One of the leading solar energy companies is going to offer its Initial Public Offering (IPO) this week. The company plans to raise Rs 125.23 crore through this IPO. The IPO opening is set on July 5 and will be closed on July 9. Let us tell you that the company works in the green energy sector. Know more details below.
Ganesh Green Bharat SME IPO: The initial public offering (IPO) of Ganesh Green Bharat, a company related to the energy sector, is opening on July 5 and closing on July 9. The company is planning to raise Rs 125.23 crore through this IPO. Let us tell you that Ganesh Green Bharat is a solar PV module manufacturer.
Solar Energy Company’s IPO Details
Ganesh Green Bharat SME is a leading solar PV module manufacturer bringing its IPO. The price band for the IPO is set as Rs 181-190 per share. According to multiple reports, the gray market premium for this IPO is Rs 190. This means the green energy share can be listed with double price at Rs 380. It shows a 100% premium, which is a great sign for generating profit. The shares will be listed on the NSE SME platform.
Also Read: Rs 8 Share Crossed Rs 800, Vijay Kedia Has Bought 58,00,000 Shares in This Company
Issuance of Fresh 65.91 Lakh Shares
Ganesh Green Bharat will issue fresh 65.91 lakh new shares on the stock exchange. The allotment offering will be on July 10 and listing of IPO is estimated in July. Hem securities is the lead manager of the Ganesh Green India IPO. At the same time, Kaffin Technologies Limited will be the registrar to issue.
The raised fund from the IPO will be used for capital expenses, installation of new machinery in the factory and partial repayment of debts.
About the company
Incorporated in 2916, Ganesh Green is a leading solar energy solutions provider. The company specializes in manufacturing and supplying solar PV modules, electrical contracting services and water supply services for projects. The company also designs, constructs, and installs water supply projects. Apart from that, it also provides operation and maintenance services for projects. Ganesh Green has handled several government initiatives like Har Ghar Jal (Jal Jeevan Mission) and Mukhyamantri Nischay Quality Affected Schemes etc.
Let us tell you that, the Ahmedabad based plant has a total installation capacity of 237 MW. The company has successfully completed several projects recently. It has also worked under government solar schemes like Saubhagya Yojana, Solar Yojana, Kusum Yojana etc.
Disclaimer: Dear readers, we’d like to inform you that we are not authorized by SEBI (Securities and Exchange Board of India). The information provided in this article is for educational purposes only and we do not recommend buying or selling any stocks. This information provided is only for reference purpose so we are not responsible in case investors incur any loss based on the information. We are here to provide timely updates about the stock market and financial products to help you make better investment choices. Always conduct your own research before making any investment decision or consult a financial advisor.