Greenhitech Ventures off to a flyer, lists at 90% premium on BSE SME- Grow Mudra

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Greenhitech Ventures off to a flyer, lists at 90% premium on BSE SME

22 Apr , 2024 By : Debdeep Gupta

Greenhitech Ventures off to a flyer, lists at 90% premium on BSE SME

Shares of Greenhitech Ventures made a bumper market debut on April 22, listing at Rs 95 on the BSE SME platform, a premium of 90 percent over the issue price of Rs 50.

The listing gains top the grey market estimates where shares were trading at a premium of 84 percent.

The Rs 6.3-crore public offer was a fresh issue of 12.6 lakh shares. The company proposes to use the proceeds for fulfilling working capital requirements and general corporate purposes.

Greenhitech Ventures, established in November 2011, specializes in trading a range of petroleum-based products customized to meet diverse industry requirements, such as biofuels, bitumen, and furnace oils. Additionally, the company is involved in the operation and maintenance of ethanol manufacturing within government-owned distilleries.

The public offer was subscribed a staggering 769.95 times for three days of the subscription period. The retail portion was subscribed 597.41 times, and the NII portion was booked 921.60 times.

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