Ganesh Infraworld Limited IPO: Allotment, Subscription Status, and Key Insights.
Ganesh Infraworld Limited, a prominent construction and related services provider headquartered in West Bengal, launched its initial public offering (IPO) on November 29, 2024. The IPO allotment is expected to be finalized on December 4, 2024. Once the allotment process is completed, investors can easily check the status of their IPO applications online on the websites of the registrar, Link Intime India, or the NSE website. Below is a detailed guide on how to check the allotment status and key details about the company and the IPO.
How to Check the IPO Allotment Status?
On the NSE Website:
- Visit the IPO allotment status check page on the NSE website.
- Log in using your username and password. New users must first register on the NSE platform to access IPO allotment status.
- Select “Ganesh Infraworld Limited” from the dropdown menu that will appear once the allotment process is complete.
- Enter your PAN number.
- Provide the IPO application number.
- Click on “Get Data” to view your allotment status.
On the Link Intime India Website:
- Visit the IPO allotment status page on the Link Intime India website.
- From the dropdown menu, select “Ganesh Infraworld Limited” (this will appear once the allocation process is finished).
- Choose one of the following methods to proceed: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Enter the necessary details based on your selection.
- Click on “Submit” to view your allotment status.
Ganesh Infraworld Limited: Company Overview
Ganesh Infraworld Limited is one of India’s leading construction firms, specializing in providing comprehensive services across various infrastructure sectors. These include industrial civil projects, residential and commercial buildings, road and railway construction, power infrastructure, and water systems. The company operates with expertise in integrated engineering, procurement, and construction (EPC), handling all stages of project execution—from planning and design to implementation. This includes mechanical, electrical, civil, and industrial services, along with material procurement.
The company’s operations are organized into three main divisions:
- Civil and Electrical Infrastructure – This division focuses on delivering infrastructure projects involving civil works and electrical systems.
- Road and Rail Infrastructure Development – Ganesh Infraworld specializes in the construction of roads and rail infrastructure to cater to India’s growing transport needs.
- Water Infrastructure Development – The company is also involved in water-related projects such as water treatment plants, irrigation systems, and more.
Each division operates under a unified goal of engineering excellence, contributing significantly to the infrastructure development of the country.
Ganesh Infraworld IPO Subscription Status
As of the third day of bidding (December 3, 2024), the Ganesh Infraworld IPO experienced an overwhelming response, with the total subscription standing at 369.56 times the total number of shares available for allotment. The breakdown of the subscription is as follows:
- Non-Institutional Investors (NIIs) showed significant demand, subscribing 865.82 times their allotted share.
- Retail Investors also responded enthusiastically, with their subscription reaching 274.48 times their allocated portion.
- Qualified Institutional Buyers (QIBs), though participating in the IPO, recorded a subscription rate of 163.52 times.
This massive oversubscription indicates strong investor confidence in Ganesh Infraworld’s business model and growth prospects.
Ganesh Infraworld IPO Details
The Ganesh Infraworld IPO consists of 11,876,800 equity shares, which aggregate up to ₹98.58 crores. The price band for the IPO has been set at ₹78-83 per share. The minimum lot size is 1600 shares, and the minimum investment required for retail investors is ₹132,800.
- IPO Size: ₹98.58 crores
- Price Band: ₹78-83 per share
- Lot Size: 1600 shares
- Minimum Investment: ₹132,800
- Listing Venue: The shares are expected to be listed on the NSE SME platform.
- IPO Subscription Dates: The IPO opened for subscription on November 29, 2024, and closed on December 3, 2024.
- Allotment Date: The IPO allotment is expected to be finalized on December 4, 2024.
- Listing Date: The tentative listing date is December 6, 2024.
Utilization of IPO Proceeds
Ganesh Infraworld has outlined a clear plan for the utilization of the net proceeds from this IPO. The company intends to allocate ₹70 crore to meet its long-term working capital requirements:
- ₹40 crore for the financial year 2024-25.
- ₹30 crore for the financial year 2025-26.
The remaining funds will be used for general corporate purposes, supporting the company’s ongoing and future projects.
Grey Market Premium and Expected Listing Gains
The Ganesh Infraworld IPO has generated considerable excitement, as evidenced by the massive subscription rate and the strong grey market premium (GMP) leading up to the allotment. The latest grey market premium suggests a 94% premium on the listing price, signaling positive expectations from investors.
As of December 4, 2024, the grey market premium (GMP) is at ₹78. With a cap price of ₹83, the estimated listing price for Ganesh Infraworld shares is expected to be around ₹161. This indicates an expected 93.98% gain on the listing price for investors who receive allotment.
Conclusion
Ganesh Infraworld Limited’s IPO has been met with an overwhelmingly positive response from investors across all segments. The company’s solid track record in construction and infrastructure development, combined with the strong subscription numbers and expected premium listing, suggests that the company is poised for growth in the Indian infrastructure sector. Investors can check their IPO allotment status online on the NSE or Link Intime India websites and anticipate a strong debut on the stock exchange on December 6, 2024.
Note: Investors are advised to consult with their financial advisors and consider the risks involved before making investment decisions.
Previous Article :