Mumbai : Ganesh Green Bharat Ltd, a solar PV module maker for solar power, plans to raise Rs 125.23 crore through an initial public offering (IPO). The company’s share sale will open on Friday, July 5 and close on July 9. For this, the price per share has been fixed at Rs 181 to Rs 190, and after the sale, the shares will be listed on the market platform ‘NSE Emerge’. The share sale is being managed by Hem Securities.

The company has a solar PV generation capacity of 236.73 MW and the proposed expansion plan adds 163.27 MW. Ganesh Green’s associate company Souraj Energy also manufactures solar PV modules with an installed capacity of 192.72 MW. The funds raised from the share sale will be used to fully or partially repay loans, finance new machinery in the project, meet working capital requirements.

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The company has completed projects under various eight state government schemes like Saubhagya Yojana, Kusum Yojana and Saur Sujala Yojana. Apart from this, the company is also involved in the design, construction, installation, operation and maintenance of water supply schemes like Har Ghar Jal (Jal Jeevan Mission). As of 31 March 2024, Ganesh Green India had a revenue of Rs 170.17 crore and a net profit of Rs 19.88 crore.