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:

  1. 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.
  2. 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:

  1. Funding capital expenditure.
  2. To Meet Working Capital Requirements.
  3. General Corporate Purpose.
  4. To meet Public Issue Expenses.