08-Apr-2024
2 mins read
Greenhitech Ventures IPO is open for subscription starting Friday, April 12, 2024, and closing on Tuesday, April 16, 2024. The price of this upcoming IPO is decided at Rs 50 per share. The minimum lot size of this application for the retail category is 3000 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 6000 shares. The minimum amount of investment required for retail category investors is Rs 1,50,000 (50 x 3000 shares). However, for the HNI category, the minimum investment amount required is Rs 30,00,00 (50 x 6000 shares). Greenhitech Ventures IPO is a fixed price issue of Rs 6.30 crores. This upcoming IPO issue is completely a fresh issue of 12.6 lakh equity shares. The offer for sale component is not available in this issue. The allotment for this new IPO is expected to be finalised on Thursday, April 18, 2024. Greenhitech Ventures IPO will be listed on BSE SME, and the listing date is fixed on Monday, April 22, 2024. The book-running lead manager of Greenhitech Ventures IPO is Beeline Capital Advisors Private Limited. The registrar for this IPO is Skyline Financial Services Private Limited. The market maker of this issue is Spread X Securities.
About Greenhitech Ventures Limited
Greenhitech Ventures Limited, incorporated in 2011, trades various petroleum-based products. It is a non-government company that provides business solutions to consumers of fuels and alternative materials across India. The company is well known in Purvanchal belt of U.P India. The company caters industries in Mines, Logistics as well as in road construction. Greenhitech Ventures is actively engaged in the operation and maintenance of ethanol manufacturing in government owned distilleries. The company does not have its own manufacturing unit. They bid for tender of a government owned-distillery for operation and maintenance as a Job Worker for Ethanol manufacturing. Company’s understand the market needs and upgrade their team constantly with growing technology and market trends. Greenhitech Ventures main office is located in Jawahar Nagar Colony, Bhelupura, Varanasi. As of 31 January 2024, Company employees 68 people including KMPs on payroll.
Objectives of Greenhitech Ventures IPO
The funds received from this issue will be used to meet the W.C requirements of the company. Other than this, the remaining funds will be used for the general corporate purposes such as capital expenditure, financing and repayment of certain loans.
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Financials of Greenhitech Ventures Limited (Amt in Rs Lakhs)
Greenhitech Ventures posted a revenue of Rs 335.67 lakhs and profit after tax of Rs 35.64 lakhs for the period on 31 Jan 2024. However, for the period ending on 31 March 2023, the company posted a revenue of Rs 2,504.35 lakhs and PAT of 57.23 lakhs.
| Period Ended | 31-Jan-24 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| 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 | 114.6 |
Other Important Details of Greenhitech Ventures IPO
| IPO Date | April 12, 2024 to April 16, 2024 |
| Listing Date | 22-Apr-24 |
| Face Value | Rs 10 per share |
| Price | Rs 50 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 1,260,000 shares amounting to Rs 6.30 crore |
| Fresh Issue | 1,260,000 shares amounting Rs 6.30 crore |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 3,440,000 |
| Shareholding post issue | 4,700,000 |
| Market Maker portion | 66,000 shares |
Time-Table of Greenhitech Ventures IPO
| 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 | 5 PM on April 16, 2024 |
Lot Size of Greenhitech Ventures IPO
| Application | Lots | Shares | Amount |
| Retail - minimum | 1 | 3000 | Rs 150,000 |
| Retail - maximum | 1 | 3000 | Rs 150,000 |
| HNI - minimum | 2 | 6,000 | Rs 300,000 |
IPO Reservation of Greenhitech Ventures Limited
| Investor Category | Shares Offered |
| Retail | 50 percent of the Net issue |
| Others | 50 percent of the Net issue |
Key Performance Indicator of Greenhitech Ventures Limited IPO
| KPI | Values |
| ROE | 8.17% |
| ROCE | 17.19% |
| Debt/Equity | 0.95 |
| RoNW | 7.80% |
| P/BV | 3.77 |
| PAT Margin (%) | 10.62 |
EPS and P/E Ratio Post IPO
| Pre IPO | Post IPO | |
| EPS (Rs) | 1.66 | 0.91 |
| P/E (x) | 30.05 | 54.95 |
Promoters of Greenhitech Ventures Limited and Their Holdings
The promoters of Greenhitech Ventures company are Mr. Naved Iqbal and Mr. Mohammad Nadeem.
| Shareholding Pre Issue | 100 percent |
| Shareholding Post Issue | 73.19 percent |
Lead Manager(s) of Greenhitech Ventures IPO
The lead manager for Greenhitech Ventures IPO is Beeline Capital Advisors Private Limited.
How do you apply for the Greenhitech Ventures IPO?
Wait for the public issue to open for subscription, then click here to apply for the Greenhitech Ventures Limited IPO with Bigul.
How do you check the allotment status of Greenhitech Ventures IPO?
The registrar for Greenhitech Ventures IPO is Skyline Financial Services Private Limited. To check your allotment status, please click here.
FAQs
1. What is the Greenhitech Ventures IPO?
Greenhitech Ventures IPO is a book-built issue of Rs 44.40 crores. This upcoming IPO issue is completely a fresh issue of 40 lakh equity shares. The offer for sale component is not available in this issue. The price of this upcoming IPO is decided at Rs 111 per share. The minimum lot size of this application for the retail category is 1200 shares.
2. Who are the lead managers for the Greenhitech Ventures Limited IPO?
Beeline Capital Advisors Private Limited is appointed as the lead manager for the IPO.
3. What is the role of Skyline Financial Services Private Limited in this IPO?
Skyline Financial Services Private Limited is the registrar for Greenhitech Ventures Limited, handling the IPO's administrative aspects.
4. How can I apply for the Greenhitech Ventures IPO?
The public subscription of this new IPO will open on April 12, 2024. Click here to initiate the application process.
5. How will the net proceeds from the IPO be utilised?
The funds received from this issue will be used to meet the W.C requirements of the company. Other than this, the remaining funds will be used for the general corporate purposes such as capital expenditure, financing and repayment of certain loans.
6. How can I check the allotment status of the IPO?
Investors who applied can check the allotment status of the Greenhitech Ventures Limited IPO 2024 by visiting here.
7. What is the financial performance of Greenhitech Ventures Limited?
Greenhitech Ventures posted a revenue of Rs 335.67 lakhs and profit after tax of Rs 35.64 lakhs for the period on 31 Jan 2024. However, for the period ending on 31 March 2023, the company posted a revenue of Rs 2,504.35 lakhs and PAT of 57.23 lakhs.
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