Ganesh Infraworld Limited (GIL), a company specializing in infrastructure and construction projects, is set to launch its IPO on the SME platform of the National Stock Exchange (NSE). The IPO will open for subscription from November 29, 2024, to December 3, 2024. It comprises 11,876,800 equity shares with a face value of ₹5 each, entirely consisting of fresh issue shares. The price band for the IPO is set at ₹78 to ₹83 per share.
Ganesh Infraworld Limited, formerly Ganesh International, is a rapidly growing startup in Eastern India, specializing in serving EPC Giants. The company provides end-to-end solutions for Erection Services in complex projects across Civil & Electrical Infra, Road & Rail Infra, and Water Infra. With a dedicated team and round-the-clock service accessibility, Ganesh Infraworld ensures professional, client-focused project execution. As an employee-owned company, it emphasizes integrity, precision, and timely delivery.
Ganesh Infraworld IPO Highlights
| Parameter | Details |
|---|---|
| IPO Opening Date | November 29, 2024 |
| IPO Closing Date | December 3, 2024 |
| IPO Price Range | ₹78 to ₹83 per share |
| Face Value of Share | ₹5 per share |
| Net Issue Size Offered | 11,876,800 shares amounting up to ₹98.58 crore |
| Fresh Issue | 11,876,800 shares amounting up to ₹98.58 crore |
| Offer For Sale (OFS) | Not applicable (Fresh Issue) |
| Lot Size | 1,600 shares |
| Listing at | NSE SME |
| Issue Type | Book Built Issue IPO |
| Market Maker Portion | 1,187,200 shares |
What is GMP of Ganesh Infraworld IPO Today?
As of December 02, 2024, the Grey Market Premium (GMP) for the Ganesh Infraworld IPO is ₹68. This suggests that the shares are expected to list at approximately ₹151 per share.
Note: GMP is an unofficial indicator based on market speculation and does not guarantee actual listing performance.
Important Dates to Remember
| Event | Date |
|---|---|
| IPO Opening Date | November 29, 2024 (Friday) |
| IPO Closing Date | December 3, 2024 (Tuesday) |
| Allotment Date | December 4, 2024 (Wednesday) |
| Refund Initiation | December 5, 2024 (Thursday) |
| Credit of Shares in Demat Account | December 5, 2024 (Thursday) |
| Listing Date | December 6, 2024 (Friday) |
The IPO will open for subscription on November 29, 2024 (Friday) and close on December 3, 2024 (Tuesday). The allotment of shares will be finalized on December 4, 2024 (Wednesday), followed by the initiation of refunds on December 5, 2024 (Thursday). The shares will be listed on the stock exchange on December 6, 2024 (Friday).
Company's Financial Standings
| Period | As of August 31, 2024 (₹ Lakhs) | FY 2024 (₹ Lakhs) | FY 2023 (₹ Lakhs) | FY 2022 (₹ Lakhs) |
|---|---|---|---|---|
| Total Assets | 12,006.17 | 17,725.32 | 4,266.89 | 2,529.77 |
| Total Revenue | 21,232.86 | 29,181.12 | 13,504.85 | 8,115.46 |
| Total Expense | 19,193.99 | 22,392.55 | 12,720.48 | 7,829.32 |
| Profit After Tax | 1,537.20 | 1,554.47 | 520.92 | 188.75 |
| Company’s Net Worth | 6,617.24 | 3,720.04 | 1,515.22 | 819.44 |
| Total Reserves & Surplus | 5,075.01 | 2,622.26 | - | - |
Ganesh Infraworld Limited’s total assets increased from ₹2,529.77 Lakhs in FY 2022 to ₹17,725.32 Lakhs in FY 2024, showing steady growth. Revenue also grew from ₹8,115.46 Lakhs in FY 2022 to ₹29,181.12 Lakhs in FY 2024, reflecting the company’s expanding business operations. Profit After Tax improved from ₹188.75 Lakhs in FY 2022 to ₹1,554.47 Lakhs in FY 2024, indicating better profitability. The company’s net worth went from ₹819.44 Lakhs in FY 2022 to ₹3,720.04 Lakhs in FY 2024, demonstrating strong financial recovery and stability.
Company’s Key Metrics (FY 2024)
| Key Performance Indicator | Value (₹ Lakhs or %) |
|---|---|
| Return on Capital Employed (ROCE) | 35.17% |
| Return on Equity (ROE) | 29.74% |
| Price to Book Value (P/BV) | 3.87 |
| EBITDA Margin (%) | 10.19% |
| After Tax Profit Margin (%) | 7.24% |
| Debt to Equity Ratio | 0.16 |
| Return on Net Worth (RONW) | 29.74% |
Lot Size and Application Amount
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail Investor (Minimum Lot) | 1 | 1,600 | ₹132,800 |
| Retail Investor (Maximum Lot) | 1 | 1,600 | ₹132,800 |
| HNI Investor (Minimum Lot) | 2 | 3,200 | ₹265,600 |
Retail investors are eligible to submit bids for a minimum of one lot, containing 1,600 shares, amounting to ₹132,800. On the other hand, HNI investors can apply for a minimum of 2 lots comprising 3,200 shares, amounting to ₹265,600.
