Greenhitech Venture Rockets Up 90%, Premieres at ₹95 on BSE SME

Greenhitech Ventures launched on BSE SME, listing at stellar Rs 95, 90% above the Rs 50 issue price. The Rs 6.3-crore IPO will fund working capital and corporate needs.
Greenhitech Venture Rockets Up 90%, Premieres at ₹95 on BSE SME

Greenhitech Ventures made a strong debut on the BSE SME platform on April 22, with shares listing at Rs 95, a 90% premium to the Rs 50 issue price. The Rs 6.3-crore offering of 12.6 lakh shares will fund working capital and general corporate needs.

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Over three days, the public offer was oversubscribed an impressive 769.95 times, with the retail portion hitting 597.41 times and the non-institutional investor (NII) segment reaching 921.60 times.

Greenhitech Ventures trades in petroleum products and excels in ethanol production and maintenance for government distilleries in India. Based in Varanasi, the company focuses on biofuel efficiency and innovation. Financially, the company has seen fluctuating revenues and profits but maintains strong industry relationships and continues to grow its equity amid challenging market conditions.

Greenhitech Ventures will allocate INR 4.50 crores from IPO proceeds for working capital and INR 85 lakhs for general corporate purposes, supporting growth and operational flexibility according to Board policies.

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