Ganesh Infraworld Limited is a construction company and specializes in the construction of industrial, civil, residential, and commercial buildings, as well as road, railway, power, and water distribution projects. Ganesh Infraworld IPO is set to raise Rs 98.58 crores. The issue is entirely a fresh issue.

About Ganesh Infraworld

• They are a construction company offering a range of construction and allied services across industrial civil projects, residential & commercial buildings, road construction, railway infrastructure projects, power projects and water distribution projects in India.
• They specialize in integrated engineering, procurement, and construction (“EPC”) services and provide our services across the construction value chain, ranging from planning, design, construction including mechanical, electrical, civil and industrial and allied services and supply of materials for the execution of services.
• They conduct business operations primarily through three verticals, namely,
  • (i) civil and electrical infrastructure projects;
  • (ii) road and rail infrastructure development projects; and
  • (iii) water infrastructure development projects, as a single operating segment of engineering and construction.
• As of August 31, 2024, the company has 42 department employees.
• Vibhoar Agrawal and Rachita Agrawal are the company’s promoters

Financials: Ganesh Infraworld IPO

Anchor: Ganesh Infraworld IPO

Ganesh Infraworld IPO : Salient Points

• Most of the proceeds from IPO will goo towards working capital.
• As of August 31, 2024, they had an Order Book of ₹ 57,485.53 lakhs
• Company undertakes sub-contracting assignments of infrastructure construction projects from third party major infrastructure and construction entities in various fields.
• 80% of their revenue comes from sub contracting and now 20% from their own projects.
• They expect contribution from water related projects to increase,

• Peers

• As of August 31, 2024, the company had 41 active projects valued at about Rs 57,485.53 lakhs. These projects are spread across 13 different states and sectors.
• At present they have orders in West Bengal, Jharkhand. Now this will have more focus on U.P. and Maharashtra.
• PE 9.6x (annualized) ; 9.6x ; PE Fy24: 22.8x
• I intend to apply in Ganesh Infraworld IPO. Ganesh Infraworld Limited is targeting growth in the infrastructure sector, which aligns with country’s developmental initiatives. priorities. They have good execution track record and are are spreading their wings from east to north and West part of India. They started as manpower suppliers, moved to sub contractors (now 80%) and now are making a transition to a contractor (now 20%).
• GMP as reported on social media is around Rs. 68 (81%).
• Lead Manager Vivro Financial Services Private Limited has excellent track record.
• SME IPOs are quite volatile and new retail investors need to exercise considerable caution in my view.
• This post is exploratory and educational purposes only. Please do your own diligence before investing in SME IPOs like this.
• Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . I have in the past cleared some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Do check the data from company’s RHP and exchanges before making any decision. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.