Ganesh Green Bharat Ltd IPO

Ganesh Green Bharat Limited 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 Sureshbhai 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 13, 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 the Company was changed from Ganesh Electricals Private Limited to Ganesh Green Bharat Private Limited and a fresh certificate of incorporation pursuant to change of name was issued by the Registrar of Companies, Ahmedabad vide certificate dated October 11, 2023. Subsequently, the 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 consequently the name of the 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 CIN U31900GJ2019PLC108417.

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. More than Rs.5.2 lakh crore (US $ 70 billion) has been invested in India's renewable energy sector since 2014. Due to its favourable location in the solar belt (400 S to 400 N), India is one of the best recipients of solar energy with abundant availability. The installed solar energy capacity has increased by 24.4 times in the last 9 years and stands at 66.7 GW as of May 2023.

The group has diversified its business as service provider into multiple verticals catering to (i) Solar System & Allied Services, (ii) Electrical contracting services (iii) Water Supply Scheme Projects and as a (iv) manufacturer of solar photo-voltaic (PV) modules. Its in-house engineering and design capabilities help the company offers diversified products and solutions to its customers in each of the product categories in which it operates. Its comprehensive solutions include its services as EPC contractor involving designing, engineering, construction, installation and commissioning of projects.