Tue Dec 03 07:52:35 UTC 2024: ## Ganesh Infraworld IPO Oversubscribed 23 Times
**Mumbai, December 2, 2024** – The initial public offering (IPO) of Ganesh Infraworld Ltd. has been massively oversubscribed, receiving bids over 23 times the number of shares offered. By the close of trading on Monday, the ₹99.07 crore SME IPO had garnered bids for 17,33,34,400 shares, significantly exceeding the 74,86,400 shares on offer. The IPO, which opened on November 29th and closes on December 3rd, has a price band of ₹78 to ₹83 per share.
Retail investors showed particularly strong interest, with the category oversubscribed by 35.44 times. Non-institutional investors (NII) also demonstrated significant enthusiasm, subscribing 20.66 times their allocation. The Qualified Institutional Buyer (QIB) portion saw a 3.51 times subscription.
Adding to the positive sentiment, grey market premiums (GMP) for unlisted shares of Ganesh Infraworld are reportedly trading at ₹133, a substantial premium over the issue price. This high GMP suggests a strong expectation of a successful listing.
The IPO consists entirely of a fresh issue of 118.77 lakh shares. Allotment is expected on December 4th, with a tentative listing date on the NSE SME on December 6th. Vivro Financial Services Private Limited is the book running lead manager, Link Intime India Private Ltd. is the registrar, and Rikhav Securities is the market maker.
Ganesh Infraworld, founded in 2017, is a construction company with a broad range of services. The company reported impressive financial growth in FY23-24, with an 116% increase in revenue and a 198% rise in profit after tax. The minimum investment for retail investors is ₹1,32,800 (1,600 shares), while HNIs need to invest a minimum of ₹2,65,600 (3,200 shares).
First Piper 