West Bengal-based construction and allied services provider Ganesh Infraworld is set to launch its Rs 99-crore initial public offering (IPO), opening for subscription from November 29 to December 3. The price band for the book-built issue is Rs 78-83 per share, with the anchor book opening a day earlier on November 28.
Key IPO Details
- Issue Size: Fresh issue of 1.18 crore equity shares.
- Price Band: Rs 78-83 per share.
- IPO Proceeds: Entire proceeds (excluding expenses) will go to the company.
Business Overview
Ganesh Infraworld specializes in providing construction and allied services across:
- Industrial civil projects, residential, and commercial buildings.
- Road, railway infrastructure, power, and water distribution projects.
- Expertise in engineering, procurement, and construction (EPC) services.
The company boasts a robust order book of Rs 574.9 crore as of August 31, 2024, covering 41 ongoing projects.
Fund Utilization
The net proceeds from the IPO will be allocated as follows:
- Rs 70 crore for working capital requirements:
- Rs 40 crore in FY2025.
- Rs 30 crore in FY2026.
- Remaining funds for general corporate purposes.
Growth Potential
The IPO is expected to fuel Ganesh Infraworld’s working capital needs and support its growth in EPC services across infrastructure and construction sectors.
Lead Manager
Vivro Financial Services is acting as the book-running lead manager for the issue.
This IPO presents an opportunity for investors seeking exposure to the infrastructure and EPC sector, with Ganesh Infraworld aiming to capitalize on its strong order book and market presence.
