IPO

Ganesh Green Bharat Limited IPO

NSE SME

Listed On: Jul 12, 2024 at ₹ 361.0

₹ 228000 /1200 Shares
*Min Investment

Check Allotment

05 Jul, 2024

Open Date

09 Jul, 2024

Close Date

10 Jul, 2024

Allotment Date

12 Jul, 2024

Listing Date
Ganesh Green Bharat Limited IPO Issue Details
  • Issue Price ₹181-190 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 65,91,000 shares(aggregating up to ₹125.23 crore)
  • Fresh Share 65,91,000 shares(aggregating up to ₹125.23 crore)
  • Listing at NSE SME
  • List Price 361.0
  • Listing Date 2024-07-12
  • Lead Manager Hem Securities Limited
  • Registrar Kfin Technologies Limited
Market Lot Size

Investors can bid for a minimum of 600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)1600₹1,14,000
Retail(max)1600₹1,14,000
NII (min) 21,200₹2,28,000
Ganesh Green Bharat Limited IPO Reservation

Ganesh Green Bharat Limited IPO offers total 6,591,000 shares. Out of which 1,238,400 (18.79%) allocated to QIB, 929,400 (14.1%) allocated to NII,2,168,400 (32.9%) allocated to RII, NA (NA%) allocated to employees and 1,857,600 (28.18%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered1,857,600 (28.18%)
Market Maker Shares Offered331,200 (5.03%)
QIB Shares Offered1,238,400 (18.79%)
NII (HNI) Shares Offered929,400 (14.1%)
Retail Shares Offered2,168,400 (32.9%)
Total Shares Offered6,591,000 (100%)
Ganesh Green Bharat Limited IPO Documents
DRHP
RHP
Ganesh Green Bharat Limited IPO Details


Ganesh Green Bharat Limited IPO is an SME IPO, priced at ₹181-190 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 65,91,000 equity shares, aggregating up to ₹125.23 crores..

The IPO bidding window is open from Jul 5, 2024 to Jul 9, 2024. The allotment is expected to be finalized on Jul 10, 2024, and the tentative listing date is Jul 12, 2024.

The minimum lot size for Retail investors is 600 shares, with a minimum investment of ₹1,14,000. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,28,000.

Hem Securities Limited is acting as the lead manager to the issue. The registrar of the IPO is Kfin Technologies Limited, and Hem Finlease Private Limited will act as the market maker for this issue.

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Ganesh Green Bharat Limited IPO Subscription Analysis And Details
Retail
176.88x
Total
229.92x
As onQIB / NIIRetailTotal
Shares Offered / Reserved1,238,400 / 929,4002,168,4004,402,200
Day 1 05-07-24 06:00 PM
5.79 / 8.56 x18.86 x12.73 x
Day 2 08-07-24 06:00 PM
12.03 / 29.15 x54.94 x36.61 x
Day 3 09-07-24 06:00 PM
154.50 / 470.44 x176.88 x229.92 x
Total No of Applications
6,39,229
Ganesh Green Bharat Limited Valuations
EPS Pre IPO ₹11.99/-
EPS Post IPO ₹8.15/-
P/E Pre IPO 15.85
P/E Post IPO 23.33
ROE 46.42%
ROCE 29.98%
Debt/Equity 0.94
RoNW 34.72%
PAT Margin 11.69
Price to Book Value 0.00
Ganesh Green Bharat Limited Company Financials
In Lakhs
In Lakh
31-Mar-2431-Mar-2331-Mar-22
Assets15,029.828,786.058,835.50
Revenue17,196.489,059.5310,612.10
Profit After Tax2,183.02815.57520.75
Net Worth5,727.642,707.342,707.34
Reserves & Surplus3,906.643,402.912,587.34
Total Borrowing5,370.172,738.892,247.06
About Ganesh Green Bharat Limited Company

Incorporated in April 2016, Ganesh Green Bharat Limited is a provider of electrical contracting services. Among the numerous services offered to several government organizations include supply, installation, testing, and commissioning (SITC) of solar as well as electrical goods and services.

The company has executed projects under different government schemes, including the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna. We have also forayed into designing, building, installing, operating, and maintaining water supply projects such as Mukhya Mantri Nishchay Quality Affected Yojna, and Har Ghar Jal (Jal Jeevan Mission).

The Order Book of the company as of March 31, 2024, consists of:
10 work orders for Solar System & Allied Services
7 work orders for Electrical contracting services
1 work order for Water Supply Scheme Projects

The organization has 10 engineers supported by third-party consultants and industry experts to ensure industry and government compliance.

The company's clients include the government departments of eight states, such as Gujarat Industrial Development Corporation (GIDC), Ahmedabad Municipal Corporation (AMC), Rajasthan Renewable Energy Corporation Limited (RRECL), and many more. It also sells Solar PV modules to private sector organizations.

As of March 31, 2024, the company had approximately 39 employees and contract labor at its project sites.

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Ganesh Green Bharat Limited - Promoter(s)

Ketanbhai Narsinhbhai Patel, Rajendrakumar Narsinhbhai Patel, Niravkumar Sureshbhai Patel and Shilpaben Ketanbhai Patel

Pre Issue Share Holding : 100%

Post Issue Share Holding : 73.42%

Ganesh Green Bharat Limited IPO - Issue Objectives
1

Repayment in full or in part, of certain of the outstanding borrowings

2

Funding Capital Expenditure towards installation of additional plant and machinery at the factory

3

Funding to meet working capital requirements

4

General Corporate Purpose.

Ganesh Green Bharat Limited IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Ganesh Green Bharat Limited10.9210.92N/AN/A34.72N/AConsolidated
Solex Energy Limited10.9210.92N/A133.8618.89N/AConsolidated
Waaree Renewable Technologies Limited14.2214.22N/A131.9163.8N/AConsolidated
Zodiac Energy Limited7.57.5N/A94.1523.17N/AConsolidated

Notes:

  1. Market Price for the listed peer mentioned above is sourced from stock exchange data dated June 27, 2024, to compute the corresponding financial ratios.
  2. For Ganesh Green Bharat Limited, the current market price is taken as the issue price of the equity share.
  3. Further, the P/E Ratio is based on the current market price of the respective scrips.
  4. The EPS, NAV, RoNW, and Total Income of the company are taken as per the Restated Financial Statement for the Financial Year 2023-24, adjusted for the effect of the Bonus Issue.
  5. NAV per share is computed as the closing net worth divided by the closing outstanding number of paid-up equity shares, adjusted for the effect of the Bonus Issue.
  6. RoNW has been computed as net profit after tax divided by closing net worth.
  7. Net worth has been computed as specified in Regulation 2(1)(hh) of SEBI (ICDR) Regulations, 2018.
Contact Details

Ganesh Green Bharat Limited

F-202. S.G. Business Hub, S.G. Highway Ahmedabad-382470

+91-79-29703080

cs@ganeshgreen.com

https://ganeshgreen.com/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

ggbl.ipo@kfintech.com

https://kosmic.kfintech.com/ipostatus/