Ganesh Infraworld IPO To Open on November 29

Ganesh Infraworld Limited was initially established as a partnership under the name ‘Ganesh International’ through a Deed of Partnership on May 15, 2017, by Vibhoar Agrawal and Rachita Agrawal. The business of ‘Ganesh International’ was subsequently transformed from a partnership into a private limited company called ‘Ganesh Infraworld Private Limited,’ which received its Certificate of Incorporation from the Registrar of Companies in Kolkata on February 13, 2024. Following this, the company changed its status to a public limited company and was renamed ‘Ganesh Infraworld Limited’ with a new Certificate of Incorporation issued on June 1, 2024.

Ganesh Infraworld IPO To Open on November 29

Ganesh Infraworld, a provider of construction and related services, has initiated its initial public offering (IPO) worth Rs 99 crore, setting a price range of Rs 78-83 per share, even amid challenging conditions in the equity market. The public offering will be available for subscription from November 29 to December 3. 

This book-built issue consists solely of the issuance of 1.18 crore equity shares by the company, ensuring that all proceeds from the IPO (minus the expenses related to the offering) will benefit the company directly. The anchor book for the public issue will be open for one day on November 28. Vivro Financial Services is serving as the lead bookrunning manager for this offering.

Ganesh Infraworld work and ongoing projects

The company based in West Bengal provides construction and related services for various industrial civil projects, including residential and commercial buildings, as well as road and railway infrastructure and power and water distribution projects. It specializes in engineering, procurement, and construction (EPC) services and has an order backlog of Rs 574.9 crore as of August 31, which consists of 41 active projects.

Ganesh Infraworld plans to allocate Rs 70 crore from the proceeds of the net issue for its working capital needs, with the remainder designated for general corporate purposes. It intends to utilize Rs 40 crore in the current financial year and Rs 30 crore in the following fiscal year, 2026, for its working capital.

Objective of IPO

The company intends to use the net proceeds from the new issue mainly for general corporate purposes and to satisfy its long-term working capital needs.

Strength of IPO

Reputation is confirmed by the company’s strong order book and repeat business from leading engineering and construction firms. Its extensive project management and execution skills demonstrate adaptability and proficiency across a range of infrastructure segments.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.