New Delhi: Solar PV module maker Ganesh Green Bharat on Tuesday said it plans to raise Rs 125.23 crore through an initial public offering.
The company has fixed the price band at Rs 181-190 per share for the issue, which will open for public subscription on July 5-9. The company's shares will be listed on NSE SME platform Emerge, the company said in a statement.
At the upper end of the price band, the company will get up to Rs 125.23 crore.
The initial public offering (IPO) is a fresh issue of entirely 65.91 lakh shares, it said.
The IPO comprises 50 per cent of the net issue for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for the non-institutional investor segment.
The proceeds from the new issue will be used to reduce debt and fund capital expenditure for setting up additional plant and machinery at the factory.
In addition, the funds will also be used to meet working capital requirements and general corporate purposes.
Investors can bid for a minimum of 600 shares and in multiples thereof.
Established in April 2016, Ganesh Green India is into solar PV module manufacturing, electrical contracting services and water supply planning projects.
The Ahmedabad-based company has a total installed capacity of 236.73 MW.
For March 31, 2024, the company reported a consolidated total income of Rs 171.96 crore and profit after tax of Rs 21.83 crore.
The company has worked for various government departments including Gujarat Industrial Development Corporation, Ahmedabad Municipal Corporation and Rajasthan Renewable Energy Corporation Limited.
Hem Securities Limited is the sole book-running lead manager, while Kiffin Technologies is the registrar to the issue.
The company has fixed the price band at Rs 181-190 per share for the issue, which will open for public subscription on July 5-9. The company's shares will be listed on NSE SME platform Emerge, the company said in a statement.
At the upper end of the price band, the company will get up to Rs 125.23 crore.
The initial public offering (IPO) is a fresh issue of entirely 65.91 lakh shares, it said.
The IPO comprises 50 per cent of the net issue for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for the non-institutional investor segment.
The proceeds from the new issue will be used to reduce debt and fund capital expenditure for setting up additional plant and machinery at the factory.
In addition, the funds will also be used to meet working capital requirements and general corporate purposes.
Investors can bid for a minimum of 600 shares and in multiples thereof.
Established in April 2016, Ganesh Green India is into solar PV module manufacturing, electrical contracting services and water supply planning projects.
The Ahmedabad-based company has a total installed capacity of 236.73 MW.
For March 31, 2024, the company reported a consolidated total income of Rs 171.96 crore and profit after tax of Rs 21.83 crore.
The company has worked for various government departments including Gujarat Industrial Development Corporation, Ahmedabad Municipal Corporation and Rajasthan Renewable Energy Corporation Limited.
Hem Securities Limited is the sole book-running lead manager, while Kiffin Technologies is the registrar to the issue.
