Greenhitech Ventures IPO is a fixed price issue of Rs 6.30 crores. The issue is entirely a fresh issue of 12.6 lakh shares.
Greenhitech Ventures IPO opens for subscription on April 12, 2024 and closes on April 16, 2024. The allotment for the Greenhitech Ventures IPO is expected to be finalized on Thursday, April 18, 2024. Greenhitech Ventures IPO will list on BSE SME with tentative listing date fixed as Monday, April 22, 2024.
Greenhitech Ventures IPO price is ₹50 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹150,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹300,000.
Greenhitech Ventures IPO Details
| IPO Date | April 12, 2024 to April 16, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹50 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 1,260,000 shares (aggregating up to ₹6.30 Cr) |
| Fresh Issue | 1,260,000 shares (aggregating up to ₹6.30 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 3,440,000 |
| Share holding post issue | 4,700,000 |
| Market Maker portion | 66,000 shares Spread X Securities |
Greenhitech Ventures IPO Reservation
Greenhitech Ventures IPO offers 1,260,000 shares. 597,000 (47.38%) to NII, 597,000 (47.38%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 66,000 (5.24%) |
| Other Shares Offered | 597,000 (47.38%) |
| Retail Shares Offered | 597,000 (47.38%) |
| Total Shares Offered | 1,260,000 (100%) |
Greenhitech Ventures IPO Timeline (Tentative Schedule)
Greenhitech Ventures IPO opens on April 12, 2024, and closes on April 16, 2024.
| IPO Open Date | Friday, April 12, 2024 |
| IPO Close Date | Tuesday, April 16, 2024 |
| Basis of Allotment | Thursday, April 18, 2024 |
| Initiation of Refunds | Friday, April 19, 2024 |
| Credit of Shares to Demat | Friday, April 19, 2024 |
| Listing Date | Monday, April 22, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 16, 2024 |
Greenhitech Ventures IPO Lot Size
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹150,000 |
| Retail (Max) | 1 | 3000 | ₹150,000 |
| HNI (Min) | 2 | 6,000 | ₹300,000 |
| Lot Size Calculator | |||
Greenhitech Ventures IPO Promoter Holding
The promoters of the company are Mr. Naved Iqbal and Mr. Mohammad Nadeem
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.19% |
About Greenhitech Ventures Limited
Incorporated in November 2011, Greenhitech Ventures Limited trades various petroleum-based products tailored to diverse industry needs, including biofuels, bitumen, and furnace oils.The company actively engages in the operation and maintenance of ethanol manufacturing in government-owned distilleries.
Greenhitech Ventures Limited is a non-governmental company that provides business solutions to consumers of fuels and alternative materials across India.The company is well-known in the Purvanchal belt of Uttar Pradesh, India, and emphasizes “Effective, Efficient, and Economical” principles in all its services and supplies.
The company’s main office is located in Jawahar Nagar Colony, Bhelupura, Varanasi.
As on January 31, 2024 the Company employs 68 people including KMPs on payroll.
Greenhitech Ventures Limited Financial Information (Restated)
| Period Ended | 31 Jan 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,677.75 | 2,708.06 | 3,188.77 | 2,378.58 |
| Revenue | 335.67 | 2,504.35 | 6,611.58 | 4,007.69 |
| Profit After Tax | 35.64 | 57.23 | 135.14 | 24.39 |
| Net Worth | 456.64 | 315.45 | 322.45 | 140.99 |
| Reserves and Surplus | 112.64 | |||
| Total Borrowing | 431.71 | 347.07 | 150.14 | 114.60 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Greenhitech Ventures IPO is Rs 23.5 Cr.
KPI as of January 31, 2024.
| KPI | Values |
|---|---|
| ROE | 8.17% |
| ROCE | 17.19% |
| Debt/Equity | 0.95 |
| RoNW | 7.80% |
| P/BV | 3.77 |
| PAT Margin (%) | 10.62 |
Check Greenhitech Ventures IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.66 | 0.91 |
| P/E (x) | 30.05 | 54.95 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of January 31, 2024 that is available in RHP.
Objects of the Issue (Greenhitech Ventures IPO Objectives)
The Net Proceeds are proposed to be used in accordance with the details provided in the following
- To Meet Working Capital Requirement
- General Corporate Expenses
Greenhitech Ventures IPO Review (Avoid)
[Dilip Davda] The company is operating in competitive environment. For the reported periods it posted inconsistency in its top and bottom lines. It marked lower top and bottom lines for FY24 so far. Based on annualized FY24 earnings, the issue appears exorbitantly priced. Small equity base post-IPO indicates longer gestation for migration to mainboard. There is no harm in skipping this pricey bet. Read detail review…
Greenhitech Ventures IPO Subscription Status (Bidding Detail)
The Greenhitech Ventures IPO is subscribed 14.49 times on April 12, 2024 4:23:04 PM (Day 1). The public issue subscribed 23.03 times in the retail category, [.] times in the QIB category, and 5.96 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 5.96 | 5,97,000 | 35,58,000 |
| Retail | 23.03 | 5,97,000 | 1,37,46,000 |
| Total | 14.49 | 11,94,000 | 1,73,04,000 |
Total Application : 6,454
*Market Maker portion is not included to NII/HNI.
Greenhitech Ventures Limited Contact Details
Greenhitech Ventures Limited
B27/92 K1 Jawahar Nagar Colony
Bhelupura
Varanasi- 221010
Phone: +91-9336875025
Email: info@greenhitech.org
Website: https://www.greenhitech.org/
Greenhitech Ventures IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php