Ganesh Green Bharat Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Ganesh Green

CMP

481.90

-1.75 (-0.36%)

  • DRHP
₹190

Offer Price

₹ 125.23 Cr

Issue Size

₹ 1,14,000

Min Investment

600

Lot size

Time Line

  • 05
    Jul 2024
    Open
  • 09
    Jul 2024
    Close
  • 10
    Jul 2024
    Finalisation of Basis of Allotment
  • 11
    Jul 2024
    Initiation of Refunds
  • 11
    Jul 2024
    Transfer of Shares to Demat Account
  • 12
    Jul 2024
    Listing Date

Objects of the Offer

  • Increasing the size of its projects and its pre-qualification.

  • Implement strategic backward integration through Expansion of operations into manufacturing of Solar PV modules.

  • Expansion of its geographical footprint.

  • Continue to enhance its core strengths by attracting, retaining and training qualified personnel and process up gradation.

  • Cost effective production and timely fulfilment of orders.

Products & Services

  • The group has diversified its business as service provider into multiple verticals.

Strengths

  • The Company offers a diversified range of solutions.

  • Leverage its capabilities to capture strong industry tailwinds and growth prospects for solar energy.

  • In house designing and execution team and established track record.

  • Order Book of projects across India.

  • Experienced Promoters and senior management team.

Risks

  • The company bid for projects funded by the Central and State Governments and derive its revenues from the work orders awarded to it. Any reduction in budgetary allocation to its industry sector may affect the number of projects that the government authorities/bodies may plan to develop in a particular period. Its business is directly and significantly dependent on projects awarded by them.

  • Its projects are awarded through the competitive bidding process by government authorities/bodies. The company may not be able to qualify for, compete and win future projects, which could adversely affect its business and results of operations.

  • The company relies on its in-house designing and engineering team for project execution. Loss of employee(s) may have an adverse effect on the execution of its projects.

  • Its business is working capital intensive. If the company experience insufficient cash flows to meet required payments on its working capital requirements, there may be an adverse effect on the results of its operations.

  • Its Order Book may not be representative of the company future results and its actual income may be significantly less than the estimates reflected in its Order Book, which could adversely affect the company`s results of operations.

Company Promoters

Promoters Holding

Issue For IPO
25.18%
Pre Holding

94.73%

Post Holding

69.55%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2024 3-Yr trend
Revenue 105.54 (-) 90.20 (-14.50%) 170.17 (88.70%)
Gross Profit 105.54 (-) 90.20 (-14.50%) 170.17 (88.70%)
Net Income 105.54 (-) 90.20 (-14.50%) 170.17 (88.70%)
Assets 105.54 (-) 90.20 (-14.50%) 170.17 (88.70%)
Liabilities 105.54 (-) 90.20 (-14.50%) 170.17 (88.70%)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Solex Energy Ltd 161.71 2.71 140.78 140.78 7.20 3.39 47.03 1.92 1.75
Waaree Renewables Technologies Ltd 350.96 55.42 282.68 282.68 65.09 26.63 40.84 19.60 0.46
Zodiac Energy Ltd 137.66 3.19 94.71 94.71 8.84 2.18 24.64 3.36 1.25

Book Running Managers

  • Hem Securities Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

F 202 S G Business Hub,
S G Highway,
Ahmedabad - 382470
Phone : +91 79 2790 3080 Email : cs@ganeshgreen.com www.ganeshgreen.com

Offer Related Information

Initial public offer of upto 65,91,000 equity shares of face value of Rs. 10/- each (the "Equity Shares") of Ganesh Green Bharat Limited ("The Company" or "GGBL" or "The Issuer") at an issue price of Rs. 190 per equity share for cash, aggregating up to Rs. 125.23 crores ("Public Issue") out of which 3,31,200 equity shares of face value of Rs. 10 each, at an issue price of Rs. 190 per equity share for cash, aggregating Rs. 6.29 crores will be reserved for subscription by the market maker to... More

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