Ganesh Infraworld IPO: If you are also betting on IPO then this news is for you. This week, on Friday 29th November, the IPO of another company is opening for investment. Investors can place bets in this issue till December 3. This IPO is of construction and related service provider company Ganesh Infraworld. The company has fixed the price band of Rs 78-83 per share for its IPO. The book-built issue involves a fresh issue of 1.18 crore equity shares by the company, which means the entire proceeds of this IPO (except offer expenses) will go to the company.
what are the details
The West Bengal-based company specializes in engineering, procurement and construction (EPC) services and industrial civil projects, residential and commercial buildings, road, railway infrastructure, power and water distribution. Provides construction and related services for projects. As of August 31, its order book stood at Rs. 574.9 crore, which includes 41 ongoing projects. Of the funds raised from the company’s IPO, Rs. 70 crore, the rest will be spent on general corporate purposes.
Know other information
The IPO will open for anchor investors on November 28. Vivaro Financial Services is acting as the book running lead manager to the issue. The company’s shares are trading at a premium of Rs 14 in the gray market today. This means that the possible listing of the company’s shares can be at Rs 97, which means investors can get a profit of about 17 percent on the first day.
