The Australian Premium Solar (India) IPO marks a significant opportunity in the renewable energy sector, representing a book-built issue valued at Rs. 28.08 crores. This fresh issue comprises 52 lakh shares, offering investors a chance to delve into the expanding solar market.
Starting its subscription phase from January 11, 2024, and concluding on January 15, 2024, the IPO anticipates finalizing allotments by January 16, 2024. Scheduled for listing on the NSE SME, the IPO eyes Thursday, January 18, 2024, for its debut.
Priced between Rs. 51 to Rs. 54 per share, the IPO requires a minimum lot size of 2000 shares, making the retail investor entry point at Rs. 108,000. High Net Worth Individuals (HNI) need a minimum investment of 2 lots (4,000 shares), totaling Rs. 216,000.
The IPO’s management is entrusted to Beeline Capital Advisors Pvt Ltd, functioning as the book running lead manager, while Link Intime India Private Ltd handles the registrar responsibilities.
For comprehensive insights into the Australian Premium Solar (India) IPO, referring to its Detailed Red Herring Prospectus (DRHP) is recommended, providing in-depth information crucial for potential investors. This offering stands as a gateway for those seeking to engage in India’s burgeoning solar energy landscape.
Australian Premium Solar (India) IPO Details
| IPO Date | January 11, 2024 – January 15, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 5,200,000 shares |
| Fresh Issue | 5,200,000 shares |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 14,540,000 |
| Shareholding Post-Issue | 19,740,000 |
| Market Maker portion | 260,000 shares |
The Australian Premium Solar (India) IPO, spanning from January 11, 2024, to January 15, 2024, sets the stage for substantial investment opportunities in the renewable energy sphere. With a face value of Rs. 10 per share, this book-built issue presents a price band ranging between Rs. 51 to Rs. 54 per share. The IPO comprises 5,200,000 fresh shares, aggregating up to Rs. 28.08 crore, reflecting the commitment towards expanding solar energy initiatives.
This offering, listed on NSE SME, sees an increased post-issue shareholding to 19,740,000 from 14,540,000 shares pre-issue, with a market maker portion of 260,000 shares included. Delineating the reservation framework, it allocates QIB shares not surpassing 50.00% of the Net offer, while retail shares constitute not less than 35.00% of the offer. Similarly, NII (HNI) shares comprise a minimum of 15.00% of the total offering, catering to varied investor categories.
IPO Reservation Details
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.
The Australian Premium Solar (India) IPO stands as a book-built issue, targeting an infusion of fresh capital through 5,200,000 shares at a face value of Rs. 10 per share. Investors can engage within the price band of Rs. 51 to Rs. 54 per share, with a lot size of 2000 shares. Post-issue, the shareholding is anticipated to rise to 19,740,000 shares.
The IPO’s categorization of offered shares ensures participation opportunities across various investor segments, fostering a diverse investment landscape within the renewable energy domain.
Australian Premium Solar (India) IPO Essential Timelines
| 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 |
The Australian Premium Solar (India) IPO presents a concise yet impactful timeline, inviting investors to engage in this promising opportunity within the renewable energy sector. The IPO opens its subscription phase on Thursday, January 11, 2024, and concludes on Monday, January 15, 2024, with a stipulated cutoff time for UPI mandate confirmation set at 5 PM on the closing date.
The timeline proceeds swiftly, with the basis of allotment expected to be finalized by Tuesday, January 16, 2024, followed by the initiation of refunds and the credit of shares to demat accounts on Wednesday, January 17, 2024.
Finally, marking an important milestone, the Australian Premium Solar (India) IPO anticipates its listing on Thursday, January 18, 2024, showcasing the company’s entry into the market.
Australian Premium Solar (India) IPO Lot Size
Retail and HNI Investments
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4000 | ₹216,000 |
Investors eyeing the Australian Premium Solar (India) IPO can participate by bidding for a minimum of 2000 shares, with the flexibility to bid in multiples thereof. The offering outlines a clear structure for retail and High Net Worth Individual (HNI) investors, ensuring a transparent investment process.
