The SME IPO of Greenhitech Ventures opened for subscription on Friday and will close on April 16. The company aims to raise about Rs 6.3 crore through the SME IPO and list the shares on BSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
1) About Greenhitech Ventures
The company is engaged in trading of various petroleum-based products for the different categories of industries based on their requirements. This includes supply of biodiesel and light density oils. It is also engaged in operation and maintenance as a job worker for Ethanol manufacturing in government owned distilleries.
2) Industry overview
The oil and gas industry is expected to attract $25 billion investment in exploration and production by 2022. India is already a refining hub with 23 refineries, and expansion is planned for tapping foreign investment in export-oriented infrastructure, including product pipelines and export terminals.India’s crude oil production in FY23 stood at 29.2 MMT.The IPO is entirely a fresh equity issue of 12.6 lakh shares and through the issue, the company aims to raise nearly Rs 6.3 crore.
4) Greenhitech Ventures IPO price band
The company is offering its shares at Rs 50 apiece, and investors can bid for 3000 shares in 1 lot.
5) Greenhitech Ventures IPO financial performance
For the period ended January 2024, the company clocked revenues of Rs 3.35 crore and net profit of Rs 35 lakh.
Also Read: BofA buys stake in Vijay Kedia-backed TAC Security post stellar IPO debut
6) Objects of the offer
The net proceeds from the public offer will be used for working capital requirements, general corporate purposes and public issue expenses.
7) Lead managers and Registrar
Beeline Capital Advisors is acting as the lead manager to the issue and Skyline Financial Services is the registrar.
8) Issue structure
About 50% of the offer is reserved for retail investors and the rest 50% for other investors.
9) Important dates
The IPO opened on April 12 and will close on April 16. The final allotment will likely be made on April 18. The company’s shares will likely get listed on April 22.The company’s shares have a GMP of Rs 15 in the unlisted market.
