The Ganesh Green Bharat IPO witnessed an unprecedented response from investors
IPO News: The Ganesh Green Bharat IPO has captured the attention of investors with its overwhelming response and anticipation of substantial listing gains. Here’s a comprehensive look at what investors need to know about the IPO allotment process, how to check their status, and what to expect next.
Introduction to Ganesh Green Bharat IPO
The Ganesh Green Bharat IPO, which was open for public subscription from July 5 to July 9, 2024, witnessed an unprecedented response from investors. The IPO, valued at Rs 135.23 crore, received bids for 1,01,21,49,000 shares against the 44,02,200 shares on offer, marking an oversubscription of 229.92 times. Such high demand underscores investor confidence in Ganesh Green Bharat Ltd’s prospects.
Allotment Process and Timeline
As of today, Wednesday, July 9, 2024, the IPO allotment process is set to be finalized. Investors who participated in the IPO can expect to receive the bank debit message by evening once the allotment is completed. The allotment status will be available on Kfin Technologies Ltd’s portal, where investors can check using their application number, demat account number, or PAN number.
Steps to Check Allotment Status
Visit Kfin Technologies Ltd’s portal.
Select ‘Ganesh Green Bharat Ltd’ from the IPO drop-down list.
Choose ‘application number’, ‘demat account’, or ‘PAN number’.
Enter the corresponding number.
Enter the Captcha.
Click on the ‘Search’ button to view your allotment status.
Grey Market Premium (GMP) Insights
Market observers have noted a significant grey market premium (GMP) for Ganesh Green Bharat Ltd’s shares, indicating strong investor interest and expectations of listing gains. Currently, the GMP stands at Rs 240, reflecting a 126.32% premium over the issue price. This premium is subject to change based on market sentiments and demand dynamics.
Details of Ganesh Green Bharat IPO
Issue Details: The IPO consists entirely of fresh issuance of 65.91 lakh shares.
Price Band: The price band for the IPO was set between Rs 181 to Rs 190 per share.
Subscription Breakdown: Non-institutional investors oversubscribed by 470.44 times, retail individual investors (RIIs) by 176.88 times, and qualified institutional buyers (QIBs) by 154.50 times.
Minimum Investment: Retail investors were required to apply for a minimum of 600 equity shares, amounting to Rs 1,14,200 at the upper price band.
Key Players and Company Profile
Hem Securities Limited served as the book running lead manager for the Ganesh Green Bharat IPO, with Kfin Technologies Limited acting as the registrar. Hem Finlease played the role of market maker for the IPO.
Ganesh Green Bharat Ltd, established in April 2016, specializes in electrical contracting services. The company offers a range of solutions including the supply, installation, testing, and commissioning (SITC) of solar and electrical products and services to various governmental entities.
Financial Performance and Future Outlook
In the financial year 2023-24, Ganesh Green Bharat Ltd reported significant growth with an 89.82% increase in revenue and a 167.67% rise in profit after tax (PAT). The company’s robust financial performance underscores its competitive positioning and growth potential in the renewable energy sector.
The Ganesh Green Bharat IPO has set new benchmarks in terms of investor participation and market reception. With strong subscription numbers and a promising grey market premium, investors await the listing of Ganesh Green Bharat Ltd’s shares on the NSE SME on July 12, 2024, with anticipation. As the IPO allotment completes today, investors are encouraged to check their status promptly to stay informed about their investment in this high-growth opportunity.
This article provides a detailed overview of the IPO process, allotment status checking steps, grey market insights, and company profile, aiming to guide investors through the next steps in their investment journey.
