The subscription period for the Australian Premium Solar IPO began on Thursday, January 11, and it ends on Monday, January 15. The price range for the Australian Premium Solar IPO is ₹51 to ₹54 per share. The lot size for the Australian Premium Solar IPO is two thousand shares. A minimum of 2,000 shares, as well as multiples of those, are up for bid.
The company’s red herring prospectus (RHP) states that its primary business activities are the production of solar panels and the provision of EPC services for solar systems. For the time being, both monocrystalline and polycrystalline solar panels are produced at the company’s 25,375 square meter, 200 MW yearly manufacturing facility in Sabarkantha, Gujarat.
The Australian Premium Solar IPO’s tentative allotment basis is set to be finalized on Tuesday, January 16. The company will then begin refunding allottees on Wednesday, January 17, and the shares will be credited to their demat accounts on the same day. On Thursday, January 18, Australian Premium Solar is anticipated to go public on NSE SME.
Zodiac Energy Limited, which has a P/E of 40.79, is the company’s listed peer based on its RHP.
Australian Premium Solar (India) Limited’s revenue fell by -3.43% between March 31, 2022, and March 31, 2023, but its profit after tax (PAT) increased by 23.27%.
Australian Premium Solar IPO details
Australian Premium Solar’s ₹28.08 crore initial public offering (IPO) is entirely a new issuance of 5,200,000 equity shares; no offer for sale (OFS) component exists, according to RHP.
The company’s overall objectives will be furthered, working capital requirements will be met, capital expenditures will be financed, and public issue costs will be paid with the proceeds from the new issue.
Beeline Capital Advisors Pvt Ltd is the book running lead manager for the Australian Premium Solar (India) IPO, while Link Intime India Private Ltd is the issue registrar. The market maker for the Australian Premium Solar (India) IPO is Spread X Securities.
Australian Premium Solar IPO subscription status
On day three, the subscription status for the Australian Premium Solar IPO is 460.26 times. The issue received positive response from retail investors who’s portion set was subscribed 528.26 times, and non-institutional buyers who’s portion was subscribed 772.06 times, as per data available on chittorgarh.com. QIBs subscribed 107.02 times.
Chittorgarh.com data indicates that the company has received bids for 1,59,25,00,000 shares, while 34,60,000 shares are on offer.
On day 1, there were 26.82 subscriptions to the Australian Premium Solar IPO; on day 2, there were 70.63 subscriptions.
Australian Premium IPO GMP today
Australian Premium IPO GMP today or grey market premium is +45. According to investorgain.com, this suggests that the price of Australian Premium shares were trading at a premium of ₹45 on the black market.
The estimated listing price of Australian Premium shares was indicated at ₹99 apiece, which is 83.33% higher than the IPO price of ₹54, taking into account the upper end of the IPO price band and the current premium in the grey market.
Investor willingness to pay over the issue price is indicated by the “grey market premium.”
Australian Premium IPO Review
“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,” said Dilip Davda, the contributing editor at Chittorgarh.
