The issue is entirely a fresh issue of 65.91 lakh shares. Ganesh Green Bharat IPO is a book built issue of Rs 125.23 crores.
Ganesh Green Bharat IPO price band is set at ₹181 to ₹190 per share. The minimum lot size for an application is 600 Shares. The minimum amount of investment required by retail investors is ₹114,000. The minimum lot size investment for HNI is 2 lots (1,200 shares) amounting to ₹228,000.
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 finalized on Wednesday, July 10, 2024. Ganesh Green Bharat IPO will list on NSE SME with tentative listing date fixed as Friday, July 12, 2024.
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.
Refer to Ganesh Green Bharat IPO DRHP for detailed information.
About Ganesh Green Bharat Limited
Incorporated in April 2016, Ganesh Green Bharat Limited is an Electrical Contracting Service company. The company offers a range of services including the supply, installation, testing, and commissioning (SITC) of solar and electrical goods and services to various government bodies.
The company has completed projects under various government schemes, such as the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna. Additionally, we have ventured into designing, building, installing, operating, and maintaining water supply projects like the Mukhya Mantri Nishchay Quality Affected Yojna, and Har Ghar Jal (Jal Jeevan Mission).
As of March 31, 2024, the company’s Order Book includes:
- 10 work orders for Solar System & Allied Services
- 7 work orders for Electrical contracting services
- 1 work order for Water Supply Scheme Projects
The company has a team of 10 engineers supported by third-party consultants and industry experts to ensure compliance with industry and government standards.
The company’s clients include government departments of eight states, such as Gujarat Industrial Development Corporation (GIDC), Ahmedabad Municipal Corporation (AMC), Rajasthan Renewable Energy Corporation Limited (RRECL), and several others. It also sells Solar PV modules to private sector organizations.
As of March 31, 2024, the company had around 39 employees and contract labor at its project sites.
Ganesh Green Bharat IPO Details
| IPO Date | July 5, 2024 to July 9, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹181 to ₹190 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 6,591,000 shares(aggregating up to ₹125.23 Cr) |
| Fresh Issue | 6,591,000 shares(aggregating up to ₹125.23 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,210,000 |
| Share holding post issue | 24,801,000 |
| Market Maker portion | 331,200 shares |
Ganesh Green Bharat IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Ganesh Green Bharat IPO Timeline (Tentative Schedule)
Ganesh Green Bharat IPO opens on July 5, 2024, and closes on July 9, 2024.| IPO Open Date | Friday, July 5, 2024 |
| IPO Close Date | Tuesday, July 9, 2024 |
| Basis of Allotment | Wednesday, July 10, 2024 |
| Initiation of Refunds | Thursday, July 11, 2024 |
| Credit of Shares to Demat | Thursday, July 11, 2024 |
| Listing Date | Friday, July 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 9, 2024 |
Ganesh Green Bharat IPO Lot Size
Investors can bid for a minimum of 600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹114,000 |
| Retail (Max) | 1 | 600 | ₹114,000 |
| HNI (Min) | 2 | 1,200 | ₹228,000 |
Ganesh Green Bharat IPO Promoter Holding
The promoters of the company are Ketanbhai Narsinhbhai Patel, Rajendrakumar Narsinhbhai Patel, Niravkumar Sureshbhai Patel and Shilpaben Ketanbhai Patel| Share Holding Pre Issue | 100% |
| Share Holding Post Issue |
Ganesh Green Bharat Limited Financial Information (Restated Consolidated)
Ganesh Green Bharat Limited's revenue increased by 89.82% and profit after tax (PAT) rose by 167.67% between the financial year ending with March 31, 2024 and March 31, 2023.| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 15,029.82 | 8,786.05 | 8,835.50 |
| Revenue | 17,196.48 | 9,059.53 | 10,612.10 |
| Profit After Tax | 2,183.02 | 815.57 | 520.75 |
| Net Worth | 5,727.64 | 2,707.34 | 2,707.34 |
| Reserves and Surplus | 3,906.64 | 3,402.91 | 2,587.34 |
| Total Borrowing | 5,370.17 | 2,738.89 | 2,247.06 |
Key Performance Indicator
The market capitalization of Ganesh Green Bharat IPO is Rs 509.22 Cr.| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.99 | 8.15 |
| P/E (x) | 15.85 | 23.33 |
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (Ganesh Green Bharat IPO Objectives)
The company proposes to utilise the Net Proceeds from the Issue towards funding the following objects:
- Repayment in full or in part, of certain of the outstanding borrowings;
- Funding Capital Expenditure towards installation of additional plant and machinery at the factory
- Funding to meet working capital requirements
- General Corporate Purpose.
Ganesh Green Bharat Limited Contact Details
Ganesh Green Bharat Limited
F-202. S.G. Business Hub
S.G. Highway
Ahmedabad-382470
Phone: +91-79-29703080
Email: cs@ganeshgreen.com
Website: https://ganeshgreen.com/Read More-Ambey Laboratories Limited IPO (Ambey Laboratories IPO) Detail
