Ganesh Green Bharat IPO Allotment Today: How to Check Status and GMP
The Ganesh Green Bharat IPO has sparked widespread interest among investors. This IPO, which was open for public subscription from July 5 to July 9, generated a blockbuster response, with approximately 230 times the number of subscribers. But what makes this IPO unique, and what should investors know about it?
Company Background
Ganesh Green Bharat Limited, founded in April 2016, is an electrical contracting company. The company specializes in the supply, installation, testing, and commissioning (SITC) of solar and electrical items and services for various government agencies. Ganesh Green Bharat has developed a great reputation for providing high-quality services and creative renewable energy solutions throughout the years.
IPO Details
The Ganesh Green Bharat IPO was open for subscriptions from July 5 to July 9, 2024. The price band was fixed between Rs 181 and Rs 190 per share, with 65.91 lakh shares issued fresh. Investors were needed to apply for a minimum of 600 equity shares, resulting in a minimum investment of Rs 1,14,200 for retail investors at the highest price band.
IPO Subscription and Response
The IPO received a huge response from all investment groups. The quota for non-institutional investors was subscribed 470.44 times, retail individual investors (RIIs) 176.88 times, and qualified institutional buyers (QIBs) 154.50 times. On the last day of bidding, the Rs 135.23-crore IPO received bids for 1,01,21,49,000 shares versus 44,02,200 shares on offer, achieving 229.92 times subscription.
IPO Allotment Process
The allotment of shares is expected to be finalized today, Wednesday, July 9, 2024. Investors can check their allotment status through Kfin Technologies Ltd’s portal by following these steps:
- Visit Kfin Technologies Ltd’s portal.
- Select ‘Ganesh Green Bharat Ltd’ from the drop-down list.
- Choose among ‘application number’, ‘demat account’, or ‘PAN number’.
- Enter the relevant details and Captcha.
- Click on the ‘Search’ button to view the allotment status.
Post-Allotment Procedures
Once the allotment is finalized, investors will begin getting bank debit notices, most likely in the evening. Ganesh Green Bharat’s shares are planned to be launched on the NSE SME on July 12, 2024.
Grey Market Premium (GMP).
The Grey Market Premium (GMP) is an important indication of investor mood. Currently, the unlisted shares of Ganesh Green Bharat Ltd are selling Rs 240 higher on the grey market than the issue price, indicating a 126.32% predicted listing increase. The GMP represents investors’ willingness to pay more than the issue price, based on market sentiment.
Financial performance of the company.
Ganesh Green Bharat Ltd has demonstrated excellent financial growth. In the fiscal year 2023-24, the company’s sales increased by 89.82%, while profit after tax (PAT) increased by 167.67%. This impressive achievement demonstrates the company’s strong market position and development prospects.
Investment Considerations:
Investors must apply for at least 600 equity shares, which equates to a minimum investment of Rs 1,14,200 at the higher price range. While the IPO offers enticing profits, it is critical to examine the related risks, which include market volatility and sector-specific problems.
Lead Managers and Registrars
Hem Securities Limited is the book-running lead manager for the Ganesh Green Bharat IPO, guaranteeing a seamless execution and adherence to regulatory standards. The issue’s registrar is Kfin Technologies Limited, which handles the allotment and related activities.
Market Maker
Market makers play an important role in keeping the stock market liquid and stable. Hem Finlease is the market maker for the Ganesh Green Bharat IPO, assuring sufficient trading volume and price stability for the shares.
Government Contracts and Projects
Ganesh Green Bharat Ltd has successfully completed a number of projects for government entities, including SITC for solar and electrical items. These projects demonstrate the company’s skill and dependability in providing top-tier services to government clients.
Future Prospects
Ganesh Green Bharat Ltd’s future seems good, as the company wants to grow its market presence and incorporate innovative technologies into its operations. The company’s focus on innovation and sustainability positions it well for future growth.
Investor sentiment and market trends
The enormous response to the IPO demonstrates great investor trust in Ganesh Green Bharat Ltd. Market trends, such as the increased emphasis on renewable energy and government efforts, help to strengthen the company’s growth potential.
Conclusion
The Ganesh Green Bharat IPO has received a lot of attention and investor interest, indicating that the company has excellent foundations and potential for growth. With remarkable financial performance and promising future prospects, this IPO represents a lucrative opportunity for investors.
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