Reserve Quota For Different Category of Investors
| Investor Category | Reservation |
|---|---|
| Shares Reserved for QIB | 50% of the Net Issue |
| Shares Reserved for Retail Investors | 35% of the Net Issue |
| Shares Reserved for Non-Institutional Investors | 15% of the Net Issue |
Net Cash Flow Overview
| Particulars | As at August 31, 2024 (₹ Lakhs) | FY 2024 (₹ Lakhs) | FY 2023 (₹ Lakhs) | FY 2022 (₹ Lakhs) |
|---|---|---|---|---|
| Net Cash Flow from Operating Activities | 34.32 | -484.12 | 258.64 | -1,020.34 |
| Net Cash Flow from Investing Activities | 2,045.55 | -2,275.28 | -702.69 | 674.68 |
| Net Cash Flow from Financing Activities | -761.97 | 3,312.29 | 448.98 | 316.03 |
| Net Increase/Decrease in Cash and Cash Equivalents | 1,317.90 | 552.88 | 4.93 | -29.64 |
Peer Comparison: EPS, PE Ratio, and Face Value
| Company Name | EPS (₹) | P/E Ratio | Face Value (₹) |
|---|---|---|---|
| Ganesh Infraworld Limited | 5.66 | * | 5.00 |
| PSP Projects Ltd | 34.16 | 18.08 | 10.00 |
| Capacit'e Infrastructure Ltd | 16.09 | 21.87 | 10.00 |
| Chavda Infra Ltd | 8.72 | 17.45 | 10.00 |
| AVP Infracom Ltd | 7.47 | 24.73 | 10.00 |
Objectives of Ganesh Infraworld IPO
Positives and Negatives of Ganesh Infraworld IPO
Positives:
- Expanding operations and growing market presence.
- Consistent rise in Profit After Tax (PAT).
- Strong financial growth in assets and revenue.
- Low debt-to-equity ratio ensures stability.
- Efficient resource use with healthy ROCE and ROE.
- Positive cash flow from financing activities.
Negatives:
- Limited operating history poses challenges in assessing long-term performance.
- Delays or cost overruns in projects could impact financial stability.
- Exposure to regulatory risks due to non-compliance during transition phases.
- Revenue and profitability are susceptible to industry fluctuations.
- Potential liabilities from construction-related issues may affect profitability.
Our Verdict
Ganesh Infraworld Limited has shown strong financial growth and an ability to handle large-scale projects, reflecting its potential for further expansion. The steady increase in Profit After Tax (PAT) and revenue highlights its operational efficiency and growth opportunities.
However, investors should keep in mind the company’s short operating history and the risks of the construction industry before deciding.
Overall, Ganesh Infraworld looks promising for growth. It’s important to review the Red Herring Prospectus (RHP) carefully to understand its financials and future plans before investing.
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Commonly Asked Questions
- What is the opening and closing date for the Ganesh Infraworld IPO?
The IPO opens on 29 November, 2024 (Friday) and closes on 3 December, 2024 (Tuesday). - What is the price band for the Ganesh Infraworld IPO?
The price band for the Ganesh Infraworld IPO is set between ₹78 and ₹83 per share. - What is the minimum lot size for retail investors in the Ganesh Infraworld IPO?
Retail investors need to bid for a minimum of 1,600 shares, which amounts to an investment of ₹132,800. - Who are the lead managers for this IPO?
The lead manager for this IPO is Vivro Financial Services Private Limited. - Who is the registrar for the Ganesh Infraworld IPO?
The registrar is Link Intime India Private Limited. - What are the main objectives of the IPO?
The funds will primarily be used for working capital requirements, expanding operations, bidding for larger projects, and improving cash flow management. - On which stock exchanges will the shares be listed?
The shares will be listed on the NSE SME Exchange. - What is the total issue size for the Ganesh Infraworld IPO?
The total issue size is ₹98.58 crore, comprising 11,876,800 equity shares. - When will the allotment and refund process begin?
The allotment is scheduled for 4 December, 2024, and refunds will begin on 5 December, 2024. - When will the shares be credited to the Demat account?
Shares will be credited to investors’ Demat accounts on 5 December, 2024. - What is the expected listing date for the IPO?
The shares are expected to list on the stock exchange on 6 December, 2024 (Friday).
Note: This article is based on the information received from the company’s official documents, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). For up-to-date information on the Grey Market Premium (GMP) for the Ganesh Infraworld IPO, you may please check our Current GMP, where we will post the latest figures as soon as they are available.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in an IPO or any other securities to make sure that it suits your financial plans and risk tolerance.
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