The Greenhitech Ventures IPO is set to open for subscription from April 12 to April 16, 2024. The IPO is valued at Rs 6.30 crore and consists solely of fresh shares, totaling 12.6 lakh. The company operates and maintains ethanol manufacturing in government-owned distilleries.
Despite a revenue drop from Rs 66.12 crores in 2022 to Rs 25.04 crores in 2023, the IPO price per equity share is fixed at Rs 50. The IPO is slated to list on the BSE.
5 points to know about Greenhitech Ventures IPO
Company Profile: Greenhitech Ventures Limited was founded in November 2011 and sells petroleum products like biofuels and furnace oils. They help run ethanol production in government-owned distilleries. Based in Varanasi, India, they offer fuel and alternative materials to businesses nationwide, emphasizing effectiveness and efficiency.
Issue Size: Greenhitech Venture Limited IPO, featuring a face value of Rs 10 each, consists of a fresh issue totaling Rs. 6.30 crore, and the total share offered is 12,60,000 out of which offered to the public is 5,97,000. The issue price is fixed at Rs. 50 per equity share.
Company’s financials: In 2023, the company generated a total revenue of Rs. 25.04 crores, marking a decrease from the previous year’s revenue of Rs. 66.12 crores in 2022. The profit has decreased from Rs. 135.14 crore in 2022 to Rs. 57.23 in 2023.
Fund Managers: Beeline Capital Advisors Pvt Ltd is overseeing the Greenhitech Ventures IPO as the lead manager, and Skyline Financial Services Private Ltd is handling the registration process. Spread X Securities is the market maker for the IPO.
Purpose: The funds generated from the IPO will primarily be allocated towards meeting the company’s working capital requirements, ensuring smooth operations and sustained growth. Additionally, a portion of the proceeds will be utilized for covering general corporate expenses necessary for the company’s overall functioning and development.
Ever wondered if there was a simple and effective way of identifying multibagger stocks in 2024. You can learn here
Disclaimer: The above content is for informational purposes only. Please consult a SEBI-registered investment advisor before investing in market-linked instruments.
