Ganesh Green Bharat Limited’s shares had a spectacular debut on July 12 on the stock market as they were listed for Rs 361, which was ninety percent more than the share issue price of Rs 190 on the NSE SME.
However, the listing gains fall short of predictions from the grey market, where shares were trading for a 123 percent premium.
The Rs 125-crore public offer, which included a fresh issue of 65.91 lakh shares, sparked strong investor interest, with 229.92 lakh shares subscribed to over three days. The increase was caused mostly by non-institutional purchasers, who subscribed 470.44 times; qualifying institutions and retail investors subscribed 154.50 and 176.88 times, respectively.
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