Greenhitech Ventures IPO opened for subscription today. The subscription will close on Tuesday April 16. The IPO price band is at ₹50 apiece of the face value of ₹10 each, and the lot size consists of 3,000 shares. The issue price is 5 times of the face value.
What is Greenhitech Ventures?
Incorporated in November 2011, Greenhitech Ventures Limited specializes in distributing petroleum-based products, including biofuels, bitumen, and oils, to meet industrial needs. The company is also involved in the operational and maintenance aspects of ethanol production within government-owned distilleries. This portion of their business involves no direct ownership in the manufacturing process, but rather the company working under government contracts to manage and run ethanol-producing plants. Based in Varanasi, Uttar Pradesh, the company focuses on the biofuel sector, complying with 2015 bio-diesel blending regulations. The company emphasizes agricultural expertise, innovation, and research and development.
