systems. Specializing in integrated engineering, procurement, and construction (EPC), it manages all aspects of project planning, design, and execution, covering mechanical, electrical, civil, and industrial services while ensuring material procurement. Its operations are structured into three core verticals—Civil and Electrical Infrastructure, Road and Rail Infrastructure Development, and Water Infrastructure Development—all unified under a single segment dedicated to engineering and construction.

Financials

• Reported revenue of Rs 239 crore in FY24, a 79.70% year-on-year gain from Rs 133 crore in the previous fiscal year.
• The company’s profit after tax also increased by 120% to Rs 11 crore in FY24 from Rs 5 crore in FY23.

Key Ratios

Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.