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Unlisted shares of Ganesh Infraworld Ltd were trading at Rs 133 apiece in the grey market on Monday, which was a huge Rs 50 or 60.24 per cent above the issue price of Rs 226 per share.
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Ganesh Infraworld IPO: The initial public offering of Ganesh Infraworld Ltd, which was opened on November 29, has received over 21 times subscription so far. Till 4:30 pm on the second day of bidding on Monday, the Rs 99.07-crore SME IPO received a 21.58 times subscription garnering bids for 16,15,48,800 shares as compared with the 74,86,400 shares on offer.
The IPO will be closed on December 3. Its price band has been fixed in the range of Rs 78 to Rs 83 apiece.
So far, the retail investors’ category received a 33.10 times subscription, while the non-institutional investors (NII) portion got subscribed by 18.78 times. The QIB category received a 3.51 times subscription.
Ganesh Infraworld IPO GMP Today
According to market observers, unlisted shares of Ganesh Infraworld Ltd were trading at Rs 133 apiece in the grey market on Monday, which was a huge Rs 50 or 60.24 per cent above the issue price of Rs 226 per share. The huge 60.24% GMP indicates a stellar listing of the IPO.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Ganesh Infraworld IPO: More Details
The Ganesh Infraworld IPO is entirely a fresh issue of 118.77 lakh shares.
Ganesh Infraworld IPO bidding opened for subscription on November 29, 2024 and will close on December 3, 2024. The allotment for the Ganesh Infraworld IPO is expected to be finalised on Wednesday, December 4, 2024. Ganesh Infraworld IPO will list on NSE SME with tentative listing date fixed as Friday, December 6, 2024.
The price band of the Ganesh Infraworld IPO has been fixed at Rs 78 to Rs 83 per share. The minimum lot size for an application is 1,600 shares. The minimum amount of investment required by retail investors is Rs 1,32,800. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs 2,65,600.
Ganesh Infraworld Limited’s revenue increased 116 per cent and profit after tax (PAT) rose 198 per cent in the financial year 2023-24.
Vivro Financial Services Private Limited is the book running lead manager of the Ganesh Infraworld IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Ganesh Infraworld IPO is Rikhav Securities.
Ganesh Infraworld Limited, which was founded in 2017, is a construction company offering a wide range of construction-related services.
