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Business News/ Markets / Ipo/  Greenhitech Ventures IPO opens on April 12: Check price band, issue size, GMP and other details
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Greenhitech Ventures IPO opens on April 12: Check price band, issue size, GMP and other details

Greenhitech Ventures IPO will open for subscription on Friday, April 12, and close on Tuesday, April 16. The issue's price band has been set at ₹50 apiece of face value of ₹10 each.

Greenhitech Ventures IPO price band has been fixed at ₹50 apiece of face value of ₹10 each. (https://www.greenhitech.org/)Premium
Greenhitech Ventures IPO price band has been fixed at 50 apiece of face value of 10 each. (https://www.greenhitech.org/)

Greenhitech Ventures IPO price band has been fixed at 50 apiece of face value of 10 each. Greenhitech Ventures IPO will open for subscription on Friday, April 12, and close on Tuesday, April 16. Greenhitech Ventures IPO lot size consists of 3,000 shares. The issue price is 5 times of the face value.

The company trades a range of petroleum-based goods to various industry groups in accordance with their needs. Biofuels, bitumen, light density oils, furnace oils, and other supplies are included in this. The company also does operation and maintenance work as a contract laborer for government-owned distilleries that produce ethanol. offer commercial services and solutions to Indian users of fuels and other substitute materials.

Also Read: Grill Splendour Services Limited IPO: Price band set at 120 apiece; check GMP, issue details, more

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As per the prospectus, there are no listed companies in India that is engaged in business of ethanol manufacturing as jobworker and Trading of Biofuels.

The company's promoters are Muhammad Nadeem and Naved Iqbal.

Tentatively, Greenhitech Ventures IPO basis of allotment of shares will be finalised on Thursday, April 18. The company will initiate refunds on Friday, April 19, while the shares will be credited to the demat account of allottees on the same day. Greenhitech Ventures IPO shares are likely to be listed on BSE SME on Monday, April 22.

Greenhitech Ventures IPO Details 

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 intended use of the net proceeds is as follows: To meet general corporate expenses and working capital requirements.

The Greenhitech Ventures IPO's book running lead manager is Beeline Capital Advisors Pvt Ltd, and the registrar is Skyline Financial Services Private Ltd. Spread X Securities is the market maker for the Greenhitech Ventures IPO.

Also Read: Bharti Hexacom IPO shares to list on Friday; here's what latest GMP signals ahead of listing

Greenhitech Ventures IPO GMP today

Greenhitech Ventures IPO GMP or grey market premium is +8. This indicates Greenhitech Ventures share price were trading at a premium of 8 in the grey market, according to investorgain.com.

Taking into consideration the upper end of the IPO pricing band and the current premium on the grey market, Greenhitech Ventures' estimated listing price for its IPO was 58 per share, which is 16% higher than the IPO price of 50.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Ramdevbaba Solvent IPO announces price band at 80-85 apiece; issue to open on April 15

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 10 Apr 2024, 04:05 PM IST
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