IPO this week: Ganesh Infraworld Limited IPO, other details
Business: India’s primary market will see significant market activity related to the listing of the much-awaited initial public offerings (IPOs) of NTPC Green Energy, Enviro Infra Engineers and two other small and medium enterprise (SME) public issues. Along with this, six other SME IPOs will also open this week starting November 25.
The stock market recovered with a gain of more than 2 percent after falling more than half a percent on Friday, including index heavyweights like Reliance, Infosys, ICICI Bank and TCS. The Nifty 50 closed 2.39 percent higher at 23,907.25 points after Friday’s trading session, compared to 23,349.90 points at the previous market close. The BSE Sensex index closed 2.54 percent higher at 79,117.11 points compared to its previous close of 77,155.79 points. Despite challenges in the market due to Adani shares falling due to allegations from the US securities regulator, the entire third week of November remained quite active for the primary markets.
Looking ahead, the list of upcoming IPOs next week includes six SME IPOs that aim to raise funds from the public markets in the last week of November.
Ganesh Infraworld Limited IPO
Ganesh Infraworld Limited is a construction services provider that is offering a fresh issue of 118.77 lakh shares through a book-built issue. The company aims to raise ₹98.58 crore from the stock market.
The public issue will open for subscription on Friday, November 29 and close on Tuesday, December 3. The shares are expected to be listed on the NSE SME Index on Friday, December 6.
The company has fixed the price band for the public issue at ₹78 to ₹83 per share, with a lot size of 1,600 shares per lot. Retail investors have to invest a minimum of ₹1,32,800, and HNIs have to invest a minimum of 2 lots (3,200 shares), amounting to ₹2,65,600.
Vivro Financial Services Private Limited is the book-running manager for this public issue, while Link Intime India Private Limited is the registrar to the offer. Rikhav Securities is the market maker for Ganesh Infraworld IPO.
