As the Ganesh Infraworld IPO approaches its closing date for subscription today, the grey market premium (GMP) has shown promising signs, currently standing at ₹68. This suggests an estimated listing price of ₹151 per share, indicating strong potential for listing gains.
IPO Overview
Subscription Status
The Ganesh Infraworld IPO, which opened for subscription on November 29, 2024, is set to close today, December 3, 2024. The issue has received significant interest from investors, with a subscription rate of over 23 times reported by the second day of bidding. The breakdown of subscriptions shows robust participation across different investor categories:
- Retail Investors: 35.86 times
- Non-Institutional Investors (NIIs): 20.72 times
- Qualified Institutional Buyers (QIBs): 3.51 times
Price Band and Lot Size
The price band for the IPO has been fixed between ₹78 and ₹83 per share, with a minimum lot size of 1,600 shares. This means that retail investors need to invest a minimum of ₹132,800 to participate in the offering.
Current Grey Market Premium (GMP)
The current GMP for Ganesh Infraworld is at ₹68, reflecting a strong demand for the shares in the grey market. This premium indicates that investors are willing to pay more than the issue price, suggesting optimism about the stock’s performance post-listing.
- Current GMP: ₹68
- Estimated Listing Price: ₹151
Company Profile
Ganesh Infraworld is a construction company that provides a wide range of services in the infrastructure sector. With a diverse portfolio that includes road, rail, water supply systems, and power generation projects, the company has established a solid presence in various states across India.
Financial Performance
For FY2024, Ganesh Infraworld reported a revenue increase of 116%, with profits rising by 198% compared to the previous fiscal year. This impressive growth underscores the company’s operational efficiency and expanding market presence.
Analyst Recommendations
Arihant Capital Markets has issued a ‘Subscribe’ rating for the Ganesh Infraworld IPO, citing the company’s robust order book of 41 projects and its strategic focus on effective working capital management. Analysts believe that this positions Ganesh Infraworld well for sustainable growth in the infrastructure sector.
Important Dates
- IPO Subscription Closing Date: December 3, 2024
- Allotment Date: December 4, 2024
- Tentative Listing Date: December 6, 2024
Conclusion
With strong subscription numbers and a positive grey market premium, the Ganesh Infraworld IPO appears poised for a favorable listing. Investors should keep an eye on this IPO as it closes for subscription today and prepares for its debut on the NSE SME platform.
Disclaimer: This article is for informational purposes only and does not constitute financial advice or recommendations regarding stock purchases. Readers should conduct their own research or consult with financial advisors before making investment decisions related to any stocks mentioned herein.
