Greenhitech Ventures share price lists with stellar gains of 90% ,at ₹95 a piece on the BSE SME

Greenhitech Ventures share price saw a stellar listing on the BSE SME as it opened at ₹95, indicating strong 90% listing gains for the Investors  

The IPO had opened for subscription on 12 April, 2024 and closed on 16 April, 2024.

The Investors had been anticipating strong opening and significant listing gains as was evident from Grey Market premium and subscription numbers.

Greenhitech Ventures IPO subscription was subscribed 769.95 times by day 3. The subscription status for retail portion stood at strong 597.41 times, while NII portion was subscribed 921.60 times.

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The grey market premium, or GMP, for Greenhitech Ventures' IPO stood at +42 according to investorgain.com.  This showed that the price of Greenhitech Ventures shares were selling at a premium of ₹42 in the Grey market.

Assuming the upper end of the IPO pricing range and the present premium on the gray market taken into account, Greenhitech Ventures anticipated that its IPO listing price was expected at ₹92 per share, 84% more than the IPO price of ₹50.

A "grey market premium" denotes the willingness of investors to part with more money than the issue price.

The price Band  of Greenhitech Ventures IPO was set at ₹50 for each share having a face value of ₹10 . Investors had to make minimum bid for 3000 shares and multiple thereafter.

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Depending on their needs, Greenhitech Ventures provides a range of petroleum-based goods to various industrial groupings.

This includes bitumen, light density oils, furnace oils, and biofuels, among other things. In addition, Greenhitech Ventures contracts for operational and maintenance services from government-owned ethanol facilities.

Greenhitech Ventures also provide commercial services and solutions to Indian consumers for fuel and alternative materials.

The Net Proceeds from the Greenhitech Ventures IPO are proposed to be used for meeting the working capital requirements of the company and also for the general corporate expenses.

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