Ganesh Green Bharat provides comprehensive portfolios in the field of supply, installation, testing and commissioning (SITC) of solar and electrical goods and services to various government bodies.
| Bidding Dates |
|---|
| 05 Jul 2024 - 09 Jul 2024 |
| Subscription |
|---|
| 213.9x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,08,600 | 1 | 1 | 600 | 6.6 M | ₹181 - ₹190 | 73.42 % | ₹1193.0 M - ₹1252.3 M | RHP DOC |
Ganesh Green Bharat IPO SUBSCRIPTION STATUS
09 Jul '24Ganesh Green Bharat IPO overall subscription rate was 213.9 times the total available shares
Ganesh Green Bharat IPO retail subscription rate was 231.51 times in the retail segment
Ganesh Green Bharat IPO non-institutional investor subscription rate was 616.34 times in the non-institutional investor category
Ganesh Green Bharat IPO Qualified Institutional Bidder subscription rate was 80.84 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
09 Jul 2024 (Day 3) | 231.51x | 616.34x | 80.84x |
08 Jul 2024 (Day 2) | 70.3x | 38.31x | 6.3x |
05 Jul 2024 (Day 1) | 23.63x | 10.97x | 3.03x |
Ganesh Green Bharat 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 |
| FY24 | 218.3 | 1,701.7 | 1.7 | -111.6 | 20.4% |
| FY23 | 81.6 | 902.0 | -23.7 | -30.8 | 15.2% |
| FY22 | 52.1 | 1,055.4 | -84.6 | -95.9 | 8.1% |
Ganesh Green Bharat IPO SUBSCRIPTION STATUS DETAILS
Ganesh Green Bharat had 6.6 M shares on offer
Ganesh Green Bharat IPO offer price was in the range ₹181 - ₹190
Ganesh Green Bharat IPO minimum Investment was ₹108600
Ganesh Green Bharat IPO issue size was ₹ 1193.0 M - ₹ 1252.3 M
Ganesh Green Bharat had a minimum lot size of 600 Shares per application
Ganesh Green Bharat NUMBER OF SHARES ON OFFER
Ganesh Green Bharat IPO IMPORTANT DATES
| Issue Open Date | 05 Jul 2024 |
| Issue close Date | 09 Jul 2024 |
| Allotment Date | 10 Jul 2024 |
| Refund Date | 11 Jul 2024 |
| Demat Account Credit Date | 11 Jul 2024 |
| Listing Date | 12 Jul 2024 |
| Listing on Exchange(s) | NSE |
| Ganesh Green Bharat Allotment Status | Exchange |
Ganesh Green Bharat IPO subscription opened on 05 Jul 2024, and closed on 09 Jul 2024
IPO allotment for Ganesh Green Bharat was finalized on Wednesday, 10 Jul 2024
IPO listing for Ganesh Green Bharat was on NSE on Friday, 12 Jul 2024
Ganesh Green Bharat IPO LISTING GAINS
| Issue Price (adjusted) | 190.0 |
| Listing Open Price | 361.0 |
| Listing Close Price | 379.1 |
| Listing Gain% | 90.0% |
| Current Gain% | 22.2% |
Ganesh Green Bharat 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ganesh Green Bharat Ltd. | 232.1 | 575.6 | 7.7 | 0.1 | 0.5 | 26.8 | 15.4 | 1067.6 | 231.8 | 75.2 | 148.8 | 30.3 | 148.8 |
| Adani Power Ltd. | 205.2 | 395818.4 | 27.8 | 1.9 | 6.7 | 19.8 | 9 | 57865.3 | -1.8 | 12834.3 | -0.8 | 7.4 | 14.9 |
| NTPC Ltd. | 340 | 329686.6 | 11.9 | 0.7 | 1.7 | 13.3 | 4.8 | 189798.6 | -0.6 | 27052.5 | 15.5 | 28.6 | 15.9 |
| Power Grid Corporation of India Ltd. | 266 | 247442.6 | 15.6 | 5.1 | 5.3 | 15.8 | 5.4 | 47684.4 | 0.5 | 15928 | 2.6 | 17.1 | 3 |
| Adani Energy Solutions Ltd. | 1616 | 197629.4 | 67.7 | 3.1 | 6.5 | 9 | 2.4 | 28325.2 | 15.9 | 2282.5 | 115.3 | 23.9 | 21.8 |
| Tata Power Company Ltd. | 382 | 122077.9 | 31.6 | -6.5 | 1.9 | 9.5 | 2.1 | 64171.7 | -4.2 | 3747.2 | -5.6 | 12.1 | -4.8 |
Ganesh Green Bharat INFORMATION ON IPO ISSUE
About Ganesh Green Bharat
Ganesh Green Bharat provides comprehensive portfolios in the field of supply, installation, testing and commissioning (SITC) of solar and electrical goods and services to various government bodies.
Object of the Issue
- 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 - PROMOTERS
| Name |
|---|
| Ketanbhai Narsinhbhai Patel |
| Nirav Sureshbhai Patel |
| Rajendrakumar Narsinhbhai Patel |
| Shilpaben Ketanbhai Patel |
Ganesh Green Bharat Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Ganesh Green Bharat Registrar to the issue
Kfin Technologies Private Limited
ggbl.ipo@kfintech.com
Ganesh Green Bharat Strengths
Diversified range of solutions
The company's diversification of revenue across multiple industries allows it to prevent any possible customer concentration in any of the categories. This strategy helps it to increase revenue streams, improve margins, and minimize business risk
Well-poised
The company is well-poised to capitalize on the opportunities in the industry and initiatives taken by the Government of India, creating value for all of the stakeholders involved, in the process
Order book
As of March 31, 2024, the company's order book includes 10 work orders under solar system & allied services aggregating to Rs 273.3 crore, 7 work orders under electrical contracting services aggregating to Rs 26.6 crore, 1 work order under water supply scheme projects for an aggregate value of Rs 14.4 crore
Ganesh Green Bharat Risks
Limited experience
The company has limited experience in the business of manufacturing solar PV modules and there is no assurance that it will be able to maintain or increase its revenue from operations in the long term
Dependent on few states
The company derives a significant portion of its revenue from certain states and failure to expand the operations into new geographic regions and markets may restrict its growth and adversely affect the business
Dependent on few projects
The company is significantly dependent on EPC projects in electrical contracting services and solar system & allied services. An inability to ensure quality delivery or a reduction in the demand of these projects may adversely impact the revenue from operations and growth prospects
IPO FAQs
The promoters of the company are Ketanbhai Narsinhbhai Patel, Nirav Sureshbhai Patel, Rajendrakumar Narsinhbhai Patel and Shilpaben Ketanbhai Patel.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 181.0 - 190.0.
The IPO application opens on Jul 05, 2024 and closes on Jul 09, 2024.
The minimum lot size for the IPO is 600. The maximum lot size for the IPO is 600.
For all category investors, the minimum application amount for this IPO is Rs. 108,600.0, the maximum value for this IPO is Rs 114,000.0.
This IPO will be allotted on Jul 10, 2024.
The refund will be credited to your account on Jul 11, 2024.
The allotted shares will be credited to your demat on Jul 11, 2024.
Ganesh Green Bharat Ltd.’s shares listed on the stock exchanges on Jul 12, 2024.