Our company was originally formed as partnership firm under the Indian Partnership Act, 1932 in the name and style of "M/s. Ganesh Electricals'', pursuant to a deed of partnership dated April 02, 2016, entered between Dhanjibhai Narsinhbhai Patel, Ketanbhai Narsinhbhai Patel, Niravkumar Sureshhai Patel and Rajendrakumar Narsinhbhai Patel. Further, "M/s Ganesh Electricals" was converted from partnership firm to a Private Limited Company in the name of "Ganesh Electricals Private Limited" vide Certificate of Incorporation dated May 30, 2019 issued by Registrar of Companies, Central Registration Centre bearing CIN U31900GJ2019PTC108417. Further, pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on October 09, 2023, the name of our Company was changed from "Ganesh Electricals Private Limited" to "Ganesh Green Bharat Private Limited" and a fresh certification f incorporation pursuant to change of name was issued by the Registrar of Companies, Ahmedabad vide certificate dated October 11, 2023. Subsequently, our Company was converted into a Public Limited Company vide Special Resolution passed by the shareholders at the Extra Ordinary General Meeting, held on October 11, 2023 and consequent the name of our Company was changed from "Ganesh Green Bharat Private Limited" to "Ganesh Green Bharat Limited" vide a certificate of Incorporation consequent upon conversion to public company dated October 13, 2023 issued by the Registrar of Companies, Ahmedabad bearing CINU31900GJ2019PLC108417

We 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. We have complete projects under various schemes of Central and State Government like - Saubhagya Scheme, KUSUM Scheme, Saur Sujla Yojna. We 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.

INITIAL PUBLIC OFFER OF UPTO 65,91,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH (THE "EQUITY SHARES") OF GANESH GREEN BHARAT LIMITED ("OUR COMPANY" OR "GGBL" OR "THE ISSUER") AT AN ISSUE PRICE OF  190 PER EQUITY SHARES FOR CASH, AGGREGATING UP TO RS. 12,522.90 L  AKHS ("PUBLIC ISSUE") OUT OF WHICH 3,31,200 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH, AT AN ISSUE PRICE OF RS. 190 PER EQUITY SHARE FOR CASH, AGGREGATING RS. 629.28 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (" THE MARKET MAKER RESRVATION PORTION") ABD UPTO 66,000 EQUITY SHARES AGGREGATING UP TO RS. 125.40 LAKHS FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (AS DEFINED HEREINAFTER) (THE "EMPLOYEE RESERVATION PORTION"). THE PUBLIC ISSUE LESS MARKET MAKER RESERVATION PORTION AND EMPLOYEE RESERVATION PORTION I.E. ISSUE OF 61,93,800 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH. AT AN ISSUE PRICE OF RS. 190 PER EQUITY SHARE FOR CASH, AGGREGATING UPTO RS. 11,768.22 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE PUBLIC ISSUE AND NET ISSUE WILL CONSTITUTE 26.58 % AND 24.97% RESPECTIVELY OF THE POST-ISSUE PAID -UP EQUITY SHARES CAPITAL OF OUR COMPANY.

RISKS TO INVESTORS:

a) We bid for projects funded by the Central and State Governments and derive our revenues from the work orders awarded to us. Any reduction in budgetary allocation to our industry sector may affect the number of projects that the government authorities/bodies may plan to develop in a particular period. Our business is directly and significantly dependent on projects awarded by them.

b) The Merchant Banker associated with the Issue has handled 50 SME public issue in the past three years out of which 2 SME Public Issue closed below the Issue Price on listing date.

c) Average cost of acquisition of Equity Shares held by the Individual Promoter is

and the Issue Price at the upper end of the Price Band is Rs. 190 per Equity Share.

d) The Price/ Earnings ratio based on Diluted EPS for Fiscal 2024 for the company at the upper end of the Price Band is 17.40

e) Weighted Average Return on Net worth for Fiscals 2024, 2023 and 2022 is 28.28%.

f) The Weighted average cost of acquisition of all Equity Shares transacted in the last one year, 18 months and three years from the date of Prospectus is as

given below:

g) The Weighted average cost of acquisition compared to Floor Price and Cap Price.

