Ganesh Green Bharat share price made a stellar debut on NSE SME today. Ganesh Green Bharat share price today opened at ₹361, which is 90% higher than the issue price of ₹190.
Subscriptions for Ganesh Green Bharat IPO opened on Friday, July 5, and concluded on Tuesday, July 9. 600 shares made up the lot size for the Ganesh Green Bharat IPO. With a face value of ₹10, the Ganesh Green Bharat IPO price band was set between ₹181 and ₹190 per equity share. Ganesh Green Bharat IPO subscription status was 229.92 times, on day 3.
Water supply scheme projects, electrical contracting, solar photovoltaic module manufacturing, and solar system and associated services are all undertaken by Ganesh Green Bharat Ltd. With an additional 163.27 MW scheduled for development, the solar PV project has a total installed capacity of 236.73 MW. Souraj Energy Private Ltd., an associate of the corporation, also produces solar photovoltaic (PV) modules with an installed capacity of 192.72 MW. Monocrystalline, polycrystalline, and Topcon solar cells are among the technologies utilised in the creation of solar PV modules.
As to the Red Herring Prospectus (RHP), the listed peers of the firm include Solex Energy Ltd (PE of 133.86), Waaree Renewable Technologies (P/E of 131.91), and Zodiac Energy Ltd (P/E of 94.15).
In addition to its ₹19.88 crore PAT and ₹34.62 crore EBITDA, Ganesh Green Bharat recorded consolidated revenues of ₹170.17 crore. ROE of 46.42% and ROCE of 29.98%.
The Ganesh Green Bharat IPO, worth ₹125.23 crore, is purely an offer-for-sale of up to 6,591,000 equity shares.
The proceeds from the issue will be used for general business purposes, working capital requirements, the repayment of some existing borrowings, either in full or in part, and capital expenditures for the installation of new machinery and equipment at the plant.
The Ganesh Green Bharat IPO's issue registrar is Kfin Technologies Ltd, and the book running lead manager is Hem Securities Ltd.
Ganesh Green Bharat IPO grey market premium is +235 . This indicates Ganesh Green Bharat share price were trading at a premium of ₹235 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, Ganesh Green Bharat IPO expected listing price was indicated at ₹425 apiece, which is 123.68% higher than the IPO price of ₹190.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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