Greenhitech Ventures Ltd. (GVL) operates in the petroleum products trading sector, supplying biofuels, bitumen, and other products to various industries. Additionally, it provides operation and maintenance services for ethanol manufacturing in government distilleries. Despite its efforts to stay updated with technology and market trends, GVL faces challenges. Its IPO is priced at a high P/BV of 3.77, reflecting its NAV of Rs. 13.27 as of January 31, 2024. The company has a history of no dividends, decreasing EPS, shrinking asset size, and increased borrowing. Revenue has plummeted from Rs. 66 Cr. in FY22 to Rs. 4.75 Cr. by January 31, 2024. With inconsistent financial performance, particularly in FY24, investors may opt to avoid this overpriced offering.