IPO Details
Bidding Dates
05 Jul 24 - 09 Jul 24
Price Range ₹
181 - 190
Total Equity
₹ 125.23Cr
Lot Size
600
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
05 Jul 2024
Offer end
09 Jul 2024
Allotment
10 Jul 2024
Refund initiation
11 Jul 2024
Demat transfer
11 Jul 2024
Listing
12 Jul 2024
Offer start
05 Jul 2024
Offer end
09 Jul 2024
Allotment
10 Jul 2024
Refund initiation
11 Jul 2024
Demat transfer
11 Jul 2024
Listing
12 Jul 2024
About Company
Incorporated in April 2016, Ganesh Green Bharat Limited is an electrical contracting service company. The company provides a range of services, including the supply, installation, testing, and commissioning (SITC) of solar and electrical goods and services to various government bodies. Ganesh Green Bharat Limited has completed projects under several government schemes, such as the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna. Additionally, the company has expanded into designing, building, installing, operating, and maintaining water supply projects, including the Mukhya Mantri Nishchay Quality Affected Yojna and Har Ghar Jal (Jal Jeevan Mission). As of March 31, 2024, the company's order book includes: - 10 work orders for solar system and allied services - 7 work orders for electrical contracting services - 1 work order for water supply scheme projects The company employs a team of 10 engineers, supported by third-party consultants and industry experts, to ensure compliance with industry and government standards. Ganesh Green Bharat Limited's clients include government departments from eight states, such as the Gujarat Industrial Development Corporation (GIDC), Ahmedabad Municipal Corporation (AMC), and Rajasthan Renewable Energy Corporation Limited (RRECL), among others. The company also sells solar PV modules to private sector organizations. As of March 31, 2024, Ganesh Green Bharat Limited had around 39 employees and contract labor at its project sites.
Year Founded
13-05-2019
Promotor Details
Ketanbhai Narsinhbhai Patel
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 73.42 |
| Share Capital | 18210000 | 18210000 |
Offer to Public
65,91,000.00 Cr
Project Details
- Funding Capital Expenditure towards installation of additional plant and machinery at our factory - 30.386cr
- Repayment in full or in part, of certain of our outstanding borrowings - 130cr
Objectives
- Repayment in full or in part, of certain of our outstanding borrowings
- Funding Capital Expenditure towards installation of additional plant and machinery at our factoryFunding to meet working capital requirementsGeneral Corporate Purpose.
Highlights
- The company offers a wide range of solutions and leverages its capabilities to capitalize on strong industry tailwinds and growth opportunities in the solar energy sector.
- With an in-house design and execution team, along with experienced promoters and senior management, the company ensures successful project delivery and a solid track record.
- The company has a substantial order book with projects spanning across India, reflecting its extensive reach and market presence.
- Plans for strategic backward integration by expanding operations into the manufacturing of Solar PV modules and increasing project size and pre-qualifications are in place.
- The company maintains stable financial performance, focuses on cost-effective production, and ensures timely fulfillment of orders. It also aims to enhance core strengths by attracting, retaining, and training qualified personnel and upgrading processes.
Challenges
- The company relies heavily on projects funded by the Central and State Governments. Any reduction in budgetary allocations to its industry sector could significantly impact the number of projects available, directly affecting the company's business.
- Projects are awarded through a competitive bidding process. The company may face challenges in qualifying for, competing, and winning future projects, which could adversely affect its business and operational results.
- The business is working capital intensive. Insufficient cash flows to meet working capital requirements could negatively impact the company's operational results.
- The company's order book may not accurately represent future results. Actual income could be significantly lower than estimates, adversely affecting the company's financial performance.
- The company has not fully complied with certain provisions of the Companies Act, 2013. Discrepancies in corporate records and potential penalties or actions by regulatory authorities could impact the company's reputation and financial position. Additionally, qualifications in the statutory auditor's report and reliance on a peer-reviewed chartered accountant for restated financial statements add to the regulatory risks.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2023 | 8,770.77 | 120.00 | 815.57 | 815.57 | 4.5309 |
| 2022 | 8,824.96 | 120.00 | 520.75 | 520.75 | 2.8931 |