For retail investors, the minimum application starts at 1 lot, equating to 2000 shares, requiring an investment of Rs. 108,000. The maximum application for retail investors remains consistent, allowing for 1 lot, or 2000 shares, with the same investment amount of Rs. 108,000.
On the other hand, HNI investors have a different entry point. The minimum application for HNIs stands at 2 lots, totaling 4000 shares, necessitating an investment of Rs. 216,000. This highlights the distinct investment parameters set for HNI investors compared to retail participants, catering to varied investment capacities and preferences.
Grey Market Premium (GMP) Australian Premium Solar (India) IPO
The Grey Market Premium (GMP) for the Australian Premium Solar (India) SME IPO indicates an evolving trend in the aftermarket trading scenario. As of the last update on January 6th, 2024, at 03:30 PM, the GMP stood at Rs. 6. This metric serves as an insightful indicator for potential investors, hinting at market sentiment surrounding the IPO.
Considering the IPO’s price band set at Rs. 54.00, an estimated listing price of Rs. 60.00 (comprising the cap price and the day’s GMP) emerges. This suggests a potential gain of approximately 11.11% per share upon listing, offering a glimpse into the expected performance post-IPO.
Additionally, the Retail Subject to Sauda for the Australian Premium Solar (India) SME IPO stands at Rs. 9100, providing retail investors with an initial understanding of the investment quantum involved in this offering.
It’s important to note that the GMP for this IPO has commenced recently, making it premature to ascertain its definitive trajectory. Daily updates on the GMP are anticipated, offering insights into the IPO’s evolving market dynamics and potentially impacting the expected listing price.
For investors tracking the Australian Premium Solar (India) SME IPO, staying updated with the latest GMP trends and subsequent information remains crucial in making informed investment decisions as the IPO progresses towards its listing date.
Australian Premium Solar (India) Day-wise IPO GMP Trend
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 06-01-2024 | 54.00 | ₹6 No change | 9100 | ₹60 (11.11%) | 6-Jan-2024 15:30 |
The Australian Premium Solar (India) IPO’s promoter holding details
The Australian Premium Solar (India) IPO’s promoter holding details reveal the ownership structure pre and post the issue. Prior to the IPO, the promoters, including Mr. Chimanbhai Ranchhodbhai Patel, Mrs. Savitaben Chimanbhai Patel, and Mr. Nikunjkumar Chimanlal Patel, collectively held a substantial share of about 99.98% in the company.
However, after the IPO issue, the promoter holding is expected to reduce to around 73.64%. This signifies a significant change in the ownership structure, with a partial dilution of the promoters’ stake following the issuance of shares to the public.
| Share Holding Pre Issue | 99.98% |
| Share Holding Post Issue | 73.64% |
Key Performance Indicators (KPIs) of Australian Premium Solar (India) IPO
| KPI | Values |
| P/E (x) | 23.58 |
| Market Cap (₹ Cr.) | 106.6 |
| ROE | 26.05% |
| ROCE | 30.62% |
| Debt/Equity | 0.15 |
| EPS (₹) | 1.24 |
| RoNW | 23.05% |
P/E (Price-to-Earnings Ratio): The P/E ratio stands at 23.58, indicating the market’s valuation of the company concerning its earnings. This metric is fundamental for investors assessing the stock’s potential for future growth.
Market Cap (Market Capitalization): The company’s market cap is Rs. 106.6 Crores, representing the total market value of its outstanding shares. This metric offers insight into the company’s size within the market.
Return on Equity (ROE): Australian Premium Solar (India) IPO demonstrates an ROE of 26.05%, reflecting its ability to generate profits from shareholders’ equity, showcasing effective utilization of investments.
Return on Capital Employed (ROCE): With a robust ROCE of 30.62%, the company showcases efficient utilization of capital to generate profits, illustrating operational efficiency.
Debt/Equity Ratio: The company maintains a low Debt/Equity ratio of 0.15, indicating a conservative approach towards financing and a healthier balance between debt and equity.
