NSE SME Ganesh Infraworld makes a robust debut

The scrip was listed at Rs 157.70, a premium of 90% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% compared to its listing price.

The counter hit a high of Rs 165.55 and a low of Rs 157.70. About 29.60 lakh shares of the company changed hands at the counter.

Ganesh Infraworld's IPO was subscribed 326.15 times. The issue opened for bidding on 29 November 2024 and it closed on 3 December 2024. The price band of the IPO was set at Rs 78 to Rs 83 per share.

The IPO comprised fresh issue of 86,73,600 equity shares. The company intends to utilize the net proceeds to meet long-term working capital requirements and general corporate purposes.

Ahead of the Ganesh Infraworld on 28 November 2024, raised Rs 26.58 crore from anchor investors. The board allotted 32.03 lakh shares at Rs 83 per share to 14 anchor investors.

Ganesh Infraworld is a construction company specializing in EPC services for various sectors like industrial, residential, commercial, roads, railways, power, and water infrastructure. The company operates through three main verticals: civil and electrical infrastructure, road and rail infrastructure, and water infrastructure. As of 31 August 2024, the company had 42 permanent employees.

The company recorded revenue from operations of Rs 210.65 crore and net profit of Rs 15.37 crore for the period as of 31 August 2024.