Ganesh Green Bharat IPO booked over 12 times on day 1; check subscription status

Ganesh Green Bharat IPO witnessed strong investor demand, as the public issue was fully subscribed within hours of launch on Friday, July 5. According to stock exchange data, the NSE SME IPO was subscribed nearly over 12 times at the close of the first day of bidding.

The renewable energy company's initial public offer received bids for over 5.4 crore shares compared to 44.02 lakh shares on offer, leading to an overall subscription of 12.28 times. The demand for Ganesh Green Bharat IPO was led by the retail category.

Ganesh Green IPO was booked 18.09 times in the retail category as investors placed bids for more than 3.91 crore shares compared to 21.68 lakh shares reserved for the segment.

The Non-Institutional Investors (NIIs) placed bids for more than 77.53 lakh shares against the 9.29 lakh shares set aside for them. The NIIs’ portion was booked 8.34 times.

The Qualified Institutional Buyers (QIBs) placed bids for more than 71.67 lakh shares against the 12.38 lakh shares set aside for the segment. The issue was booked 5.78 times in the category.

To know more and invest in Ganesh Green Bharat IPO, CLICK HERE

Ganesh Green Bharat IPO offer size, price band and minimum investment

Ganesh Green Bharat IPO is a book-building issue worth ₹125.23 crore. The NSE SME IPO comprises entirely a fresh issue of 65.91 lakh shares. Ganesh Green Bharat IPO price band has been fixed at ₹181 to ₹190 per share.

Retail investors interested in bidding for the Ganesh Green Bharat IPO can apply for a minimum lot size of 600 shares, which aggregates to an investment of ₹1,14,000. On the other hand, high-net-worth individuals (HNIs) can place bids for a minimum of 2 lots or 1,200 shares, translating to an investment of ₹2,28,000.

Kfin Technologies Limited is the registrar for the Ganesh Green Bharat IPO.

Ganesh Green Bharat IPO dates

Ganesh Green Bharat subscription is open from July 5 to July 9. The IPO share allotment status is likely to be finalised by Wednesday, July 10. The successful bidders will receive Ganesh Green Bharat shares in their Demat accounts on July 11 and refunds will be initiated for non-allottees the same day.

The tentative listing date for Ganesh Green Bharat shares has been fixed as July 12.

Ganesh Green Bharat: Key Financials

Ganesh Green Bharat’s revenue for the financial year ended March 31, 2024, grew by nearly 90% to ₹171.96 crore compared to ₹90.59 crore in FY23. The company’s profit after tax for FY24 grew nearly 168% to ₹21.83 crore compared to ₹8.15 crore in FY23. The renewable energy company’s net worth for FY24 grew over 111% to ₹57.27 crore compared to ₹27.07 crore in the preceding fiscal.

Ganesh Green Bharat IPO: Promoters

Ganesh Green Bharat promoters are Ketanbhai Narsinhbhai Patel, Rajendrakumar Narsinhbhai Patel, Niravkumar Sureshbhai Patel and Shilpaben Ketanbhai Patel. The promoters of the company hold 100% shareholding in the company before the public issue. The shareholding of the promoter’s will reduce to 73.42% post IPO.

Ganesh Green Bharat IPO Objective

Ganesh Green Bharat will use the funds raised via the public issue for complete or partial repayment of its borrowings. A portion of the proceeds will also be used for financing capital expenditure and working capital requirements.

About Ganesh Green Bharat

Ganesh Green Bharat was incorporated in April 2016. The company is an Electrical Contracting Service company. The company’s range of services include supply, installation, testing, and commissioning (SITC) of solar and electrical goods. The company has completed projects under various government schemes.

To know more about IPOs listing, schedule and upcoming IPOs, click here