Ganesh Green Bharat IPO Attracts Strong Investor Interest on Day 1 | All You Need to Know

Ganesh Green Bharat Ltd’s initial public offering (IPO) kicked off on Friday, July 5, with robust demand from investors. The subscription period will run until Tuesday, July 9. The IPO offers shares priced between ₹181 and ₹190 each, with a lot size of 600 shares and a face value of ₹10.

Retail and NII Categories Oversubscribed

Retail investors have shown keen interest, subscribing the retail portion by 13.64 times, while high-net-worth individuals (HNIs) subscribed by 5.12 times. Institutional investors have also shown significant interest, subscribing 4.61 times.

Ganesh Green Bharat Ltd operates in the solar energy sector, focusing on manufacturing solar photovoltaic modules, solar systems, electrical contracting, and water supply projects. The company’s solar PV facility has an installed capacity of 236.73 MW, with plans to expand by an additional 163.27 MW. They manufacture modules using monocrystalline, polycrystalline, and Topcon solar cell technologies.

Financial Performance and Use of IPO Proceeds

Financially, Ganesh Green Bharat reported consolidated sales of ₹170.17 crore, a profit after tax (PAT) of ₹19.88 crore, and EBITDA of ₹34.62 crore. The company boasts a return on capital employed (ROCE) of 29.98% and return on equity (ROE) of 46.42%.

The IPO, valued at ₹125.23 crore, is an offer-for-sale of up to 6,591,000 equity shares. The funds raised will primarily be used for working capital, capital expenditures, and debt repayment.

IPO Management and Market Expectations

Hem Securities Limited is managing the IPO, with Kfin Technologies Ltd serving as the registrar. The grey market premium for Ganesh Green Bharat IPO stands at ₹205, indicating strong investor interest and potential for a listing price around ₹395 per share, significantly above the IPO price.