Greenhitech Ventures IPO Overview

Greenhitech Ventures IPO Overview/Company' website

VoM News Desk | April 15, 2024 | 04:37 PM IST | Breaking News | Follow on Google News

Greenhitech Ventures IPO Overview

Greenhitech Ventures IPO Overview

Greenhitech Ventures IPO subscription commenced on April 12 and closes on April 16, offering shares at ₹50 each with a face value of ₹10. The company specializes in supplying various petroleum-based products to industrial groups, including bitumen, furnace oils, and biofuels, along with maintenance services for government-owned ethanol factories.

Subscription Status and Details

As of day 2, the IPO subscription stands at an impressive 69.78 times, with robust demand from retail and non-institutional investors. The IPO, worth around ₹6.30 crore, consists solely of a fresh issue of 1,260,000 equity shares, with no offer-for-sale component.

IPO Review and Grey Market Premium

While the IPO has garnered significant interest, some analysts caution about the company’s competitive market and fluctuating financial performance. The Grey Market Premium (GMP) currently stands at +25, indicating a premium of ₹25 per share. Despite this, investors are advised to carefully evaluate the company’s financials before making investment decisions.

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