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Ganesh Green Bharat IPO
Price Band
₹181.0–190.0
Issue Size
₹125.23 Cr
Lot Size
600 shares
Min Investment
₹114,000
GMP
+₹235.0 (123.68%)
Issue Price
₹190.0
Subject to Sauda
₹107200
Paid only if allotted
Ganesh Green Bharat IPO AI Summary
- Ganesh Green Bharat IPO is listed on NSE SME in the Other Electrical Equipment sector.
- Price band: ₹181.0–₹190.0 per share, lot size 600 shares (min. investment ₹114,000).
- Subscription window: 05 Jul–09 Jul 2024, listing on 12 Jul 2024.
- Current GMP is +₹235.0 (123.68%), an estimated listing price of ₹425 — unofficial and can change daily.
Ganesh Green Bharat Limited is poised for growth in the electrical contracting sector, particularly in solar and water supply projects. With a strong order book and significant revenue growth, the company aims to utilize the IPO proceeds for strategic expansions and debt repayment.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Ganesh Green Bharat IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 09 Jul 2024 — not a current signal.
Reviewers are split — see individual calls below.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Ganesh Green Bharat IPO Grey Market Premium (GMP) Today
GMP
+₹235.0
GMP %
+123.68%
Est. Listing
₹425.0
Updated: 25 Jul 2026 14:05
About the Company
Incorporated in April 2016, Ganesh Green Bharat Limited is an Electrical Contracting Service company. The company offers a range of services including the supply, installation, testing, and commissioning (SITC) of solar and electrical goods and services to various government bodies. The company has completed projects under various government schemes, such as the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna. Additionally, we have ventured into designing, building, installing, operating, and maintaining water supply projects like 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 & Allied Services 7 work orders for Electrical contracting services 1 work order for Water Supply Scheme Projects The company has a team of 10 engineers supported by third-party consultants and industry experts to ensure compliance with industry and government standards. The company's clients include government departments of eight states, such as Gujarat Industrial Development Corporation (GIDC), Ahmedabad Municipal Corporation (AMC), Rajasthan Renewable Energy Corporation Limited (RRECL), and several others. It also sells Solar PV modules to private sector organizations. As of March 31, 2024, the company had around 39 employees and contract labor at its project sites.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 150.30 | 87.86 | 88.36 |
| Total Income | 171.96 | 90.60 | 106.12 |
| Profit After Tax | 21.83 | 8.16 | 5.21 |
| NET Worth | 57.28 | 27.07 | 27.07 |
| Reserves and Surplus | 39.07 | 34.03 | 25.87 |
| Total Borrowing | 53.70 | 27.39 | 22.47 |
Key Ratios
EPS
₹11.99
NAV
₹31.46
ROE
46.42%
ROCE
29.98%
RoNW
34.72%
P/B Value
0.00
P/E Ratio
15.85
Market Cap
₹509.22 Cr
PAT Margin
11.69%
Debt/Equity
0.94
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Zodiac Energy Limited | 23.17% | 94.15 | 7.5 | 7.5 |
| Waaree Renewable Technologies Limited | 63.8% | 131.91 | 14.22 | 14.22 |
| Solex Energy Limited | 18.89% | 133.86 | 10.92 | 10.92 |
| Ganesh Green Bharat Limited This IPO | 34.72% | — | 10.92 | 10.92 |
Promoters
Ketanbhai Narsinhbhai Patel, Rajendrakumar Narsinhbhai Patel, Niravkumar Sureshbhai Patel and Shilpaben Ketanbhai Patel
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment in full or in part, of certain of the outstanding borrowings; 19.00 2 Funding Capital Expenditure towards installation of additional plant and machinery at the factory 11.52 3 Funding to meet working capital requirements 60.00 4 General Corporate Purpose 26.90
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income increased from ₹90.60 Cr for the period ending 31 Mar 2023 to ₹171.96 Cr by 31 Mar 2024, indicating a significant growth in revenue over this period.
Profit Trend
Profit after tax rose from ₹8.16 Cr for the period ending 31 Mar 2023 to ₹21.83 Cr by 31 Mar 2024, showcasing a strong improvement in profitability.
Valuation
At the issue price of ₹190, Ganesh Green Bharat Limited has an implied P/E ratio of 15.85 based on its EPS of ₹11.99. This is lower than its peers, which have P/E ratios ranging from 94.15 to 133.86.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected price movement of an IPO on its listing day compared to the issue price. A positive GMP suggests that the IPO is likely to list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance.
Who May Want to Wait
Conservative investors who prefer stable returns and lower volatility may want to avoid IPOs with high market fluctuations.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by market conditions, investor sentiment, and overall demand for the stock. Investors should be aware that high listing gains are not guaranteed.
This evaluation is generated from Ganesh Green Bharat's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Ganesh Green Bharat IPO GMP today?
Ganesh Green Bharat IPO GMP today is +₹235.0 (123.68%), indicating an estimated listing price of ₹425. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Ganesh Green Bharat IPO?
The price band of Ganesh Green Bharat IPO is ₹181.0–₹190.0 per share.
When does Ganesh Green Bharat IPO open and close?
Ganesh Green Bharat IPO opens on 05 July 2024 and closes on 09 July 2024.
When does Ganesh Green Bharat IPO list on the stock exchange?
Ganesh Green Bharat IPO listed on 12 July 2024 at ₹425.0.
What is the lot size for Ganesh Green Bharat IPO?
The lot size for Ganesh Green Bharat IPO is 600 shares, requiring a minimum investment of ₹114,000.
What is the price band for the IPO?
The price band for the IPO is ₹181.0 to ₹190.0.
What is the minimum investment required?
The minimum investment required is ₹114,000, which corresponds to a lot size of 600 shares.
When does the IPO open and close?
The IPO opens on July 5, 2024, and closes on July 9, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount of the IPO's listing price compared to its issue price.
When is the listing date?
The listing date for the IPO is July 12, 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
05 Jul 2024
Close
09 Jul 2024
Allotment
10 Jul 2024
Listing
12 Jul 2024
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