GANESH GREEN BHARAT LIMITED are providing comprehensive portfolios in the field of supply, installation, testing and commissioning (SITC) of solar and electrical goods and services to various government bodies and is India’s leading solar panel manufacturer and EPC service provider.

Ganesh Green Bharat IPO, a Book Built issue amounting to ₹125.29 crores, consisting entirely a Fresh Issue of 65.91 lakh Shares. The subscription period for the Ganesh Green Bharat IPO opens on July 5, 2024, and closes on July 9, 2024. The allotment is expected to be finalized on or about Wednesday, July 10, 2024, and the shares will be listed on the NSE SME with a tentative listing date set on or about Friday, July 12, 2024.

The Share price band of Ganesh Green Bharat IPO is set at ₹181 to ₹190 equity per share, with a minimum lot size of 600 shares. Retail investors are required to invest a minimum of ₹114,000, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (1200 shares), amounting to ₹228,000.

HEM SECURITIES LIMITED is the book-running lead manager, KFIN TECHNOLOGIES LIMITED is the registrar for the Issue. HEM FINLEASE PRIVATE LIMITED is the sole market maker for the Ganesh Green Bharat IPO.

Ganesh Green Bharat Limited IPO GMP Today
The Grey Market Premium of Ganesh Green Bharat Limited IPO is expected in the range of ₹285 - ₹300 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Ganesh Green Bharat Limited IPO Allotment Status
Ganesh Green Bharat IPO allotment date is 10 July, 2024, Wednesday. Ganesh Green Bharat IPO Allotment will be out on 10th July 2024 and will be live on Registrar Website from the allotment date. Check Ganesh Green Bharat Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Ganesh Green Bharat Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Ganesh Green Bharat Limited IPO

Ganesh Green Bharat Issue Proceeds from the Fresh Issue will be utilized towards the following objects :
1. ₹1900.00 Lakhs of repayment in full or in part, of certain of their outstanding borrowings 
2. ₹1151.92  Lakhs of Funding Capital Expenditure towards installation of additional plant and machinery at their factory 
3. ₹ 6000.00 Lakhs of Funding to meet working capital requirements 
4. General Corporate Purpose.

Refer to Ganesh Green Bharat Limited RHP for more details about the Company.

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About GANESH GREEN BHARAT Limited

Ganesh Green Bharat Limited are providing comprehensive portfolios in the field of supply, installation, testing and commissioning (SITC) of solar and electrical goods and services to various government bodies. They have completed projects under various schemes of Central and State Government like - Saubhagya Scheme, KUSUM Scheme, Saur Sujla Yojna. They also forayed into the business of designing, construction, installation and operation and maintenance of Water Supply Scheme Projects like the Mukhya Mantri Nishchay Quality Affected Yojna, Har Ghar Jal (Jal Jeevan Mission) etc.

Their Subsidiary, Souraj Energy Private Limited (Souraj) is involved into manufacturing of solar photo-voltaic (“PV”) modules with installed capacity of 236.73 MW which has recently started commercial production. SPV modules manufactured in Souraj are made using quality components and advanced technologies that comply with industry standards. Solar PV modules are manufactured using both polycrystalline and monocrystalline cell technology. They have also initiated the use of Topcon Solar Cell Technology for manufacturing Solar PV Modules. The products are differentiated on the basis of solar PV module technology and type as well as cell size. These PV modules have wattages between 150Wp – 575Wp (370 Wp - 550Wp Mono PERC P Type Solar Cell (10BB) and 385Wp to 575 Wp - Mono PERC N Type Topcon Solar Cell (16BB) module. Their Subsidiary operates from its manufacturing facility situated at Mehsana, Gujarat and is equipped with machines like: Glass Loader, EVA Cutting Machine, Layup Machine, Stringer Bussing, Back sheet, Pre & Post – EL – Testing, Laminator Framing, Sun Simulator, Aluminium frame cutting & punching machine etc.

In the last 10 years, they have successfully completed (i) 17 work orders under Solar System & Allied Services aggregating to Rs 18515.46 Lakhs (ii) 7 work orders under Electrical contracting services aggregating to Rs 2146.20 Lakhs (iii) 2 work order under Water Supply Scheme Projects aggregating to Rs 1667.70 Lakhs.

