Australian Premium Solar SME IPO: Check Out Price Band, Issue Size & More

The initial public offering (IPO) of Australian Premium Solar (India) opened for subscription on January 11, 2024, and it will close on January 15, 2024. The IPO, with a total value of Rs 28 crore, is exclusively a fresh issue comprising 52 lakh shares. The price band for the offer has been set at Rs 51-Rs 54 per share. Investors have the option to bid for a minimum of 2,000 equity shares and in multiples thereof.

Company Profile

Established in 2013, Australian Premium Solar specializes in the production of monocrystalline and polycrystalline solar panels. Additionally, the company provides engineering, procurement, and construction (EPC) services tailored for residential, agricultural, and commercial applications.

Company Financials

For the fiscal year ending in March 2023, the company recorded a revenue of Rs 94.5 crore, reflecting a 3.6 percent decrease compared to the preceding year. Despite this, the net profit showed a positive trend, increasing by 22 percent to reach Rs 3.3 crore.

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Price Band

The offer has set a price band for the shares at Rs 51 to Rs 54 each.

Issue Size

The issue comprises solely a fresh allocation of 52 lakh shares.

Objectives of the Issue

The company intends to utilize the funds for capital expenditure, meeting working capital requirements, general corporate purposes, and covering public issue expenses.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.