New Delhi: Ganesh Green Bharat IPO will be listed today (July 12, 2024) on NSE SME. The bidding for the IPO took place from July 5-9, 2024. The public issue got booked over 229.92 times on the ;ast day of the bidding process. The retail portion was subscribed 176.88 times.
The Ganesh Green Bharat IPO is valued at Rs 125.23 crores. It comprised a fresh issue of 6,591,000 shares. This IPO follows the book built issue format. Each share had a face value of Rs 10.
Ganesh Green Bharat IPO GMP
As of July 11, 2024, the latest Grey Market Premium (GMP) for Ganesh Green Bharat IPO stood at Rs 255, as per Investor Gain. Based on this, the estimated listing price is projected to be Rs 445 per share, considering the cap price plus the GMP. This suggests an expected gain of 134.21% per share upon listing. The GMP for Ganesh Green Bharat SME IPO has shown an upward trend, indicating strong market anticipation for listing.
IPO Subscription Status
As of July 9, 2024, the Ganesh Green Bharat IPO garnered a total subscription rate of 229.92 times. In the retail category, the subscription was 176.88 times, while in the Qualified Institutional Buyer (QIB) category, it reached 154.50 times. The Non-Institutional Investor (NII) category showed the highest subscription rate at 470.44 times.
Price Band
The price band for the Ganesh Green Bharat IPO was in the range of Rs 181 to Rs 190 per share. The minimum lot size for application was 600 shares. Retail investors were required to invest a minimum of Rs 1,14,000 to apply for 600 shares. High Net Worth Individuals (HNI) were required to invest at least Rs 228,000 for 1,200 shares.
Ganesh Green Bharat IPO Objectives
The funds raised from the IPO will be allocated towards several key areas, including repayment of existing borrowings, investment in additional plant and machinery, meeting working capital needs, and supporting general corporate initiatives.
Company Profile: Ganesh Green Bharat Limited
Ganesh Green Bharat Limited was incorporated in April 2016. The company operates in the industry of electrical contracting services, offering services that include the supply, installation, testing, and commissioning of solar and electrical goods. It has extensive experience in executing projects under various government schemes such as Saubhagya, KUSUM, Saur Sujla Yojna, Mukhya Mantri Nishchay Quality Affected Yojna, and Har Ghar Jal.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
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Ganesh Green Bharat IPO: The price band for the Ganesh Green Bharat IPO ranged from Rs 181 to Rs 190 per share. The minimum lot size for application was 600 shares. Retail investors were required to invest a minimum of Rs 1,14,000 to apply for 600 shares Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
