Australian Premium Solar IPO booked 11 times within hours of opening on Day 1. Check GMP, price band and other details
Australian Premium Solar India opened for subscription on Thursday. The issue, which closes on January 15, is getting solid response from investors with the overall subscription at nearly 12 times within hours of opening.
1) Company Overview
Australian Premium Solar is in the business of manufacturing Monocrystalline and Polycrystalline solar panels and engineering, procurement, and construction (EPC) services thereof. The products manufactured by the company are used in residential, agricultural, and commercial installations.
2) Issue size
The IPO is entirely a fresh equity issue of up to 52 lakh equity shares, aggregating to Rs 28.08 crore.
3) Price band
The company is offering its shares at Rs 51-54 apiece, and investors can bid for 2,000 shares in one lot.
4) Financial performance
For the period ended September 2023, the company clocked revenues of Rs 50.17 crore and net profit of Rs 1.13 crore.
5) Objects of the offer
The net proceeds from the public offer will be used for funding capital expenditure, working capital requirements, and general corporate purposes.
6) Lead managers and Registrar
Beeline Capital Advisors is acting as the lead manager to the issue and Link Intime India is the registrar.
7) Issue structure
About 50% of the offer is reserved for qualified institutional investors, 35% for retail investors, and 15% for non-institutional investors.
8) Important dates
The IPO opened on January 11 and will close on January 15. The final allotment will likely be made on January 16. The company's shares will likely be listed on January 18.
9) GMP
The company's shares are trading with a premium of Rs 30 in the unlisted market.
10) Listing of shares
The company's shares will get listed