INDUSTRY SCENARIO

Renewable Energy : 
• India has low conventional energy resources compared to its required energy needs driven by a huge population and a rapidly increasing economy. However, India can harness the huge potential of solar energy as it receives sunshine for most of the year. It also has vast potential in the hydropower sector which is being explored across states, especially in the northeast. 
• India is the only country among the G20 countries who is on track to achieve its targets under the Paris Agreement. 
• More than ₹5.2 lakh crore (US $ 70 billion) has been invested in India’s renewable energy sector since 2014.
• India ranked third on the EY Renewable Energy Country Attractive Index 2021.

PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) : 
• The scheme aims to add solar capacity of 30,800 MW by 2022 with total central financial support of ₹34,422 Crore including service charges to the implementing agencies. 
• The Scheme consists of three components: 
o Component A: 10,000 MW of solar capacity through installation of small Solar Power Plants of individual plants of capacity upto 2 MW. 
o Component B: Installation of 20 lakh standalone Solar Powered Agriculture Pumps. 
o Component C: Solarisation of 15 Lakh Grid-connected Agriculture Pumps. 
• Till 31.03.2026

Saur Sujala Yojana : 
The Saur Sujala Yojana is to set up solar irrigation pumps for the irrigation needs of the farmers. The scheme has been started on November 01, 2016 with the aim of empowering the farmers by providing irrigation pumps to the farmers at subsidized rates. The use of solar pump will help in increasing agricultural production in the state as well as conservation and augmentation of ground water and strengthening the rural economy. Under the plan, there is a provision for setting up solar pumps of 03 H.P. and 05 H.P. capacity. 
Saur Sujala Yojana is being implemented by Chhattisgarh State Renewable Energy Development Agency (CREDAChhattisgarh State Renewable Energy Development Agency). Beneficiaries under the scheme are selected by the Agriculture Department. Under the scheme, more than 01 lakh solar pumps have been installed.

Water Supply Scheme Projects

Jal Jeevan Mission (JJM) :
Jal Jeevan Mission, is envisioned to provide safe and adequate drinking water through individual household tap connections by 2024 to all households in rural India. The programme will also implement source sustainability measures as mandatory elements, such as recharge and reuse through grey water management, water conservation, rain water harvesting. The Jal Jeevan Mission will be based on a community approach to water and will include extensive Information, Education and communication as a key component of the mission. The Jal Jeevan Mission will be based on a community approach to water and will include extensive Information, Education and communication as a key component of the mission. JJM looks to create a jan andolan for water, thereby making it everyone’s priority.

Atal Mission for Rejuvenation and Urban Transformation (AMRUT) : 
Atal Mission for Rejuvenation and Urban Transformation (AMRUT) was launched on 25th June 2015 in selected 500 cities and towns across the country. The Mission focuses on development of basic infrastructure, in the selected cities and towns, in the sectors of water supply; sewerage and septage management; storm water drainage; green spaces and parks; and nonmotorized urban transport. A set of Urban Reforms and Capacity Building have been included in the Mission. Ministry of Housing and Urban Affairs has approved State Annual Action Plans (SAAPs) of all the States/Union Territories (UTs) amounting to ₹77,640 crore for the entire Mission period, which includes committed Central Assistance (CA) of ₹35,990 crore. So far, States/UTs have taken up 5,873 projects worth ₹82,222 crore, of which 4,676 projects worth ₹32,793 crore have been completed, and another 1,197 projects worth ₹49,430 crore have been grounded which are at various stages of implementation. Further, overall works worth around ₹66,313 crore have been physically completed and expenditure of ₹59,615 crore has been incurred. 

Till date, 134 lakh water tap connections and 102 lakh sewer connections (including households covered through Faecal Sludge and Septage Management - FSSM) have been provided through AMRUT & in convergence with other schemes against targeted 139 lakh water connections and 145 lakh sewer connections respectively. AMRUT Mission has been subsumed under AMRUT 2.0, which was launched on 01st October, 2021and ongoing projects of AMRUT 1.0 will be funded with CA till 31st March, 2023.

AMRUT 2.0 will promote circular economy of water through development of City Water Balance Plan (CWBP) for each city focusing on recycle/reuse of treated sewage, rejuvenation of water bodies and water conservation. It will help cities to identify scope for projects focusing on universal coverage of functional water tap connections, water source conservation, rejuvenation of water bodies and wells, recycle/reuse of treated used water, and rainwater harvesting. Based on the projects identified in CWBP, Mission envisages to make cities ‘water secure’ through circular economy of water. The total indicative outlay for AMRUT 2.0 is ₹2,99,000 crore including Central share of ₹76,760 crore for five years. This outlay includes funding of ₹22,000 crore (₹10,000 crore as Central Assistance) for ongoing projects of AMRUT till March 2023.

