ENA MSME 2024-07-12 16:06:22 <p><span style="font-size:14px"><strong>New Delhi, Jul 12 (KNN)</strong> Ganesh Green Bharat Limited, an electrical contracting service company, made a strong debut on the National Stock Exchange's Small and Medium Enterprises (NSE SME) platform on July 12.</span></p> <p><span style="font-size:14px">The company's shares opened at Rs 361, marking a 90 per cent premium over the initial public offering (IPO) price of Rs 190 per share.</span></p> <p><span style="font-size:14px">The Rs 125-crore IPO, which consisted of a fresh issue of 65.91 lakh shares, saw robust investor interest during its three-day subscription period.</span></p> <p><span style="font-size:14px">The offer was oversubscribed 229.92 times, with non-institutional buyers leading the demand at 470.44 times. Qualified institutions and retail investors also showed significant interest, with subscription rates of 154.50 and 176.88 times, respectively.</span></p> <p><span style="font-size:14px">Despite the strong listing, the opening price fell short of grey market expectations, where shares were reportedly trading at a 123 per cent premium.</span></p> <p><span style="font-size:14px">The grey market, an unofficial trading platform, often serves as an indicator of investor sentiment prior to official listing.</span></p> <p><span style="font-size:14px">Ganesh Green Bharat Limited, established in 2016, specialises in providing services such as supply, installation, testing, and commissioning of solar and electrical goods for various government entities.</span></p> <p><span style="font-size:14px">The company has completed projects under several government initiatives, including the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna.</span></p> <p><span style="font-size:14px">The company intends to utilise the net proceeds from the IPO for multiple purposes, including the repayment of certain outstanding borrowings, capital expenditure for additional plant and machinery installation at its factory, meeting working capital requirements, and general corporate purposes.</span></p> <p><span style="font-size:14px">This successful listing underscores the growing investor interest in the renewable energy sector and government-backed infrastructure projects in India.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38575 https://knnindia.co.in/news/newsdetails/msme/ganesh-green-bharat-limiteds-ipo-surges-90-on-nse-sme-debut 2024-07-12 16:06:22 knnindia.co.in