About the Company:
Green Hitech Ventures Ltd is engaged in trading of various petroleum-based products for the different categories of industries based on their requirement.
This includes supply of biofuels, bitumen, light density oils, furnace oils etc. Company is also engaged in Operation & Maintenance as Job worker for Ethanol manufacturing in Government owned distilleries.
Company provides business solutions and services to consumers of Fuels and other alternative materials across India.
Company is engaged in Operation & Maintenance as Job worker for Ethanol manufacturing in Government owned distilleries.
Company is not having its owned manufacturing unit. Company bids for tender of Government owned distillery for Operation & Maintenance as Job worker for Ethanol manufacturing.
After receipt of tender, Company runs the ethanol plant in government owned distillery and manufacture ethanol and transfer all ethanol manufactured to the respective distillery.
Hence there is no procurement and selling of Product for ethanol manufacturing as Company manufacturers ethanol in government owned distillery for transferring to them only.
Company is among one of very few players eligible for Operation and Maintenance of ethanol production in Government managed distilleries.
Company is a well-known in the Purvanchal belt of Uttar Pradesh, India for supply of bio-diesel.
Company’s Business Segments:
Trading of Bio fuels.
Company is a supplier of various petroleum-based products for the different categories of industries based on their requirement and understands the market needs and upgrade our team constantly with growing technology and market trends.
Jobwork for Ethanol Manufacturing:
Company is engaged in the field of operation and maintenance of ethanol production and have a dedicated team for smooth operations and coordination with the top management and to ensure the target production is achieved.
Company has started ethanol manufacturing business from May, 2022 after signing first agreement with Uttar Pradesh Cooperative Sugar Federation Limited, Ethanol Plant, Operation and Maintenance in Ghosi Tehsil, Mau, Uttar Pradesh.
Company has also signed a second agreement with Rajasthan Sugar Federation Limited, Sriganganagar Sugar Plant on November, 2022. The Revenue generation from such business is started in Financial year 2022-23.
Company’s Ongoing Projects in field of ethanol production:
1) Rajasthan Sugar Federation Limited, Sriganganagar Sugar Plant:
- Company has entered into agreement with Rajasthan State Ganganagar Sugar Mills Ltd dated November 30, 2022 for operation and maintenance on molasses/syrup-based distillery having capacity of 30 KLPD with 1.2 MW biomass based power plant situated at Chak 23F, The ShriKaranpur, Sriganganagar City.
2) Uttar Pradesh Cooperative Sugar Federation Limited, Ethanol Plant, Operation and Maintenance in Ghosi Tehsil, Mau, Uttar Pradesh.
- Company has entered into agreement with Distillery Unit, The Kisan Sahkari Chini Mills Ltd Ghosi Distt Mau, Uttar Pradesh dated May 26, 2022 for operation, repair and maintenance of equipments, machinery for newly erected Distillery of 30 KLPD capacity.
Company’s Revenue from Top 3 Customers: (in Lakhs)
Management Team:
- Mr. Naved Iqbal (Designation: Chairman cum Managing Director)
- Mr. Mohammad Nadeem (Designation: Whole-Time Director & CFO)
Objectives of the Issue:
Fresh Issue: (Rs.6.3 cr)
- To Meet Working Capital Requirement.
- General Corporate Purpose.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| To Meet Working Capital Requirement | 4.50 cr |
| General Corporate Expenses | 0.85 cr |
| Net Proceeds | 5.35 cr |
Peer Group Comparison:
There are no listed companies in India that is engaged in business of ethanol manufacturing as jobworker and Trading of Biofuels. Accordingly, it is not possible to provide a comparison of accounting ratios of industry with Greenhitech Ventures Ltd.
Financials of the Company:
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 31st Jan 24 |
|---|---|---|---|---|
| Revenue | 40.07 | 66.11 | 25.04 | 4.74 |
| Net Profit | 0.24 | 1.35 | 0.57 | 0.40 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 12th April 2024 |
| Issue Closes on | 16th April 2024 |
| Issue Price | Rs.50 |
| Face Value | Rs.10 |
| Minimum Lot | 3000 Shares |
| Minimum Investment | Rs.1,50,000 |
| Issue Constitutes | 26.80 % |
| Issue Size | Rs. 6.3 cr |
| Market Cap | Rs. 23.5 cr |
| Listing at | BSE SME |
| Equity Shares Offered (Fresh) | 12,60,000 (Rs.6.3 cr) |
| Equity Shares Prior to the Issue | 34,40,000 |
| Equity Shares after the Issue | 47,00,000 |
Important Dates:
| Finalization of Basis of Allotment | on or Before 18th April 2024 |
| Initiation of Refunds | on or Before 19th April 2024 |
| Credit of Equity Shares: | on or Before 19th April 2024 |
| Listing Date: | on or Before 22nd April 2024 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 1.81 | 27.62 | 18.14% | 10 |
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| Should You Subscribe or Not ? (Markets Guruji’s View) |
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Green Hitech Ventures Ltd specializes in the trading of various petroleum-based products tailored to different industries’ needs, encompassing biofuels, bitumen, light density oils, and furnace oils. Additionally, the company undertakes Operation & Maintenance services as a job worker for Ethanol manufacturing in government-owned distilleries. However, a significant drawback is the absence of an owned manufacturing unit. Moreover, the industry faces challenges such as heightened competition from major players, evolving government policies, and fluctuating raw material prices. With no substantial entry barriers, the threat of competition from new entrants looms large. Another critical concern is the heavy reliance on the top five customers, which accounts for the entirety of the revenue—a risk factor that investors should consider carefully. Given these factors, potential investors may opt to avoid the IPO, considering the uncertainties and vulnerabilities associated with the company’s operational dynamics. |
| Company Contact Info: |
|---|
| Greenhitech Ventures Limited B27/92 K1 Jawahar Nagar Colony, Bhelupura Varanasi-221010, Uttar Pradesh, India Tel. No.: +91 9336875025 E-mail: info@greenhitech.org Website: www.greenhitech.org |
| Registrar to the Issue: |
|---|
| SKYLINE FINANCIAL SERVICES PRIVATE LIMITED D-153A, 1st Floor, Okhla Industrial Area Phase-I, New Delhi – 110020, India Tel. No.: 011-40450193-197 Email: ipo@skylinerta.com Website: www.skylinerta.com |
| Lead Manager to the Issue: |
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| BEELINE CAPITAL ADVISORS PRIVATE LIMITED B 1311-1314, Thirteenth Floor, Shilp Corporate Park, Rajpath Rangoli Road, Thaltej, Ahmedabad- 380054, Gujarat, India. Tel. No.: +91-79-48407357 Email: mb@beelinemb.com Website: www.beelinemb.com |
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SkylineWebsite: http://Skyline/IPO/Allotment_Status |
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