Ganesh Infraworld Ltd is likely to finalise the basis of allotment of its shares on Wednesday. The initial public offering (IPO), which closed yesterday (December 3), saw a massive response from investors.
The Rs 98.58 crore SME issue received an overall subscription of 369.56 times. The price band was fixed between Rs 78 and Rs 83 per share. The minimum lot size for an application was 1,600 shares. And, the minimum amount of investment required by retail investors was Rs 1,32,800.
On the other hand, high-net-worth individuals (HNIs) were required to apply for a minimum of two lots, or 3,200 shares, aggregating to an investment of Rs 2,65,600.
Once the allotment is finalised, investors can check the status on the official websites of NSE and Link Intime India.
Check Ganesh Infraworld IPO allotment status on NSE:
https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
Check Ganesh Infraworld IPO allotment status on Link Intime India:
https://ipo.bigshareonline.com/IPO_Status.html
Vivro Financial Services Private Limited is the book-running lead manager of the issue, while Link Intime India Pvt Ltd is the registrar.
Latest grey market premium (GMP)
In the grey market, unlisted shares of Ganesh Infraworld were last seen trading at a premium of 93.98 per cent (at Rs 161) against an issue price of Rs 83 (upper price band). The stock will be listed on the NSE's SME platform, Emerge and the tentative listing day will be December 6.
"The company has 41 projects in its order book as of August 24, covering road, rail, water, electricity, and civil infrastructure. This ensures sustainable growth and solid income visibility. Its strategic emphasis on effective working capital management and the focused allocation of IPO proceeds for long-term requirements allow the business to expand operations, land bigger contracts, and fortify its position as a leader in the infrastructure industry. At the upper band of Rs 83, the issue is valued at a P/E ratio of 22.81x based on an FY24 EPS of Rs 3.64. And, based on annualised FY25 earnings the issue is valued at a P/E ratio of 9.61," said Arihant Capital Markets.
Ganesh Infraworld is a construction company offering end-to-end EPC services across India. The company specialises in industrial, civil, residential, and commercial building projects, as well as infrastructure developments. Its portfolio includes road, railway, power, and water distribution projects, with operations spanning multiple states.