Australian Premium Solar IPO GMP

Australian Premium Solar Limited, an established player in the solar industry, is set to launch its SME IPO on NSE Emerge. This IPO comes with a total issue size of Rs 28.08 Crores, entirely in the form of fresh shares. The subscription period for this IPO is from January 11 to January 15, 2024, with each share having a face value of Rs 10. Investors can apply for a minimum of one lot, consisting of 2000 shares, or multiples thereof, within the price band of Rs 51 to Rs 54 per share, as outlined in the offer document.

In this blog, we will delve into the Grey Market Premium (GMP) of Australian Premium Solar IPO, its significance, and provide insights into the company’s background and objectives.

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Also Read: All IPO GMP Price Today

Understanding Australian Premium Solar IPO GMP

The Grey Market Premium (GMP) for Australian Premium Solar (India) SME IPO currently stands at ₹55, as of the latest update. With a price band of ₹54.00, the estimated listing price is projected to be ₹54 per share, considering the cap price and today’s GMP. This implies an expected percentage gain of 101.85% upon listing.

To provide a clear view of the GMP trend, the table below summarizes the historical GMP data for the IPO: [ Last Updated: 18 Jan, 2024; 09:00]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
18-01-2024₹54.00₹5583600₹109 (101.85%)
17-01-2024₹54.00₹5583600₹109 (101.85%)
16-01-2024₹54.00₹5076000₹104 (92.59%)
15-01-2024₹54.00₹4873000₹102 (88.89%)
14-01-2024₹54.00₹4263800₹96 (77.78%)
13-01-2024₹54.00₹4263800₹96 (77.78%)
12-01-2024₹54.00₹3553200₹89 (64.81%)
11-01-2024₹54.00₹3045600₹84 (55.56%)
10-01-2024₹54.00₹3045600₹84 (55.56%)
09-01-2024₹54.00₹3045600₹84 (55.56%)
08-01-2024₹54.00₹2436500₹78 (44.44%)
07-01-2024₹54.00₹1015200₹64 (18.52%)
06-01-2024₹54.00₹69100₹60 (11.11%)

It is essential to note that the IPO GMP can be highly volatile, and making investment decisions solely based on it can be risky. Therefore, investors should consider various factors before deciding whether to invest in the Australian Premium Solar (India) SME IPO.

What is IPO Grey Market Premium (GMP)?

The Grey Market Premium (GMP) represents the unofficial and unregulated market where IPO shares are traded before their official listing. GMP serves as an indicator of market sentiment and provides insight into how the IPO might perform on its listing day. A positive GMP suggests that the IPO may list at a premium, while a negative GMP indicates that it may list at a discount.

About Australian Premium Solar (India)

Australian Premium Solar Limited, established in 2013, has become a recognized brand in the solar industry. The company specializes in manufacturing mono and polycrystalline solar modules and provides engineering, procurement, and construction (EPC) services. Located in Tajpur, Sabarkantha, Gujarat, the company boasts a modern manufacturing facility that ensures the production of high-quality products equipped with the latest technology.

The company’s product range includes solar modules used in residential, agricultural, and commercial installations. Additionally, Australian Premium Solar offers installation services for solar panels and solar pumps, catering to both residential and industrial users, as well as agricultural customers. Their manufacturing facility in Sabarkantha, Gujarat, has a capacity of 200 MW per annum and produces both monocrystalline and polycrystalline solar modules.

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

Core Business Segments:

  • Manufacturing of solar panels
  • EPC Services:
    • Installation Services for Solar Rooftop
    • Installation of Solar Pump

Strengths of Australian Premium Solar (India) SME IPO

  1. Experienced Promoters and Management Team: The company is backed by a competent team with extensive industry knowledge and expertise.
  2. Long-term Client Relationships: Australian Premium Solar has established enduring relationships with its clients, ensuring a steady and loyal customer base.
  3. Scalable Business Model: The company’s business model allows for scalability, enabling it to adapt and expand as the solar industry continues to grow.
  4. Incorporation Year: Established in 2013, the company has a solid foundation in the solar sector.

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

IPO Objectives and Use of Proceeds

The funds raised from the Fresh Issue will be utilized for the following purposes:

  1. Funding Capital Expenditure.
  2. Meeting Working Capital Requirements.
  3. General Corporate Purposes.
  4. Covering Public Issue Expenses.

Australian Premium Solar (India) SME IPO Dates

The IPO timeline is as follows:

  • SME IPO Open Date: January 11, 2024
  • SME IPO Close Date: January 15, 2024
  • Basis of Allotment Finalization Date*: January 16, 2024
  • Refunds Initiation*: January 17, 2024
  • Credit of Shares to Demat Account*: January 17, 2024
  • SME IPO Listing Date*: January 18, 2024
  • – Tentative Dates
Australian Premium Solar IPO

Conclusion

The Australian Premium Solar (India) SME IPO presents an opportunity for investors to participate in the growth of a well-established company in the solar industry. However, it is crucial to base investment decisions on thorough research, considering various factors beyond the GMP. As the solar sector continues to thrive, Australian Premium Solar’s experience and scalable business model make it an intriguing proposition for potential investors.

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