Oriana Power IPO: Latest GMP, subscription status on day 3, and key other details
₹115 to ₹118 per equity share for the proposed SME initial public offer. Oriana Power IPO lot size consists of 1200 equity shares and the multiples of 1200 equity shares thereafter. Oriana Power IPO is made up of a completely fresh equity offering of up to 50.5 lakh equity shares totalling up to ₹59.6 crore.
The company plans to utilise the net proceeds to meet its working capital requirements which includes daily operating expenses, secondly the company aims to use the funds as investment in subsidiary, and for other capital expenditures that includes investment in technology, equipment, and infrastructure purposes. Also Read: Oriana Power IPO: GMP, price band, subscription status on day 2, and other key details For the fiscal year that ended in March 2023, the company reported total revenue of ₹137.31 crore, up 9.87% from ₹124.97 crore in the comparable prior-year period. The consolidated profit after tax jumped by 57.49% to ₹10.93 crore from ₹6.94 crore.
The basis of allotment of shares will be finalised on Tuesday, August 8 and the company will initiate refunds on Wednesday, August 9, while the shares will be credited to the demat account of allottees on Thursday, August 10. Oriana Power IPO shares are likely to be listed on NSE SME on Friday, August 11. Also Read: SBFC Finance IPO: Issue fully subscribed on day 1; NII, retail portion sees huge demand Oriana Power IPO's book running lead manager (BRLM) to the issue is Corporate Capital ventures Private Ltd and registrar to the issue is Skyline Financial Services Private Ltd.
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