Ganesh Green India’s Initial Public Offering (IPO) has garnered extraordinary interest, with subscriptions reaching 229.92 times the offer size.
This overwhelming response underscores strong investor confidence in the company’s prospects.
Strong Grey Market Performance
In the grey market, Ganesh Green India’s shares are trading at a significant premium of over 125 percent above the IPO price of Rs 190 per share.
This indicates robust demand and suggests potential for substantial gains upon listing.
At the IPO price of Rs 190 per share, Ganesh Green India’s stock is trading at Rs 240 in the grey market,
reflecting a premium of more than 125 percent.
This premium suggests optimistic expectations for the stock’s performance upon its listing on July 12, 2024,
on the SME platform of the National Stock Exchange.
Company’s Shares at a Premium of 125%
The IPO price for Ganesh Green India’s shares is Rs 190, but in the grey market, they are commanding a premium of Rs 240.
This premium translates to more than 125 percent, suggesting high expectations for immediate gains post-listing.
High Subscription Rates
Investor enthusiasm was evident with the IPO oversubscribed by 229.92 times. Retail investors showed keen interest, subscribing 176.88 times, while non-institutional investors betted a staggering 470.44 times.
Qualified Institutional Buyers (QIBs) also showed strong interest, subscribing 154.50 times.
Promoters’ Stake Adjustment
Prior to the IPO, the promoters held 100 percent of the company’s shares,
which will now reduce to 73.42 percent post-listing.
