IPO Market: These days the IPO market is buzzing. From the year 2023 itself, many small and big companies have launched their IPOs in the stock market. They have also received strong response from investors in the market. This is the reason why mainboard and SME IPOs are coming in the year 2024 also. Today we are going to tell you about the IPO of a company which has created a stir in the market. People liked the IPO of this company so much that it was subscribed 730 times. In this way, the IPO of a green high tech company has got its name written in history.
Petroleum Products Trader Company is Green Hi Tech Ventures
Varanasi based Green Hi Tech Ventures is a petroleum products trader company. The last date for investing in the company's IPO was 16 April. It was opened for subscription on 12 April. According to the BSE website, the company had floated 12.6 lakh equity shares in the IPO. But, the enthusiasm of the investors was so much that they placed bets on its 91.94 crore equity shares. It had been subscribed 729.67 times by investors till the last day.
Institutional and non-institutional investors subscribed 942.6 times
Institutional and non-institutional investors have invested the most money in this IPO. They have subscribed this IPO 942.6 times. Retail investors have subscribed it 597.41 times. The IPO of Green High Tech Ventures started getting a strong response from investors from the very first day. It was subscribed 15 times on the first day and 103.8 times on the second day. This company wants to raise Rs 6.3 crore through IPO. This was a fixed price issue. The issue price of the company was kept at Rs 50 per share.
IPO allotment will be done on April 18
The company will use the money from IPO to meet its working capital needs. The remaining money will be used to fulfill general corporate purposes. The allotment of this IPO will be done on 18th April. Also, share transfer will be done in the demat account of investors on April 19. Trading of its shares will start on BSE SME from April 22.
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