Ganesh Green Bharat IPO to Hit the D-Street on July 5: Kick-Off Details and Price Band Revealed

The initial public offering (IPO) for Ganesh Green Bharat Ltd is set to start on Friday, 5th July 2024. The shares, each with a face value of ₹10, will be offered in a price band of ₹181 to ₹190. The IPO will close on Tuesday, 9th July 2024.

Allocation Breakdown

The IPO will allocate 50% of the shares to Qualified Institutional Buyers (QIB), 35% to retail investors, and 15% to Non-Institutional Investors (NII).

Application Requirements

Retail investors can apply for a minimum of 600 shares, requiring an investment of at least ₹1.14 lakh. High Net Worth Individuals (HNIs) must apply for at least two lots (1,200 shares), costing ₹2.28 lakh at the upper price range.

About Ganesh Green Bharat

Founded in April 2016, Ganesh Green Bharat Ltd focuses on producing solar PV modules and systems, electrical contracting, and water supply projects. Their solar PV plant has a capacity of 236.73 MW, with plans to expand by 163.27 MW. Their subsidiary, Souraj Energy Private Ltd, also produces solar PV modules with a capacity of 192.72 MW. The company uses polycrystalline, monocrystalline, and Topcon technologies for solar PV module production.

Government Projects

Ganesh Green Bharat has completed various government projects, including the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna. They also handle water supply projects like Har Ghar Jal (Jal Jeevan Mission) and Mukhya Mantri Nishchay Quality Affected Yojna.

Financial Performance

Ganesh Green Bharat’s financials show a consolidated revenue of ₹170.17 crore, a Profit After Tax (PAT) of ₹19.88 crore, and Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of ₹34.62 crore. Their Return on Equity (ROE) is 46.42%, and their Return on Capital Employed (ROCE) is 29.98%.

IPO Details

The Ganesh Green Bharat IPO aims to raise ₹125.23 crore through a pure offer-for-sale of up to 6,591,000 equity shares. The funds will be used for general business purposes, working capital, buying new equipment, and repaying some existing loans.

Management and Dates

Hem Securities Limited is the book-running lead manager, and Kfin Technologies Ltd is the registrar. The share allocation for the IPO will likely be finalised on Wednesday, 10th July. Refunds and share credits to demat accounts will also start on the same day. The shares are expected to list on the NSE SME on Friday, 12th July.