Earnings Per Share (EPS): The EPS stands at Rs. 1.24, denoting the company’s profitability allocated to each outstanding share, a crucial factor for investors analyzing earnings potential.
Return on Net Worth (RoNW): The RoNW is noted at 23.05%, representing the return generated on the company’s net worth, indicating efficiency in utilizing shareholders’ funds.
Overview of Australian Premium Solar (India) Limited
Australian Premium Solar (India) Limited, established in 2013, specializes in the manufacturing of monocrystalline and polycrystalline solar modules alongside offering comprehensive engineering, procurement, and construction (EPC) services catering to residential, agricultural, and commercial sectors.
Solar Panel Manufacturing:
Monocrystalline Panels: Known for their high efficiency, these panels boast a uniform appearance due to their singular crystal structure, allowing strategic placement of busbars without compromising aesthetics.
Polycrystalline Panels: Characterized by a blue or speckled appearance due to their multicrystalline structure, these panels offer cost-effective options despite their less uniform appearance, requiring adaptable busbar placement.
Services Offered:
Installation Services: Catering to residential, industrial, and agricultural consumers, the company provides installation services for both solar panels and solar pumps.
Solar Pumps: Specifically, the company focuses on providing solar pump installations for agricultural users, contributing to sustainable irrigation practices.
Operational Milestones: By August 31, 2023, the company has successfully installed solar panels for over 10,000 customers. A vast majority, exceeding 9,500 installations, have been executed on residential rooftops. Additionally, the company has provided more than 1,300 solar pump installations for agricultural purposes, highlighting its diverse service portfolio.
Operational Infrastructure: The company’s manufacturing facility is situated in Sabarkantha, Gujarat, India, leveraging this strategic location for its production operations. As of July 31, 2023, the company’s workforce comprised 169 employees, enabling the execution of manufacturing and service operations efficiently.
Australian Premium Solar (India) Limited stands as a key player in the solar energy domain, focusing on quality production, diverse service offerings, and a growing footprint within the residential, agricultural, and commercial sectors in India.
Restated Financial Performance Australian Premium Solar (India) Limited’s
| Metrics | 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 |
Assets: Show a consistent upward trend, reaching Rs. 3,918.90 lakhs in 2023 from Rs. 3,468.37 lakhs in 2022.
Revenue: Declined slightly by -3.43% from Rs. 9,832.92 lakhs in 2022 to Rs. 9,495.86 lakhs in 2023.
Profit After Tax (PAT): Demonstrated notable growth, rising by 23.27% from Rs. 270.48 lakhs in 2022 to Rs. 333.43 lakhs in 2023.
Net Worth and Reserves: Both exhibited a steady increase over the three years, showcasing healthy financial stability and growth.
Total Borrowing: Decreased from Rs. 299.37 lakhs in 2022 to Rs. 222.13 lakhs in 2023, reflecting a reduction in borrowing.
Australian Premium Solar (India) IPO outlines specific objectives
Funding Capital Expenditure: A portion of the proceeds will be directed towards financing capital expenditure initiatives. This involves investments in infrastructure, technology, and development projects aimed at enhancing the company’s operational capacities and capabilities.
Meeting Working Capital Requirements: Another significant objective is to fulfill the company’s working capital needs. This includes managing day-to-day operational expenses, maintaining inventory, facilitating production cycles, and ensuring smooth business operations.
General Corporate Purposes: Some proceeds will be allocated towards general corporate purposes, which may encompass various business activities, expansions, strategic initiatives, or any other operational necessities deemed essential for the company’s growth and sustainability.
Meeting Public Issue Expenses: Additionally, a portion of the funds will cover the expenses associated with the public issue, including underwriting, legal, marketing, and administrative costs incurred in the process of launching the IPO.
The delineated allocation of funds showcases a strategic approach towards utilizing the IPO proceeds to fortify the company’s infrastructure, bolster working capital, support ongoing operations, and manage the expenses related to the public issue, ultimately contributing to Australian Premium Solar (India)’s growth and future endeavors.
