Australian Premium Solar Limited IPO Detail
Incorporated in 2013, Australian Premium Solar (India) Limited manufactures monocrystalline and polycrystalline solar modules and provides engineering, procurement, and construction (EPC) services for residential, agricultural, and commercial applications.
The company manufactures two types of solar panels:
- Monocrystalline solar panels: The solar cells used in monocrystalline solar panels are more efficient and have a darker, uniform appearance due to their monocrystalline structure, allowing the busbars (copper-coated thin ribbons) to be placed more strategically without significantly detracting from the appearance.
- Polycrystalline solar panels: Solar cells used in polycrystalline solar panels have a blue or speckled appearance due to their multicrystalline structure; busbars may need to be positioned to accommodate the less uniform appearance of these cells.
The company also provides installation services for solar panels and solar pumps for residential and industrial end users, while it also provides installation services for solar pumps for agricultural end users.
By August 31, 2023, the company has provided more than 10,000 customers with the installation of solar panels, of which more than 9500 have been installed on the roofs of residential buildings and more than 1300 with solar pumps for agriculture.
The company's manufacturing facility is located in Sabarkantha, Gujarat, India. As at July 31, 2023, the company employed a total of 169 people.
Company Promoters
The company promoters are Mr. Chimanbhai Ranchhodbhai Patel, Mrs. Savitaben Chimanbhai Patel, and Mr. Nikunjkumar Chimanlal Patel.IPO Details
| IPO Opening Date | Jan 11, 2024 |
| IPO Closing Date | Jan 15, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹51 - 54 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹28.08 Cr |
| Fresh Issue | 5,200,000 shares (aggregating up to ₹28.08 Cr) |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.07x | - | - | 19.44x | 44.56x | 26.47x |
| Day 2 | 5.62x | - | - | 55.44x | 113.31x | 70.15x |
| Day 3 | 107.02x | - | - | 772.33x | 533.76x | 463.07x |
IPO Tentative Timetable
The Australian Premium Solar Limited IPO open date is Jan 11, 2024, and the close date is Jan 15, 2024. The issue may list on Jan 18, 2024.
| IPO Open Date | Jan 11, 2024 |
| IPO Close Date | Jan 15, 2024 |
| Basis of Allotment Date | Jan 16, 2024 |
| Initiation of Refunds | Jan 17, 2024 |
| Credit of Shares to Demat Account | Jan 17, 2024 |
| IPO Listing Date | Jan 18, 2024 |
IPO Lot Size
The Australian Premium Solar Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹108000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹108000 |
| Maximum | 1 | 2000 | ₹108000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.98% |
| Post Issue Share Holding | 73.64% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Jul-23 | 4416.89 | 5027.28 | 113.16 |
| 31-Mar-23 | 3918.90 | 9495.86 | 333.43 |
Objects of the Issue:
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- Funding capital expenditure.
- To Meet Working Capital Requirements.
- General Corporate Purpose.
- To meet Public Issue Expenses.
Australian Premium Solar Limited IPO Registrar:
Link Intime India Private Ltd
Australian Premium Solar Limited IPO Lead Manager(s):
Beeline Capital Advisors Pvt Ltd
Company Contact Information:
Australian Premium Solar Limited
Tajpur, NH-08 TA-Prantij
Sabarkantha
Gujarat
