Greenhitech Ventures IPO oversubscribed on day 1 on strong retail interest; know GMP, subscription status, other details
₹50 for each, with a face value of ₹10. Three thousand shares are included in each IPO lot. Five times the face value is the issue price.
The company supplies different industrial groups with a variety of petroleum-based products based on their requirements. This covers, among other things, bitumen, furnace oils, light density oils, and biofuels. Furthermore, the corporation contracts with government-owned ethanol factories to do maintenance and operating services.
Provide fuel and alternative material users in India with commercial services and solutions. According to the prospectus, there are no listed businesses in India that work as jobworkers in the ethanol production industry or deal in biofuels. The promoters of the firm are Naved Iqbal and Muhammad Nadeem.
On Thursday, April 18, it is tentatively scheduled to finalise the Greenhitech Ventures IPO basis of share allotment. The shares will be credited to the allottees' demat accounts on the same day, Friday, April 19, and the company will begin processing refunds. On Monday, April 22, Greenhitech Ventures IPO shares are most likely to go live on BSE SME.
Greenhitech Ventures IPO subscription status is 8.28 times, on day 1, so far. The retail portion was subscribed 13.99 times, and NII portion was booked 2.57 times. The company has received bids for 98,88,000 shares against 11,94,000 shares on offer, at 14:05 IST, according to data on chittorgarh.com.
Greenhitech Ventures IPO, which is worth about ₹6.30 crore, consists of a fresh issue of 1,260,000 equity shares with a face value of ₹10. There is no offer-for-sale component. The net funds are to be used for the following purposes: to fulfill the needs for working cash and regular company costs.
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