Shares of Greenhitech Ventures made a bumper market debut on April 22, listing at Rs 95 on the BSE SME platform, a premium of 90 percent over the issue price of Rs 50.
The listing gains top the grey market estimates where shares were trading at a premium of 84 percent.
The Rs 6.3-crore public offer was a fresh issue of 12.6 lakh shares. The company proposes to use the proceeds for fulfilling working capital requirements and general corporate purposes.
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Greenhitech Ventures, established in November 2011, specializes in trading a range of petroleum-based products customized to meet diverse industry requirements, such as biofuels, bitumen, and furnace oils. Additionally, the company is involved in the operation and maintenance of ethanol manufacturing within government-owned distilleries.
Also read: Teerth Gopicon lists at 12% premium to issue price on NSE SME
The public offer was subscribed a staggering 769.95 times over the course of three days of the subscription period. The retail portion was subscribed 597.41 times, and NII portion was booked 921.60 times.
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