Ganesh Infraworld IPO to debut today. GMP signals robust gains
NSE SME platform on Friday. Ahead of the listing, the company's shares were trading with a GMP of Rs 78 in the grey market.
Considering the upper price band of Rs 83, the stock is likely to see a maximum premium of 90% over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO, which was completely a fresh equity sale of 1.18 crore shares, received overwhelming response from investors with a subscription of over 300 times at close.
The net proceeds from the public offer will be used for long term working capital requirements and general corporate purposes.
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