Ganesh Infraworld IPO Lists at ₹157.70, Hits Upper Circuit with 90% Premium

Ganesh Infraworld share price had an impressive debut on the NSE SME on December 5, 2024. The stock is listed at ₹157.70 per share is a 90% premium over the IPO price of ₹83. Within just five minutes of listing, the stock hit the upper circuit limit.

Stock Surge and Trading Halt

After listing, the stock gained an additional 4.98%, reaching ₹165.55 per share, marking a total increase of 99.45% from the issue price. This surge led to a trading halt after approximately 0.13 million shares, worth ₹21.84 crore, were traded. It’s worth noting that the Securities and Exchange Board of India (SEBI) caps the listing gains for SME stocks at 90% above the issue price.

IPO Details and Oversubscription

The IPO, which concluded its subscription period on December 3, 2024, received massive interest from investors, being oversubscribed by 369 times. The offering, totalling ₹98.58 crore, consisted of 11,876,800 new shares priced between ₹78 and ₹83 per share, with a minimum lot size of 1,600 shares. The IPO’s basis of allotment was finalised on December 4, 2024.

Funds Raised from Anchor Investors

Ganesh Infraworld raised ₹26.59 crore from anchor investors through bidding that ended on November 28, 2024. The registrar for the IPO is Link Intime India, and Vivro Financial Services is the book-running lead manager.

Use of IPO Proceeds

The company plans to use the net proceeds from the IPO to fund its long-term working capital needs and for general corporate purposes.

About Ganesh Infraworld

Ganesh Infraworld is a construction company offering a wide range of EPC services across India. The company specialises in industrial, civil, residential, and commercial construction and is also involved in infrastructure projects like roads, railways, power, and water distribution systems.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.