Greenhitech Ventures IPO booked 770 times on last day: Check latest subscription status, allotment and other details

Greenhitech Ventures Limited IPO subscription closed with a massive demand from the investors as the public issue was booked a whopping 770 times on the last and final day of bidding.

The initial public offer of Greenhitech Ventures Limited received bids for nearly 91.94 crore shares compared to 11.94 lakh shares on offer, as per the BSE data until 5pm on the last day of bidding on Tuesday, April 19.

The Greenhitech Ventures Ltd IPO offer size comprises an entirely fresh issue of 12.6 lakh shares, including a market maker portion of 66,000 shares.

The retail investors submitted bids for 35.66 crore shares compared to 5.97 lakh shares on offer for the segment. The retail portion in the IPO was booked more than 597 times. The non-institutional investors’ (NIIs) category was booked more than 921 times with biddings for 55.02 crore shares against 5.97 lakh shares on offer.

The qualified institutional buyers (QIBs) applied for more than 1.24 crore shares.

The Greenhitech Ventures Limited IPO saw significant investor interest even on the first two days of the subscription. On the first day, April 12, the NII category subscribed 6.56 times, while the retail Investors subscribed 25.10 times, resulting in a total subscription of 15.83 times.

The momentum from Day 1 continued on the second day, April 15, as well. While the NII category saw a subscription of 70.56 times, the retail category was subscribed 147.06 times. This resulted in an overall subscription of 108.86 times.

Greenhitech Ventures Limited IPO key details

The Greenhitech Ventures IPO is a fixed-price issue set at ₹50 per share. Investors were required to bid for a minimum quantity of 3,000 shares to participate in the IPO. This translated to a minimum investment of ₹1,50,000 for retail investors. For High Net Worth Individuals (HNI), the minimum investment requirement was set at two lots, equivalent to 6,000 shares, amounting to ₹3,00,000.

Following the closure of the subscription period for the Greenhitech Ventures Limited IPO, the basis of allotment is scheduled for April 18. Refunds and the credit of shares to demat accounts will begin on April 19. The IPO is scheduled to be listed on BSE SME on April 22.

While Beeline Capital Advisors Pvt Ltd is the book running lead manager for the Greenhitech Ventures IPO, Skyline Financial Services Private Ltd is the registrar for the issue and Spread X Securities is the market maker.

About Greenhitech Ventures Limited

Greenhitech Ventures Limited, incorporated in November 2011, specialises in trading various petroleum-based products, including biofuels, bitumen and furnace oils. The company also participates in the operation and maintenance of ethanol manufacturing within government-owned distilleries. The company offers business solutions to fuel and alternative material consumers across India, particularly in the Purvanchal belt of Uttar Pradesh. Its head office is located in Varanasi.

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