Note:

'‘There were no primary or secondary sale/acquisition of shares (equity shares) excluding gift in last IS months from the date of the Prospectus.

The Issue was being made through the Book Building Process, in terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 253 of the SEBIICDR Regulations, as amended, wherein not more than 50 % of the Net issue was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Portion"), Our Company in consultation with the Book Running Lead Manager has allocated upto 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulation ("Anchor Investor Portion"). Further, not less than 15% of the Net issue shall be available for allocation on a proportionate basis to Non-lnstitutional Bidders and not less than 35% of the Net Issue was made available for allocation to Retail Individual Bidders in accordance with the SEBI (ICDR) Regulations, subject to valid Bids being received at or above the issue Price. Furthermore, 55,800 Equity Shares were made available for allocation on a proportionate basis only to Eligible Employees Bidding in the Employee Reservation Portion, subject to valid Bids being received at or above the Issue Price. All potential Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors Were not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" beginning on page 257 of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause pertaining to NSE. For the purpose of this Issue, the Designated Stock Exchange will be the National Stock Exchange of India Limited. The trading is proposed to be commenced on or before Friday, July 12, 2024*

* Subject to the receipt of listing and trading approval from the NSE (NSE Emerge).

The bidding for Anchor Investors opened and closed on Thursday, July 04, 2024. The Company received 20 Anchor Investors applications for 23,62,200 Equity Shares, The Anchor Investors Allocation price was finalized at Rs. 190/- per Equity Shares. A total of 18,57,600 Equity Shares were allotted under the Anchor Investors portion aggregating to Rs. 35,29,44,000/-. The Issue (excluding Anchor Investors Portion) received 7,08,063 Applications for 1,02,01,17,600 Equity Shares (after bid not banked cases and removing multiple and duplicate bids and before technical rejection) resulting 215.51 times subscription (including reserved portion of market maker and excluding anchor investor portion). The details of the Applications received in the Issue from various categories are as under (before technical rejections):

Detail of the Applications Received (excluding Anchor Investors Portion):

* This excludes 1,376 applications for 825,600 Equity Shares aggregating to Rs. 156,822,000/- from Retail Individual which were not in bid book but which were banked.

Final Demand:

A summary of the final demand as per NSE as on the Bid/ Issue Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being National Stock Exchange of India Limited (NSE Emerge) on July 10,2024.

1) Allotment to Retail Individual Investors (After Technical Rejections):

The Basis of Allotment to the Retail Individual Investors, who have Bid at cut-off Price or at or above the Issue Price of Rs. 190 per Equity Share, was finalized in consultation with NSE. The category has been subscribed to the extent of 472.64 times (after technical rejection). The total number of Equity Shares allotted in this category is 9,31,200*

Shares to 3,620 successful applicants. The details of the Basis of Allotment of the said category are as under:

'Including Unsubscribe portion of 3600 Equity Shares from Employee Category'.

2) Allotment to Non-institutional Investors (After Technical Rejections):

The Basis of Allotment to the Non-institutional Investors, who have bid at the Issue Price of Rs. 190 or above per Equity Share was finalized in consultation with NSE. The category has been subscribed to the extent of 472.64 times (after technical rejection). The total number of Equity Shares Allotted in this category is 9,31,200 Equity Shares to 1,323 successful applicants. The details of the Basis of Allotment of the said category are as under (Sample Basis):

'Including Unsubscribed portion of 1,800 Equity Shares from Employee Category.

