Australian Premium Solar IPO: Australian Premium Solar India Limited IPO Details

As the world gravitates towards sustainable energy solutions, Australian Premium Solar (India) Limited steps into the limelight with its Initial Public Offering (IPO), bringing a fresh wave of opportunity for investors seeking exposure to the burgeoning solar energy sector. In this detailed blog, we delve into the key aspects of the IPO, shedding light on the company’s background, financials, objectives, and much more.

IPO Details

  • IPO Date: January 11, 2024, to January 15, 2024
  • Basis of Allotment: Tuesday, January 16, 2024
  • Listing Date: January 18, 2024
  • Face Value: ₹10 per share
  • Price Band: ₹51 to ₹54 per share
  • Lot Size: 2000 Shares
  • Total Issue Size: 5,200,000 shares (₹28.08 Cr)
  • Issue Type: Book Built Issue IPO
  • Listing At: NSE SME
  • Market Maker portion: 260,000 shares

Also See: Upcoming IPO in India

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IPO Reservation

Investor CategoryShares Offered
Anchor Investor1,480,000 (28.46%)
Market Maker260,000 (5.00%)
QIB988,000 (19.00%)
NII (HNI)742,000 (14.27%)
Retail1,730,000 (33.27%)
Total Shares Offered5,200,000 (100%)

Also Read: Upcoming IPOs in 2024: 11 expected issues in the new year; check out the full list

IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The table below depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (Min)12000₹108,000
Retail (Max)12000₹108,000
HNI (Min)24,000₹216,000

Company Profile

Australian Premium Solar (India) Limited was incorporated in 2013, specializing in the manufacturing of monocrystalline and polycrystalline solar modules. The company extends its services to residential, agricultural, and commercial applications through engineering, procurement, and construction (EPC) projects.

The company produces two types of solar panels:

  1. Monocrystalline Solar Panels: Known for their efficiency and uniform appearance due to a monocrystalline structure.
  2. Polycrystalline Solar Panels: Characterized by a blue or speckled appearance from their multicrystalline structure.

Additionally, the company provides installation services for solar panels and solar pumps for various end-users, including residential, industrial, and agricultural applications.

As of August 31, 2023, Australian Premium Solar has successfully installed solar panels for over 10,000 customers, with the majority placed on residential buildings and solar pumps for agricultural use.

The manufacturing facility is situated in Sabarkantha, Gujarat, India, and the company employs 169 individuals as of July 31, 2023.

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

Financial Snapshot

The financial performance of Australian Premium Solar (India) Limited indicates resilience and growth:

  • Revenue: Decreased by -3.43%
  • Profit After Tax (PAT): Rose by 23.27%

This growth between the financial years ending March 31, 2022, and March 31, 2023, reflects the company’s ability to navigate challenges while ensuring profitability.

Period Ended31 Jul 202331 Mar 202331 Mar 202231 Mar 2021
Assets4,416.893,918.903,468.373,501.67
Revenue5,027.289,495.869,832.927,443.97
Profit After Tax113.16333.43270.48180.11
Net Worth1,563.371,446.621,113.19847.10
Reserves and Surplus109.371,444.621,111.19845.10
Total Borrowing196.23222.13299.37328.96
Amount in ₹ Lakhs

Also Read: When Can a Company Go for IPO in India

Promoter Holding

The company’s 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%

IPO Objectives

The proceeds from the fresh issue will be utilized for:

  1. Funding capital expenditure.
  2. Meeting working capital requirements.
  3. General corporate purposes.
  4. Meeting public issue expenses.

Also Read: What is IPO?: Benefits of Investing in an IPO

IPO Timeline

  • 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

Registrar and Lead Manager(s)

In conclusion, the Australian Premium Solar (India) IPO presents a compelling investment opportunity in the growing solar energy sector. As the world transitions towards sustainable energy solutions, this IPO is poised to contribute to the renewable energy landscape. Investors are encouraged to conduct thorough due diligence and consider the long-term potential of Australian Premium Solar (India) Limited before making investment decisions.

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