Greenhitech Ventures, incorporated on November 18, 2011, engages in the trading of various petroleum-based products tailored to different industries' requirements. Its offerings encompass a spectrum of products, including biofuels, bitumen, light-density oils, and furnace oils. Additionally, the company operates and maintains ethanol manufacturing as a job worker in government-owned distilleries.
| Bidding Dates |
|---|
| 12 Apr 2024 - 16 Apr 2024 |
| Subscription |
|---|
| 729.67x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,50,000 | 1 | 1 | 3000 | 1.3 M | ₹50 | 70.64 % | ₹63.0 M | RHP DOC |
Greenhitech Ventures IPO SUBSCRIPTION STATUS
16 Apr '24Greenhitech Ventures IPO overall subscription rate was 729.67 times the total available shares
Greenhitech Ventures IPO retail subscription rate was 566.11 times in the retail segment
Greenhitech Ventures IPO non-institutional investor subscription rate was 893.23 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
16 Apr 2024 (Day 3) | 566.11x | 893.23x | - |
15 Apr 2024 (Day 2) | 139.35x | 67.07x | - |
12 Apr 2024 (Day 1) | 23.78x | 6.21x | - |
Greenhitech Ventures FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 10MFY24 | 4.1 | 47.5 | -15.7 | -15.9 | - |
| FY23 | 5.7 | 250.4 | -8.0 | -13.3 | 6.2% |
| FY22 | 13.5 | 661.2 | -6.3 | -14.6 | 3.9% |
| FY21 | 2.4 | 400.7 | -15.9 | -41.0 | 1.6% |
Greenhitech Ventures IPO SUBSCRIPTION STATUS DETAILS
Greenhitech Ventures had 1.3 M shares on offer
Greenhitech Ventures IPO offer price was ₹50
Greenhitech Ventures IPO minimum Investment was ₹150000
Greenhitech Ventures IPO issue size was ₹ 63.0 M
Greenhitech Ventures had a minimum lot size of 3000 Shares per application
Greenhitech Ventures NUMBER OF SHARES ON OFFER
Greenhitech Ventures IPO IMPORTANT DATES
| Issue Open Date | 12 Apr 2024 |
| Issue close Date | 16 Apr 2024 |
| Allotment Date | 18 Apr 2024 |
| Refund Date | 19 Apr 2024 |
| Demat Account Credit Date | 19 Apr 2024 |
| Listing Date | 22 Apr 2024 |
| Listing on Exchange(s) | BSE |
| Greenhitech Ventures Allotment Status | Exchange |
Greenhitech Ventures IPO subscription opened on 12 Apr 2024, and closed on 16 Apr 2024
IPO allotment for Greenhitech Ventures was finalized on Thursday, 18 Apr 2024
IPO listing for Greenhitech Ventures was on BSE on Monday, 22 Apr 2024
Greenhitech Ventures IPO LISTING GAINS
| Issue Price (adjusted) | 50.0 |
| Listing Open Price | 95.0 |
| Listing Close Price | 99.8 |
| Listing Gain% | 90.0% |
| Current Gain% | -20.0% |
Greenhitech Ventures Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Greenhitech Ventures Ltd. | 40 | 18.8 | 69.1 | -0.8 | 0.5 | 0.7 | 0.6 | 37.8 | 92.9 | 0.8 | -50.1 | 0.6 | -81.9 |
| Adani Enterprises Ltd. | 3020 | 408730.2 | 54.9 | 3.3 | 3.7 | 11.5 | 3.6 | 102943.2 | 2.6 | 9339.5 | 31.6 | 55 | 16.7 |
| Redington Ltd. | 354.8 | 27741.3 | 16.3 | 4 | 0.2 | 14.7 | 4.4 | 119347.4 | 19.9 | 1490.2 | -7.1 | 21.8 | 4.1 |
| Lloyds Enterprises Ltd. | 83.5 | 12611.6 | 44.5 | 0.1 | 7.2 | 6.8 | 3.9 | 2183.7 | 39 | 283.4 | 396.5 | 1.9 | 396.5 |
| Swan Corp Ltd. | 308 | 9656 | 35.2 | -0.6 | 2.2 | 3.6 | 2 | 5143.5 | -25.3 | 274.1 | -63.7 | 8.7 | -63.7 |
| MMTC Ltd. | 64 | 9597 | 24.8 | 0.1 | 2814.4 | 18.3 | 13.8 | 180.6 | -31.3 | 387.4 | 347.2 | 2.6 | 347.2 |
Greenhitech Ventures INFORMATION ON IPO ISSUE
About Greenhitech Ventures
Greenhitech Ventures, incorporated on November 18, 2011, engages in the trading of various petroleum-based products tailored to different industries' requirements. Its offerings encompass a spectrum of products, including biofuels, bitumen, light-density oils, and furnace oils. Additionally, the company operates and maintains ethanol manufacturing as a job worker in government-owned distilleries.
Object of the Issue
- To meet working capital requirement
- General corporate purpose
Greenhitech Ventures - PROMOTERS
| Name |
|---|
| Naved Iqbal |
| Mohammad Nadeem |
Greenhitech Ventures Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
Greenhitech Ventures Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Greenhitech Ventures Strengths
Scalable business model
The company's business model is order-driven and focuses on optimizing the utilization of its existing resources. This approach has demonstrated success and scalability in recent financial years
Timely fulfilment of orders
The company has implemented various measures to ensure timely fulfillment and enhance cost efficiency at its existing unit
Eco-friendly products
The company is dedicated to promoting renewable green energy and fostering sustainable development of renewable natural resources. It achieves this by adopting environmentally-friendly technologies that contribute to the net reduction of greenhouse gas emissions
Greenhitech Ventures Risks
Negative cash flows
The company has encountered negative cash flows in the past. Any recurrence of such negative cash flows in the future could potentially impact the business, operational results, and overall prospects
Seasonal business
The ethanol manufacturing business experiences some seasonality in the country, which can impact a portion of the revenue. Such seasonal fluctuations may influence the operating results
Outstanding legal proceedings
The company and its group companies are involved in outstanding legal proceedings. Adverse decisions in these proceedings could significantly impact the business, results of operations, and financial condition
IPO FAQs
The promoters of the company are Naved Iqbal and Mohammad Nadeem.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 50.0 - 50.0.
The IPO application opens on Apr 12, 2024 and closes on Apr 16, 2024.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 150,000.0, the maximum value for this IPO is Rs 150,000.0.
This IPO will be allotted on Apr 18, 2024.
The refund will be credited to your account on Apr 19, 2024.
The allotted shares will be credited to your demat on Apr 19, 2024.
Greenhitech Ventures Ltd.’s shares listed on the stock exchanges on Apr 22, 2024.