Active Stocks
Thu May 30 2024 14:43:54
  1. Tata Steel share price
  2. 164.70 -5.45%
  1. NTPC share price
  2. 357.85 -1.85%
  1. Tata Motors share price
  2. 927.65 -1.70%
  1. State Bank Of India share price
  2. 826.95 0.49%
  1. Wipro share price
  2. 436.70 -3.15%
Business News/ Markets / Stock Markets/  Greenhitech Ventures share price lists with stellar gains of 90% ,at 95 a piece on the BSE SME
BackBack

Greenhitech Ventures share price lists with stellar gains of 90% ,at ₹95 a piece on the BSE SME

Greenhitech Ventures share price lists with stellar gains of 90%, at ₹95 a piece on the BSE SME. The IPO had opened for subscription on April 12, 2024 and closed on April 16, 2024

Greenhitech Venture share price lists with stellar gains of 90%, at ₹95 a piece on the BSE SME. (https://www.greenhitech.org/)Premium
Greenhitech Venture share price lists with stellar gains of 90%, at 95 a piece on the BSE SME. (https://www.greenhitech.org/)

Greenhitech Ventures share price saw a stellar listing on the BSE SME as it opened at 95, indicating strong 90% listing gains for the Investors  

The IPO had opened for subscription on 12 April, 2024 and closed on 16 April, 2024.

The Investors had been anticipating strong opening and significant listing gains as was evident from Grey Market premium and subscription numbers.

Greenhitech Ventures IPO subscription was subscribed 769.95 times by day 3. The subscription status for retail portion stood at strong 597.41 times, while NII portion was subscribed 921.60 times.

Also Read-Upcoming IPOs: JNK India, Varyaa Creations and two other SME public issues scheduled for this week

The grey market premium, or GMP, for Greenhitech Ventures' IPO stood at +42 according to investorgain.com.  This showed that the price of Greenhitech Ventures shares were selling at a premium of 42 in the Grey market.

Assuming the upper end of the IPO pricing range and the present premium on the gray market taken into account, Greenhitech Ventures anticipated that its IPO listing price was expected at 92 per share, 84% more than the IPO price of 50.

A "grey market premium" denotes the willingness of investors to part with more money than the issue price.

The price Band  of Greenhitech Ventures IPO was set at 50 for each share having a face value of 10 . Investors had to make minimum bid for 3000 shares and multiple thereafter.

Also Read- Vodafone Idea FPO: Share price above GMP. What subscription status signal as bidding for 18,000 crore FPO ends today?

Depending on their needs, Greenhitech Ventures provides a range of petroleum-based goods to various industrial groupings.

This includes bitumen, light density oils, furnace oils, and biofuels, among other things. In addition, Greenhitech Ventures contracts for operational and maintenance services from government-owned ethanol facilities.

Greenhitech Ventures also provide commercial services and solutions to Indian consumers for fuel and alternative materials.

The Net Proceeds from the Greenhitech Ventures IPO are proposed to be used for meeting the working capital requirements of the company and also for the general corporate expenses.

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.

 

 

 

 

 

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 22 Apr 2024, 10:07 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started