Ganesh Green Bharat IPO opens today for bids; GMP, price, lot size here

Ganesh Green Bharat initial public offering (IPO) is set to open for subscription on Friday, July 5. The IPO aims to raise Rs 125.23 crores comprising entirely a fresh issue of around 6.59 million shares.

The proceeds from the IPO will be used for repaying outstanding borrowings, financing capital expenditures for installing additional plant and machinery at their factory, meeting working capital needs, and addressing general corporate purposes.

Founded in April 2016, Ganesh Green Bharat Limited deals in electrical contracting services, offering supply, installation, testing, and commissioning (SITC) of solar and electrical products and services primarily to government entities.

Here is all you need to know about Ganesh Green Bharat IPO

 

Ganesh Green Bharat IPO Lot size

Ganesh Green Bharat IPO price band is set at Rs 181 to Rs 190 per share. The minimum lot size for an application is 600 Shares. The minimum amount of investment required by retail investors is Rs 1,14,000. The minimum lot size investment for HNI is 2 lots (1,200 shares) amounting to Rs 2,28,000.

Ganesh Green Bharat IPO allotment & listing

Ganesh Green Bharat IPO opens for subscription on July 5, 2024 and closes on July 9, 2024. The allotment for the Ganesh Green Bharat IPO is expected to be finalised on Wednesday, July 10, 2024. Ganesh Green Bharat IPO will list on NSE SME with tentative listing date fixed as Friday, July 12, 2024.

Ganesh Green Bharat IPO GMP

According to IPO platform Chittorgarh IPO, The SME IPO’s last grey market premium is Rs 200. With the price band of Rs 190, and estimated listing price of Rs 390, the expected listing gain is at 105.26 per cent per share.

Ganesh Green Bharat IPO Lead managers

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 IPO Financials

According to analysts at HEM Securities the company has shown a decent financials over the years,  with its growth at a CAGR of 27 per cent from fiscal year 2021-22 (FY22) to FY24. The company’s bottom line has also grown at a CAGR of 95.53 per cent from FY22-FY24 with ROE at 46.42 per cent and ROCE at 29.98 per cent in FY24.

Post the IPO, the company will have a price to earnings multiple of 23.33 with an earning per share of Rs 8.15. 

According to those at HEM Securities, as of March 31, 2024, Ganesh Green Bharat Limited's order book, includes: 10 solar system and allied services work orders valued at Rs 273.28 crore, 7 electrical contracting services work orders totaling Rs 26.45 crore, and 1 water supply scheme work order worth Rs 14.23 crore. The brokerage however, did not rate the IPO.