Ganesh Green Bharat IPO Review
Ganesh Green Bharat IPO is set to launch, opening on July 5, 2024, and closing on July 9, 2024. This NSE SME IPO aims to raise ₹125.23 crores. The price band is set between ₹181 to ₹190 per share, with a minimum lot size of 600 shares.
Company Overview
Ganesh Green Bharat offers comprehensive services in supply, installation, testing, and commissioning (SITC) of solar and electrical goods for various government bodies. They have completed projects under Central and State Government schemes like the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna.
The company also engages in designing, construction, installation, operation, and maintenance of Water Supply Scheme Projects, such as the Mukhya Mantri Nishchay Quality Affected Yojna and Har Ghar Jal (Jal Jeevan Mission).
Objects of the Issue
Ganesh Green Bharat Limited aims to achieve the following objectives with its IPO proceeds:
- Repayment of Outstanding Borrowings: The company plans to utilize INR 19 crores from the net proceeds to repay part or all of its borrowings. This will reduce indebtedness and debt servicing costs, freeing internal accruals for business growth and expansion.
- Funding Capital Expenditures for Plant and Machinery: INR 11.52 crores of the net proceeds will be allocated to capital expenditures for installing advanced machinery. This investment will enhance production capacity, efficiency, and product quality while supporting technological advancement and sustainability.
- Meeting Working Capital Requirements: The company proposes to use INR 60 crores of the net proceeds for additional working capital in Fiscal 2025. The remaining working capital needs will be covered by bank facilities and internal accruals.
- General Corporate Purposes: The balance of the funds will be deployed towards general corporate purposes, including funding growth opportunities, covering business expenses, servicing borrowings, brand building, marketing, addressing business contingencies, and other purposes.
Ganesh Green Bharat IPO Details
| Detail | Information |
|---|---|
| IPO Open Date | July 5, 2024 |
| IPO Close Date | July 9, 2024 |
| IPO Size | Approx ₹125.23 Crores (6,591,000 Equity Shares) |
| Fresh Issue | Approx ₹125.23 Crores (6,591,000 Equity Shares) |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹181 to ₹190 Per Equity Share |
| Ganesh Green Bharat IPO Listing at | NSE SME |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
Market Lot
- Minimum Lot Size: 600 shares
- Minimum Application Amount: ₹114,000
- S-HNI Minimum Application: 1200 shares, ₹228,000
Important Dates
- Basis of Allotment: July 10, 2024
- Refunds: July 11, 2024
- Credit to Demat Account: July 11, 2024
- Listing Date: July 12, 2024
Application Process
You can apply for the Ganesh Green Bharat IPO via ASBA through your bank account or by downloading the IPO forms from the NSE website, filling them out, and submitting them to your bank or broker.
Ganesh Green Bharat Limited IPO – Type of Offer
Ganesh Green Bharat Limited is launching an IPO with a fresh issue of 65,91,000 shares, valued at INR 125.23 crores. The funds raised will be used to repay borrowings, fund capital expenditures, meet working capital requirements, and cover general corporate purposes.
Ganesh Green Bharat IPO Offer Size
The IPO offer size is INR 125.23 crores, comprising a fresh issue of 65,91,000 shares. The proceeds will be directed towards repaying borrowings, funding capital expenditures, meeting working capital needs, and supporting general corporate purposes.
How to Apply in Ganesh Green Bharat IPO through Zerodha?
- Login to Console: Go to the Zerodha website and log in to your Console account.
- Access IPO Section: Navigate to the Portfolio section and click on the IPOs link.
- Select IPO: Find the ‘Ganesh Green Bharat IPO‘ row and click on the ‘Bid‘ button.
- Enter Application Details: Enter your UPI ID, the quantity of shares, and the bid price.
- Submit Form: Click ‘Submit‘ to complete your IPO application form.
- Approve Mandate: Open your UPI app (net banking or BHIM) and approve the mandate request.
Financial Performance
| Year | Revenue | Expense | PAT |
|---|---|---|---|
| 2022 | ₹106.12 Crores | ₹99.08 Crores | ₹5.21 Crores |
| 2023 | ₹90.60 Crores | ₹79.57 Crores | ₹8.16 Crores |
| 2024 | ₹171.96 Crores | ₹143.60 Crores | ₹21.83 Crores |
IPO Valuation – FY2024
- Earnings Per Share (EPS): ₹10.92
- Return on Net Worth (RoNW): 34.72%
- Net Asset Value (NAV): ₹31.46
Peer Group
- Solex Energy Limited
- Waaree Renewable Technologies Limited
- Zodiac Energy Limited
Promoters
- Ketanbhai Narsinhbhai Patel
- Rajendrakumar Narsinhbhai Patel
- Niravkumar Sureshbhai Patel
- Shilpaben Ketanbhai Patel
Lead Managers
- Hem Securities Limited
Ganesh Green Bharat IPO FAQs
What is Ganesh Green Bharat IPO?
Ganesh Green Bharat Limited IPO GMP today is going public with an SME IPO to raise ₹125.23 crores, with a price band of ₹181 to ₹190 per equity share.
When will the Ganesh Green Bharat IPO open for subscription?
The IPO will open for subscription from July 5, 2024 to July 9, 2024.
What is the face value of Ganesh Green Bharat shares?
The face value is ₹10 per equity share.
What is the tentative listing date for Ganesh Green Bharat shares?
The tentative listing date is July 12, 2024.
Avinash Dyal