Greenhitech Ventures consists of a fresh issue of 12,60,000 shares worth INR 50 each, totaling INR 6.30 crores. The company intends to use the funds to meet working capital requirements and general corporate purposes.
Greenhitech Ventures Ltd IPO – Important Dates
| Greenhitech Ventures IPO Date | April 12, 2024 to April 16, 2024 |
| Greenhitech Ventures IPO Listing Date | April 22, 2024 |
| Greenhitech Ventures IPO Price | INR 50 per share |
| Greenhitech Ventures IPO Lot Size | 3000 shares |
| Greenhitech Ventures IPO Total Issue Size | INR 630 lakhs |
| Greenhitech Ventures IPO Basis of Allotment | April 18, 2024 |
| Greenhitech Ventures IPO Initiation of Refunds | April 19, 2024 |
| Greenhitech Ventures IPO Credit of Shares to Demat | April 19, 2024 |
| Greenhitech Ventures IPO Issue Type | Fixed Price Issue IPO |
| Greenhitech Ventures IPO Listing At | BSE, SME |
Greenhitech Ventures IPO – Company Profile
Greentech Ventures is a dynamic trading firm specializing in petroleum-based products, including biofuels, bitumen, and light-density oils. Additionally, they excel as job workers in ethanol production, offering top-notch operation and maintenance services in government-owned distilleries across India.
They specialize in ethanol production in collaboration with government-owned distilleries, transitioning from private to public entities. Based in Varanasi, Uttar Pradesh, the company focuses on efficiency, innovation, and biofuel supply, and it is particularly renowned in the Purvanchal region.
They are a vital player in biofuel supply, adhering to government standards for biodiesel blending. With expertise in ethanol production operation and maintenance, it maintains strong customer relationships and technological drive, catering to industry demand.
Greenhitech Ventures Limited IPO Review
Greenhitech Ventures Technologies’ financial analysis reveals a mixed performance. Revenue initially increased, but it later fell short. Profitability declined notably, although equity showed consistent growth. The return on net worth decreased, suggesting varying company performance aspects.
1. Revenue Trend: The revenue decreased from ₹6,611.58 lakhs in March 2022 to ₹2,504.35 lakhs in March 2023. The revenue for the current year’s 10-month period ending January 2024 is INR 335.67 lakhs, falling short of last year’s benchmark.
2. Equity and Liabilities: Equity has shown a consistent increase over the periods, reflecting potential growth and expansion.
3. Profitability: The profit after tax (PAT) has significantly decreased from ₹135.54 lakhs in March 2022 to ₹35.64 lakhs by January 2024. This decline in profitability could be a source of concern for investors.
4. Earnings per Share (EPS): The diluted EPS have fallen from ₹168.93 in March 2022 to ₹1.06 by January 2024, reflecting lower earnings per share for investors.
5. Return on Net Worth (RoNW): The RoNW has decreased from 41.91% to 7.80%, indicating a decrease in the company’s ability to generate returns on shareholder equity.
6. Financial Position: Total assets have increased, suggesting potential business growth.
Greenhitech Ventures Ltd IPO Fundamental Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 31 January 2023 |
| Revenue (₹ in lakhs) | 6,611.58 | 2,504.35 | 335.67 |
| Equity (₹ in lakhs) | 322.45 | 315.45 | 456.64 |
| Expenses (₹ in lakhs) | 6,383.21 | 2,406.72 | 287.82 |
| Profit and Loss After Tax (₹ in lakhs) | 135.14 | 57.23 | 35.64 |
| Diluted EPS only (₹) | 168.93 | 71.53 | 1.06 |
| Return on Net Worth (%) | 41.91 | 18.14 | 7.80 |
| NAV per Equity Share (₹) | 3,224.47 | 3,154.50 | 13.27 |
| Total Assets (in lakhs) | 3,188.77 | 2,708.06 | 2,677.75 |
| Total Liabilities (in lakhs) | 2,866.32 | 2,392.6 | 2,221.11 |
| Current Ratio (in times) | 1.13 | 1.21 | 1.23 |
Greenhitech Ventures Limited IPO Peer Comparison
There are no listed companies in India that are engaged in the business of ethanol manufacturing as job workers and Trading of Biofuels. Accordingly, it is not possible to provide a comparison of the accounting ratios of the industry with Greenhitech Ventures Limited.
Greenhitech Ventures Limited IPO Objective
The main objective of Greenhitech Ventures is to meet working capital requirements.
