The shares of Greenleaf Envirotech made a weak stock market debut on October 9, listing at Rs 134.90 apiece on the NSE Emerge platform. This marks a discount of nearly 1 percent over the IPO price of Rs 136 apiece.
Ahead of listing, the unlisted shares of the company were trading flat at the IPO price at Rs 136 apiece, according to data on Investorgain.
About Greenleaf Envirotech IPO:
The company had launched its initial public offering to raise nearly Rs 22 crore through a fresh issue of shares worth Rs 17.82 crore and an offer for sale (OFS) of shares worth Rs 4.08 crore. The IPO price was set at Rs 136 apiece. Investors could bid for a lot of 1,000 shares and in multiples thereafter, with the minimum investment amount for retail individual investors being Rs 2.72 lakh.
Greenleaf Envirotech IPO subscription:
The IPO saw strong investor interest during its three days of public bidding, being subscribed nearly 4 times (384 percent) between September 30 and October 6. Non Institutional Investors booked their reserved portion more than 4 times, while retail investors subscribed the portion kept for them over 3.5 times.
About Greenleaf Envirotech:
Greenleaf Envirotech provides engineering, procurement, construction (EPC) and turnkey services for sewage and effluent treatment plants, runs a certified environmental lab for audits and testing, and supplies fire safety services with maintenance contracts.
How will the IPO proceeds be used?
The company aims to utilise the fresh issue proceeds for funding the purchase of civil machines, equipment and laboratory tools, along with repayment or prepayment of some loans. The proceeds will also be used for funding working capital requirements and general corporate purposes.
Follow all IPO news here.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
