IPO Details

Bidding Dates

05 Jul '24 - 09 Jul '24

Minimum Investment

₹114,000 / 1 Lot ( 600 Shares)

Price Range

₹181 - ₹190

Maximum Investment

₹114,000 / 1 Lot ( 600 Shares)

Retail Discount

To be announced

Issue Size

₹125.23 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investors  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Jul 5, 2024

IPO Close Date

Jul 9, 2024

Basis of Allotment

Jul 10, 2024

Initiation of Refunds

Jul 11, 2024

Credit of Shares to Demat

Jul 11, 2024

Listing Date

Jul 12, 2024

Cut-off time for UPI mandate confirmation

Jul 9, 2024

About Ganesh Green Bharat Limited

Incorporated in April 2016, Ganesh Green Bharat Limited is an Electrical Contracting Service company specialising in the supply, installation, testing, and commissioning (SITC) of solar and electrical goods and services for various government bodies.

The company has successfully completed projects under significant government schemes, including the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna. Additionally, Ganesh Green Bharat has expanded its expertise to designing, building, installing, operating, and maintaining water supply projects such as the Mukhya Mantri Nishchay Quality Affected Yojna and Har Ghar Jal (Jal Jeevan Mission).

As of March 31, 2024, the company's Order Book consists of 10 work orders for Solar System and allied Services, 7 work orders for Electrical Contracting Services, and 1 work order for Water Supply Scheme Projects. The company employs 10 engineers, supported by third-party consultants and industry experts, who ensure compliance with industry and government standards.

Ganesh Green Bharat's clientele includes government departments across eight states, such as the Gujarat Industrial Development Corporation (GIDC), Ahmedabad Municipal Corporation (AMC), and Rajasthan Renewable Energy Corporation Limited (RRECL).

The company also sells Solar PV modules to private sector organisations. As of March 31, 2024, Ganesh Green Bharat Limited had a workforce of approximately 39 employees and contract labourers at its project sites.

Industry Outlook:

  1. India's renewable power capacity grew at 15.92% annually from FY16-22, expected to double by 2026.
  2. India's energy demand is projected to reach 15,820 TWh by 2040, with renewables playing a crucial role.

Ganesh Green Bharat Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Repayment in full or in part, of certain of the outstanding borrowings;
  2. Funding Capital Expenditure towards the installation of additional plant and machinery at the factory
  3. Funding to meet working capital requirements
  4. General Corporate Purpose

Peer Details

The following are the listed industry peers of Ganesh Green Bharat Limited:

  1. Solex Energy Limited
  2. Waaree Renewable Technologies Limited
  3. Zodiac Energy Limited

How to Check the Allotment Status of the Ganesh Green Bharat Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.

Contact Details of Ganesh Green Bharat Limited IPO

  • Registered office: F-202. S.G. Business Hub, S.G. Highway, Ahmedabad-382470 Gujarat India
  • Phone: +91-79-29703080
  • E-mail: cs@ganeshgreen.com

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Total Revenue (in ₹ lakh) 5926.49 450.10 -
Profit After Tax (PAT) (in ₹ lakh) 747.94 (123.59) (28.54)
Cash & Cash Equivalents (in ₹ lakh) 61.59 44.83 52.39
Net Worth (in ₹ lakh) 598.84 (149.14) (27.54)
Debt Equity Ratio (x) 0.91 0.78 0.83
Return on Equity (%) 46.42% 26.18% 21.28%
Return on Capital Employed (RoCE) (%) 29.98% 21.70% 18.83%
Diluted Earning Per Share (EPS)-in absolute ₹ 2493.12 (471.39) (285.45)

Know before investing

Strengths

7

  1. Diversified solutions in renewable energy, water supply, and electrical contracting.

  2. Core competency in EPC projects and Solar PV module manufacturing.

  3. Strong government support with schemes like PLI and Atmanirbhar Bharat.

  4. Significant growth with revenue from operations reaching ₹ 17,017.02 lakhs.

  5. Extensive experience in government projects like Saubhagya and KUSUM schemes.

  6. In-house design team of 10 engineers ensures quality project execution.

  7. Robust order book with projects worth ₹ 31,397.57 lakhs.

Risks

6

  1. Rising raw material and labour costs may adversely affect business.

  2. Project delays could lead to the termination of EPC agreements.

  3. Heavy reliance on in-house designing and engineering teams.

  4. Projects awarded through a competitive government bidding process.

  5. Limited control over fluctuating prices of essential materials.

  6. Potential delays in project approvals from government authorities.

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Ganesh Green Bharat IPO FAQs

What is Ganesh Green Bharat Limited's IPO?

Ganesh Green Bharat Limited’s IPO is a book-built issue IPO. It will be open from July 5, 2024, to July 9, 2024.

When will Ganesh Green Bharat Limited's IPO be allotted?

The Basis of Allotment will happen on Wednesday, July 10, 2024.

When will Ganesh Green Bharat Limited's IPO open for subscription?

The IPO subscription window will open on July 5, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 600 shares.

When will Ganesh Green Bharat Limited list on exchanges?

The listing date for Ganesh Green Bharat Limited is July 12, 2024.

How do I check the allotment status of the Ganesh Green Bharat Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.

What would be the listing gains on the Ganesh Green Bharat Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Ganesh Green Bharat Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Ganesh Green Bharat Limited IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Ganesh Green Bharat Limited using one PAN?

You can submit only one application using your PAN card.