Australian Premium Solar (India) IPO is a book built issue of Rs 28.08 crores. The issue is entirely a fresh issue of 52 lakh shares.
Australian Premium Solar (India) IPO opens for subscription on January 11, 2024 and closes on January 15, 2024. The allotment for the Australian Premium Solar (India) IPO is expected to be finalized on Tuesday, January 16, 2024. Australian Premium Solar (India) IPO will list on NSE SME with tentative listing date fixed as Thursday, January 18, 2024.
Australian Premium Solar (India) IPO price band is set at ₹51 to ₹54 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Australian Premium Solar (India) IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Australian Premium Solar (India) IPO DRHP for detailed information.
Australian Premium Solar (India) IPO Details
| IPO Date | January 11, 2024 to January 15, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 5,200,000 shares (aggregating up to ₹28.08 Cr) |
| Fresh Issue | 5,200,000 shares (aggregating up to ₹28.08 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 14,540,000 |
| Share holding post issue | 19,740,000 |
| Market Maker portion | 260,000 shares |
Australian Premium Solar (India) IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Australian Premium Solar (India) IPO Timeline (Tentative Schedule)
Australian Premium Solar (India) IPO opens on January 11, 2024, and closes on January 15, 2024.
| IPO Open Date | Thursday, January 11, 2024 |
| IPO Close Date | Monday, January 15, 2024 |
| Basis of Allotment | Tuesday, January 16, 2024 |
| Initiation of Refunds | Wednesday, January 17, 2024 |
| Credit of Shares to Demat | Wednesday, January 17, 2024 |
| Listing Date | Thursday, January 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 15, 2024 |
Australian Premium Solar (India) IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
| Lot Size Calculator | |||
Australian Premium Solar (India) IPO Promoter Holding
The company promoters are Mr. Chimanbhai Ranchhodbhai Patel, Mrs. Savitaben Chimanbhai Patel, and Mr. Nikunjkumar Chimanlal Patel.
| Share Holding Pre Issue | 99.98% |
| Share Holding Post Issue | 73.64% |
About Australian Premium Solar (India) Limited
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.
Australian Premium Solar (India) Limited Financial Information (Restated)
Australian Premium Solar (India) Limited’s revenue decreased by -3.43% and profit after tax (PAT) rose by 23.27% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 3,918.90 | 3,468.37 | 3,501.67 |
| Revenue | 9,495.86 | 9,832.92 | 7,443.97 |
| Profit After Tax | 333.43 | 270.48 | 180.11 |
| Net Worth | 1,446.62 | 1,113.19 | 847.10 |
| Reserves and Surplus | 1,444.62 | 1,111.19 | 845.10 |
| Total Borrowing | 222.13 | 299.37 | 328.96 |
| Amount in ₹ Lakhs | |||
Key Performance Indicator
Australian Premium Solar (India) IPO Market Cap is Rs 106.6 Cr and P/E (x) is 23.58.
| KPI | Values |
|---|---|
| P/E (x) | 23.58 |
| Market Cap (₹ Cr.) | 106.6 |
| ROE | 26.05% |
| ROCE | 30.62% |
| Debt/Equity | 0.15 |
| EPS (Rs) | 1.24 |
| RoNW | 23.05% |
Check Australian Premium Solar (India) IPO Peer Comparison here.
Objects of the Issue (Australian Premium Solar (India) IPO Objectives)
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 (India) IPO Review (May apply)
[Dilip Davda] The company is in the solar power related business and services. It marked fluctuating top lines with surging profits for the reported periods. With its FY24 super annualized earnings, the issue appears aggressively priced. It is operating in a highly competitive and fragmented segment. Well-informed investors may park funds for the long term rewards. Read detail review…
Australian Premium Solar (India) Limited Contact Details
Australian Premium Solar (India) Limited
Tajpur,
NH-08 TA-Prantij,
Sabarkantha – 383205
Phone: +91 87359 32511
Email: compliance@australianpremiumsolar.co.in
Website: http://www.australianpremiumsolar.co.in/
Australian Premium Solar (India) IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: australianpremium.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html