Australian Premium Solar IPO booked 39 times so far on Day 2; New Swan's issue subscribed 37 times
SME IPO of Australian Premium Solar India was subscribed 39 times so far on the second day of the bidding process. The issue closes on January 15.
The IPO is entirely a fresh equity issue of up to 52 lakh equity shares aggregating to Rs 28.08 crore.
The company has fixed a price band of Rs 51-54 apiece, and investors can bid for 2,000 shares in 1 lot.
About 50% of the offer is reserved for qualified institutional investors, 35% for retail investors and 15% for non-institutional investors.
Net proceeds from the public offer will be used for funding capital expenditure, working capital requirements and general corporate purposes.
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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.
For the period ended September 2023, the company clocked revenues of Rs 50.17 crore and net profit of Rs 1.13 crore.
Beeline Capital Advisors is acting as the lead manager to the issue and Link Intime India is the registrar.
Meanwhile, the IPO of New Swan Multitech was booked 37 times so far on Day 2.
