Greenhitech Ventures, a company that sells oil-based products, recently had its first sale of shares to the public, called an IPO.
People were really interested in investing in this company. The sale was open from April 12 to April 16, and on the last day, April 16, a lot of people wanted to invest.
They bought 91.94 crore shares, which is a huge amount compared to the 12.6 lakh shares the company was offering.
Who bought the shares?
Big investors and regular people both wanted to invest a lot. Big investors bought 942.6 times more shares than what was available, and regular people bought 597.41 times more.
Right from the start, the IPO was popular. On the second day, it was subscribed 103.8 times, and on the first day, it was 15 times.
What about the price?
Before the shares are officially listed, people can buy and sell them in what’s called the gray market.
Right now, people are willing to pay Rs 35 more than the official price of Rs 50 for each share.
So, it’s expected that when the shares are listed, they might start at Rs 85 each. That’s a 70% increase from the original price! The shares will be listed on April 22, 2024, on BSE SME.”