Note: 1 Additional lot of 600 shares have been allocated to Categories 360000,368400,393600,394200,411000,416400, 510000,701400 & 1052400 in the ratio of 1:2,1:2,1:2,1:3,1:2,1:2,2:3,1:3 & 1:2

3) Allotment to Employee Investors (After Technical Rejections):

The Basis of Allotment to the Employee Investors, who have bid at the Issue Price of Rs. 190 or above per Equity Share was finalized in consultation with NSE. The category has been subscribed to the extent of 0.85 times (after technical rejection). The total number of Equity Shares Allotted in this category is 55,800** Equity Shares to 26 successful applicants. The details of the Basis of Allotment of the said category are as under:

** Unsubscribed portion of 10,200 Equity Shares spilled over to QIBs, NIB and Retail Individual Investor Categories in the ratio of 50:15:35

4) Allocation to Market Maker (After Technical Rejections & Withdrawal):

The Basis of Allotment to Market Maker who have bid at Issue Price of ^ 190/- per Equity Shares or above, was finalized in consultation with NSE. The category was subscribed by 1.00 times i.e. for 3,31,200 Equity shares the total number of shares allotted in this category is 3,31,200 Equity Shares. The category wise details of the Basis of Allotment are as under:

5) Allotment to QIBs excluding Anchor Investors (After Technical Rejections):

Allotment to QIBs, who have bid at the Issue Price of Rs. 190 or above per Equity Share has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 151.37 times of QIB portion. The total number of Equity Shares allotted in the QIB category is 12,43,200* Equity Shares, which were allotted to 107 successful Applicants.

6) Allotment to Anchor Investors (After Technical Rejections):

The Company in consultation with the BRLM has allocated 18,57.600 Equity Shares to 20 Anchor Investors at the Anchor Investor Issue Price of Rs.190 per Equity Shares in accordance with the SEBI (ICDR) Regulations. This represents upto 60% of the QIB Category.

* Includes spilled over of 62,400 Equity Shares from QIB MF & 4,800 Equity Shares from Employee category.

Note: 1 Additional lot of 600 shares have been allocated to Categories 1315800,2479800,4210200,4315200,4335000 & 4336200 in the ratio of 1:2,3:10,1:3,1:2,2:3 & 7:9

The Board of Directors of our Company at its meeting held on July 10, 2024 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched / mailed for unblocking of funds and transfer to the Public Issue Account on or before July 11,2024. In case the same is not received within ten days. Investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allottees shall be uploaded on July 11,2024 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of obtaining the listing and trading approval from NSE and the trading of the Equity Shares is expected to commence trading on July 12, 2024.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated July 10, 2024 filed with the Registrar of Companies, Ahmedabad, Gujarat ("RoC").

	KFIN Technologies Limited
	Address: Selenium Tower B, Plot No.31-32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad 500032, Telangana, India;
	Tel. No.: +91 40 6716 2222; Toll Free No.: 1800 309 4001; Email: ggbl.ipo@ktintech.com; Website: www.kfintech.com; Contact Person: M Murali Krishna;
	SEBI Registration No.: INR000000221; CIN: L72400TG2017PLC117649

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF GANESH GREEN BHARAT LIMITED

Disclaimer Ganesh Green Bharat Limited has filed the Prospectus with the RoC on July 10,2024 and thereafter with SEBI and the Stock Exchange. The Prospectus is available website of the NSE and SEBI. Investors should note that investment in Equity Shares involves a high degree of risk and for details relating to the same, please see "Risk Factor available on the website of the BRLM, Hem Securities Limited at www.hemsecurities.com and the Company at: www.ganeshgreen.com, and shall also be available on the "Securities Act" or any state securities laws in the United States, and unless so registered1 and may not be issued or sold within the United States, except pursuant to an Factors "beginning on page 25 of the Prospectus The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U S. state securities laws, The Equity Shares are being Issued and sold outside the United States in 'offshore transactions' in reliance on Regulation under the Securities Act and the applicable laws of each jurisdiction where such Issues and sales are made. There will be no public Issuing in the United States.