- To Meet Working Capital Requirements: The company aims to utilize INR 4.50 crores from the Net Proceeds of the Issue to meet its working capital requirements, supplementing the remainder with borrowings as needed aligning with the dynamic demands of the business.
- General Corporate Purposes: The company will use the balance fund of 85 lakhs towards general corporate goals, including business growth. Additionally, in line with Board policies, the remaining Net Proceeds will be flexibly allocated for various operational needs and unforeseen difficulties.
Greenhitech Ventures IPO Risks And Challenges
Greenhitech Ventures’ risks include disruptions in biofuel supply, growth hindered by shortages, and price hikes impacting financials. The transition to ethanol manufacturing shifts focus, historical data may not predict the future, and compliance challenges post-incorporation.
- Supplier failures in biofuel delivery disrupt their processes, impacting timely order fulfillment and quality. Shortages or interruptions due to natural or other factors hinder growth. Supplier price hikes adversely affect their financials and operations.
- The company’s focus has shifted from biodiesel trading to ethanol manufacturing. Agreements with key entities highlight this shift. Due to this diversification, historical financials may not accurately forecast future projections.
- Recent incorporation poses compliance challenges with the Companies Act. Pending transfer of loans from NBFCs/Banks and registration updates with statutory departments may lead to delays. Non-compliance risks penalties, impacting financial, operational performance, and reputation.
Greenhitech Ventures IPO – Industry & Market Potential
India’s energy demand is set to double by 2040, driving significant petroleum consumption growth. It is the second-largest oil refiner in Asia, with private companies owning 35% of refining capacity. LNG imports and natural gas consumption are projected to rise sharply.
Rapid economic growth drives increased oil demand for production and transportation. India’s crude oil consumption is projected to double by 2040. Diesel and petrol account for the majority of oil demand, and natural gas consumption is also set to rise sharply.
Ethanol demand rises due to changing lifestyles and fuel needs. Government policies support blending ethanol with petrol. COVID-19 impact boosts hand sanitizer demand. India’s ethanol market is segmented by source, purity, and application, with South India driving growth. Major players focus on innovation and expansion.
Greenhitech Ventures Ltd IPO – Type of Offer
Greenhitech Ventures consists of a fresh issue of 12,60,000 shares of INR 50, each totaling INR 6.30 crores. The company intends to use the funds to meet working capital requirements and general corporate purposes.
Greenhitech Ventures IPO Offer Size
The offer size of Greenhitech Ventures is INR 6.30 crores, which is a fresh issue of 12,60,000 shares. The company seeks funds to meet working capital requirements.
Greenhitech Ventures IPO Allotment Structure
Greenhitech Ventures Limited’s IPO allotment structure includes a category for Retail Individual Investors (RII) with investments below ₹2 lakhs, a category for other investors exceeding ₹2 lakhs, and a reservation of 66,000 shares for Market Makers.
- Retail Individual Investors (RII): These individual investors apply for shares with a total value of less than Rs.2 lakhs.
- Other than retail individual investors: Such applications where the value exceeds INR 2 lakhs.
- Market Makers Reservation: A certain percentage or number of shares is reserved for market makers. The company has set aside 12,60,000 shares for this purpose.
How to apply for a Greenhitech Ventures Limited IPO?
To apply for the Greenhitech Ventures IPO through Alice Blue, you would typically follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Greenhitech Ventures IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Greenhitech Ventures IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check Greenhitech Ventures’s IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Greenhitech Ventures IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Greenhitech Ventures IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended that you contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Greenhitech Ventures IPO:
● Registrar’s Website: Visit the website of Skyline Financial Services Private Limited, the registrar of the Greenhitech Ventures IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● BSE SME: You can also check the allotment status on the official websites of the Bombay Stock Exchange (BSE) Small Medium Enterprise (SME). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Greenhitech Ventures Ltd IPO Offer Registrar
The registrar for the Greenhitech Ventures Limited IPO is Skyline Financial Services Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153, A, 1st Floor, Okhla Industrial Area,
Phase-I, New Delhi – 110020, Delhi, India
Tel No: 011-40450193-97
E-mail Id: [email protected]
Website: www.skylinerta.com
Greenhitech Ventures Limited IPO – FAQs
The allotment date of the Greenhitech Ventures Limited IPO is April 18, 2024.
The price band of the issue is INR 50 per share.
The offer size of Greenhitech Ventures is INR 6.30 crores, which is a fresh issue of 12,60,000 shares. The company seeks funds to meet working capital requirements.
The listing date of Greenhitech Ventures ‘ IPO is April 22, 2024.
