Ganesh Green Bharat SME IPO: The initial public offering (IPO) of energy sector company Ganesh Green India is opening on 5th July and closing on 9th July. The company through this IPO raised Rs. 125.23 crore is planned to be collected. Let us tell you that Ganesh Green Bharat is a solar PV module manufacturer.
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What is a price band?
Ganesh Green Bharat said in a statement on Tuesday that the price band for the IPO has been fixed at Rs 181-190 per share. While the gray market premium is Rs. is 190. It means that the share can be listed at 380 rupees. This represents 100% of the premium. Let us tell you that the shares of the company will be listed on NSE SME platform Emerge.
The IPO is entirely an issue of 65.91 lakh new shares. The estimated allotment date of the IPO is July 10. The estimated listing date of the IPO is July 12. The book running lead manager of the Ganesh Green Bharat IPO is Hem Securities Limited, while the registrar of the issue is Kfin Technologies Limited.
The proceeds of the IPO will be used for general business, working capital requirements, capital expenditure for installation of new equipment and machinery in the factory and repayment in whole or in part of certain existing borrowings.
About the company
Let us tell you that Ganesh Green was formed in April 2016. It deals with solar PV module manufacturing, power contracting services and water supply planning projects. The Ahmedabad-based company has a total installed capacity of 236.73 MW. Let us tell you that Company Saubhagya Yojana, Kusum Yojana and Saur Sujala Yojana are some of the government initiatives under which Ganesh Green Bharat Limited has successfully completed projects. The company also designs, builds, installs, operates and maintains water supply projects such as Har Ghar Jal (Water Jeevan Mission) and the Chief Minister Nischaya Samuthya Akhtar Yojana.