ELECTRICAL CONTRACTING SERVICES

Government of India with the objective to improve the quality and reliability of power supply in rural areas has launched the scheme Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY), an integrated scheme covering all aspects of rural power distribution which was conveyed by the Ministry of Power on December 3, 2014. “The erstwhile Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) scheme for village electrification and providing electricity distribution infrastructure in the rural areas has been subsumed in the DDUGJY scheme. Rural Electrification Corporation is the Nodal Agency for implementation of DDUGJY. 

DDUGJY facilitates towards achievement of ‘24x7 Power For All’ in the rural areas of India, through the following project components:

a) Separation of agriculture and non-agriculture feeders facilitating continuous quality power supply to non-agricultural consumers and adequate power supply to agricultural consumers; 
b) Strengthening and augmentation of sub-transmission & distribution infrastructure; 
c) Micro-grid and Off-grid distribution network; 
d) Metering of Distribution Transformers/Feeders/Consumers;
e) Rural Electrification component (including the erstwhile RE projects) 

Under the scheme, 60% of the project cost (85% for special States) is provided as grant by Government of India and additional grant upto 15% (5% for Special Category States) is provided by Government of lndia on achievement of prescribed milestones.(Special Category States -All North Eastern States including Sikkim, J&K, Himachal Pradesh, Uttarakhand.

SAUBHAGYA- Pradhan Mantri Sahaj Bijli Har Ghar Yojana : 
While inching towards achieving 100% village electrification, Govt. of India also focused in achieving electrification of all unelectrified households in the country.
Taking consideration of various studies, it came to light that major barriers in household electrification was lack of awareness, cost of obtaining new connections, complexity and other logistics difficulty faced in obtaining connections. Paying special attention to these requirements, Govt. of India systematically designed and launched a scheme Pradhan Mantri Sahaj Bijli Har Ghar Yojana – Saubhagya, in October 2017 focusing on last mile connectivity and electricity connections to all the unelectrified households in the country. Saubhagya scheme is one of the world’s biggest Universal electrification initiatives with collaborative and concerted efforts of Centre and States. It is a concurrent program to Deen Dayal Upadhyaya Gram Jyoti Yojana’ (DDUGJY).

The scheme outlay is ₹16,320 crore, including Gross Budgetary Support of ₹12,320 crore. REC is the Nodal Agency for operationalization of the scheme. The SAUBHAGYA scheme aims at providing:

a) Last mile connectivity and electricity connection to all un-electrified households in rural areas; 
b) Last mile connectivity and electricity connection to all remaining economically poor un electrified households in urban areas. Non-poor urban households are excluded from this scheme; 
c) Solar Photovoltaic (SPV) based standalone system for un-electrified households located in remote and inaccessible villages/habitations, where grid extension is not feasible or cost effective.

GANESH GREEN BHARAT LIMITED STRENGTHS
1. They offer a diversified range of solutions
2. Leverage their capabilities to capture strong industry tailwinds and growth prospects for solar energy
3. In house designing and execution team and established track record
4. Order Book of projects across India
5. Stable financial performance

GANESH GREEN BHARAT LIMITED STRATEGIES
1. Increasing the size of their projects and our pre-qualification
2. Implement strategic backward integration through Expansion of operations into manufacturing of Solar PV modules
3. Expansion of their geographical footprint
4. Cost effective production and timely fulfilment of orders

GANESH GREEN BHARAT LIMITED RISK FACTORS & CONCERNS
1. They bid for projects funded by the Central and State Governments and derive their revenues from the work orders awarded to them.
2. They rely on their in-house designing and engineering team for project execution.
3. They have limited experience in the business of manufacturing Solar PV modules and there is no assurance that they will be able to maintain or increase their revenue from operations in the long term.
4. They derive a significant portion of their revenue from certain states i.e., Gujarat, Rajasthan, Chhattisgarh, Uttar Pradesh and Punjab.
5. They are significantly dependent on the EPC projects in Electrical contracting services and Solar System & Allied Services.