Ganesh Green Bharat IPO: The initial public offering of Ganesh Green Bharat Limited, which opened for public subcription on Friday, is witnessing its second day of bidding on Monday. Till 11:07 am on Monday, the Rs 135.23-crore IPO received a 19.88 times subscription garnering bids for 8,75,22,000 shares as against 44,02,200 shares on offer.
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The quota for non-institutional investors received 16.73 times subscription, while retail individual investors (RIIs) portion got subscribed 29.26 times. The qualified institutional buyer (QIB) category received a 6.85 times subscription.
The Ganesh Green Bharat IPO will be closed on July 9, and its price band was fixed at Rs 78-Rs 82 per share.
The IPO allotment will take place on July 10, while its shares will likely be listed on the NSE SME on July 12.
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Ganesh Green Bharat IPO GMP Today
According to market observers, unlisted shares of Ganesh Green Bharat Ltd are trading Rs 245 higher in the grey market as compared with its issue price. The Rs 245 grey market premium or GMP means the grey market is expecting a 128.95 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Ganesh Green Bharat IPO: More Details
The Ganesh Green Bharat IPO is entirely a fresh issue of 65.91 lakh shares. Its price band has been fixed at Rs 181 to Rs 190 per share.
Investors need to apply for a minimum of 600 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,14,200 [600 (lot size) x Rs 190 (upper price band)].
Hem Securities Limited is the book running lead manager of the Ganesh Green Bharat IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Ganesh Green Bharat IPO is Hem Finlease.
Ganesh Green Bharat Limited, established in April 2016, is an electrical contracting service company. The company offers a range of services including the supply, installation, testing, and commissioning (SITC) of solar and electrical goods and services to various government bodies.
Ganesh Green Bharat Ltd’s revenue jumped 89.82 per cent and profit after tax (PAT) rose 167.67 per cent during the year ended 2023-24.
