Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
HDFC Bank has secured approximately 1.58 lakh shares worth Rs 3 crore in the anchor round of the Ganesh Green Bharath IPO, with shares priced at Rs 190 each.
The IPO, which recently opened for subscription, has also attracted other notable investors like Copthall Mauritius Investment, India Equity Fund, and Craft Emerging Market Fund.
This investment marks another instance of HDFC Bank participating in the anchor round of an SME IPO. Earlier this year, the bank invested in the ABS Marine Services IPO, acquiring about 3.4 lakh shares.
The growing interest of institutional investors in SME IPOs highlights their increasing mainstream appeal.
The Ganesh Green Bharath IPO saw significant interest, being subscribed 7.39 times within hours on its first day, with bids for 3.49 crore shares against 47.33 lakh shares on offer.
In the unlisted market, the company's shares are in high demand, commanding a premium of Rs 200, more than double the issue price.
The IPO, entirely a fresh equity issue of 65.91 lakh shares priced at Rs 190 at the upper end, allows investors to bid for 600 shares in one lot and multiples thereafter.
The funds raised will be used for debt repayment, capital expenditure, working capital requirements, and general corporate purposes.
Ganesh Green Bharath operates across various sectors, providing services in solar systems, electrical contracting, water supply projects, and manufacturing solar photovoltaic modules.
The company's in-house engineering and design capabilities enable it to offer diverse products and solutions across these categories.
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