The Ganesh Green Bharat IPO, which was open for public subscription between July 5 and July 9, got a blockbuster response from investors receiving nearly 230 times subscription. Now, the IPO allotment is expected to be finalised today, Wednesday, July 9. Once the Ganesh Green Bharat IPO is allotted, investors will start receiving the bank debit message, probably in the evening. The investors can check the IPO allotment status on the registrar Kfin Technologies Ltd’s portal.
On the final day of bidding on July 9, the Rs 135.23-crore IPO received bids for 1,01,21,49,000 shares as against 44,02,200 shares on offer, thus getting 229.92 times subscription.
Once the IPO allotment is finalised today, Ganesh Green Bharat’s shares will likely be listed on the NSE SME on July 12.
Ganesh Green Bharat IPO: How To Check Allotment Status
Once the IPO is allotted, the status can be checked by following these steps:
Step 1: Kfin Technologies Ltd’s portal
Step 2: Select IPO from the drop-down list — ‘Ganesh Green Bharat Ltd’.
Step 3: Choose any one among — ‘application number’, ‘demat account’ or ‘PAN number’.
Step 4: Enter PAN number, application number or demat account number.
Step 5: Enter Captcha.
Step 6: Click on ‘Search’ Button
Now, your Ganesh Green Bharat IPO allotment status will be displayed on the screen.
Ganesh Green Bharat IPO GMP Today
According to market observers, unlisted shares of Ganesh Green Bharat Ltd are trading Rs 240 higher in the grey market as compared with its issue price. The Rs 240 grey market premium or GMP means the grey market is expecting a 126.32 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Ganesh Green Bharat IPO: More Details
The Ganesh Green Bharat IPO is entirely a fresh issue of 65.91 lakh shares. Its price band has been fixed at Rs 181 to Rs 190 per share.
On the final day of bidding, the quota for non-institutional investors received 470.44 times subscription, while retail individual investors (RIIs) portion got subscribed 176.88 times. The qualified institutional buyer (QIB) category received a 154.50 times subscription.
Investors need to apply for a minimum of 600 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,14,200 [600 (lot size) x Rs 190 (upper price band)].
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. The market maker for Ganesh Green Bharat IPO is Hem Finlease.
Ganesh Green Bharat Limited, established in April 2016, 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.
Ganesh Green Bharat Ltd’s revenue jumped 89.82 per cent and profit after tax (PAT) rose 167.67 per cent during the year ended 2023-24.
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