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Incorporated in 2013, Australian Premium Solar (India) Limited manufactures monocrystalline and polycrystalline solar modules and provides engineering, procurement, and construction (EPC) services for residential, agricultural, and commercial applications.
The company manufactures two types of solar panels:
- Monocrystalline solar panels: The solar cells used in monocrystalline solar panels are more efficient and have a darker, uniform appearance due to their monocrystalline structure, allowing the busbars (copper-coated thin ribbons) to be placed more strategically without significantly detracting from the appearance.
- Polycrystalline solar panels: Solar cells used in polycrystalline solar panels have a blue or speckled appearance due to their multicrystalline structure; busbars may need to be positioned to accommodate the less uniform appearance of these cells.
Australian Premium Solar (India) IPO Details
| IPO Date | January 11, 2024 to January 15, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 5,200,000 shares (aggregating up to ₹28.08 Cr) |
| Fresh Issue | 5,200,000 shares (aggregating up to ₹28.08 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 14,540,000 |
| Share holding post issue | 19,740,000 |
| Market Maker portion | 260,000 shares |
Australian Premium Solar (India) IPO Timeline (Tentative Schedule)
Australian Premium Solar (India) IPO opens on January 11, 2024, and closes on January 15, 2024.
| 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 |
Australian Premium Solar (India) IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
Australian Premium Solar (India) IPO Promoter Holding
The company 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% |
Australian Premium Solar (India) IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| 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 |
Australian Premium Solar (India) Financial Information
Australian Premium Solar (India) Limited’s revenue decreased by -3.43% and profit after tax (PAT) rose by 23.27% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 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 |
| Amount in ₹ Lakhs | |||
Key Performance Indicator
Australian Premium Solar (India) IPO Market Cap is Rs 106.6 Cr and P/E (x) is 23.58.
| KPI | Values |
|---|---|
| P/E (x) | 23.58 |
| Market Cap (₹ Cr.) | 106.6 |
| ROE | 26.05% |
| ROCE | 30.62% |
| Debt/Equity | 0.15 |
| EPS (Rs) | 1.24 |
| RoNW | 23.05% |
Objects of the Issue (Australian Premium Solar (India) IPO Objectives)
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- Funding capital expenditure.
- To Meet Working Capital Requirements.
- General Corporate Purpose.
- To meet Public Issue Expenses.
