Tue Dec 03 08:18:27 UTC 2024: ## Ganesh Infraworld IPO Oversubscribed on Day 2
**MUMBAI, December 3, 2024** – The initial public offering (IPO) of Ganesh Infraworld Ltd. continues to attract strong investor interest. On the second day of bidding, the SME issue was oversubscribed by 14.93 times, with 1,294,57,600 bids received against 86,73,600 shares on offer. Retail investors, non-institutional investors (NIIs), and qualified institutional buyers (QIBs) showed significant participation.
The IPO, which opened on November 29th and closes today, aims to raise ₹98.58 crore. The price band is fixed between ₹78 and ₹83 per share, with a minimum investment of ₹1,32,800 for retail investors.
Grey market premiums indicate strong investor sentiment, with unlisted shares trading at a premium of 60.24% (₹133) against the upper price band of ₹83. This exceeds the previously expected listing pop of 42.17%. The stock is expected to list on the NSE’s SME platform, Emerge, on December 6th.
Ganesh Infraworld, a construction company with 41 projects in its order book, boasts a diverse portfolio spanning road, rail, water, electricity, and civil infrastructure. The company highlights its strong working capital management and plans to utilize IPO proceeds for long-term growth. Arihant Capital Markets has recommended a “Subscribe” rating for the IPO.
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