Market News
2 min read | Updated on July 10, 2024, 11:55 IST
SUMMARY
Ganesh Green Bharat IPO share allotment status is likely to be finalised on Wednesday, July 10. After the allotment finalisation, shares will be credited to the Demat account of successful bidders on Thursday, and refunds will commence for unsuccessful bidders.
Ganesh Green Bharat, which was incorporated in 2016, provides electrical contracting services.
Ganesh Green Bharat IPO: Following the blockbuster response from investors, the focus now shifts to share allotment of solar PV modules manufacturer Ganesh Green Bharat.
The NSE SME IPO, which was subscribed 229.92 times, received bids for 101.24 crore shares against 44.02 lakh shares on offer.
The non-institutional investors (NIIs) portion was subscribed the most, as they bid 470.79 times the allotted portion. The part set aside for retail investors was subscribed 176.87 times, and the qualified institutional buyers (QIBs) category saw 154.5 times subscriptions
The ₹125.23-crore IPO, which was live from July 5 to July 9, is solely a fresh issue of 65.91 lakh shares. The firm has set a fixed price band of ₹181 to ₹190 per equity share.
Ganesh Green Bharat, which was incorporated in 2016, provides electrical contracting services. They offer services such as supply, installation, testing and commissioning (SITC) of solar as well as electrical goods and services to various government bodies.
The company's notable clients include Ahmedabad Municipal Corporation (AMC), Gujarat Industrial Development Corporation (GIDC), and Rajasthan Renewable Energy Corporation Limited (RRECL). The firm also sells Solar PV modules to private organisations.
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