📰 Join for the Latest Finance Updates → |
Oriana Power Company Details
Oriana Power Limited, incorporated in 2013, provides solar energy solutions. They offer services to commercial and individual customers.
Their vision has always been to provide high-quality solar energy solutions for organizations and individuals using sustainable and renewable energy sources for a better future.
Oriana Power Limited’s Operations can be divided into the following categories: capital expenditure(CAPEX), which involves engineering, procurement, construction, and operation of solar projects.
Oriana Power IPO is set for open subscription on Tuesday, August 1, and the issue will conclude on August 3. The final allotment of shares is expected to be made by August 8th. The company’s shares are likely to be listed on August 11th on the NSE Emerge platform.
Objectives of Oriana Power IPO
The objectives of the issue are
- Investment in subsidiary companies
- Working capital requirement: this refers to the fund required to cover day-to-day expenses such as utility bills, rent, inventory, and other expenses.
- Capital expenditure: this involves investments in equipment, technology, and infrastructure to support the growth and expansion of the business.
Oriana Power IPO Details
| IPO Date | Aug 1, 2023 to Aug 3, 2023 |
| Listing Date | Friday, 11 August 2023 |
| Face Value | ₹10 per share |
| Price | ₹115 to ₹118 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 5,055,600 shares (aggregating up to ₹59.66 Cr) |
| Fresh Issue | 5,055,600 shares (aggregating up to ₹59.66 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
Oriana Power IPO Tentative Timetable
| IPO Open Date | Tuesday, 1 August 2023 |
| IPO Close Date | Thursday, 3 August 2023 |
| Basis of Allotment | Tuesday, 8 August 2023 |
| Initiation of Refunds | Wednesday, 9 August 2023 |
| Credit of Shares to Demat | Thursday, 10 August 2023 |
| Listing Date | Friday, 11 August 2023 |
Must Read: Why Warren Buffett doesn't invest in IPOs? (He has 3 reasons)
Oriana Power IPO Reservation
At present, the promoter’s shareholding stake stands at 83.40 per cent. After the initial public offering, the stake in the company will be reduced to 61.40 per cent, as per DRHP.
50% of the public offering has been reserved for qualified institutional buyers, 15% for non-institutional buyers, and the remaining 35% for retail investors.
| Anchor Investor Shares Offered | 1,440,000 (28.48%) |
| Market Maker Shares Offered | 255,600 (5.06%) |
| QIB Shares Offered | 960,000 (18.99%) |
| NII (HNI) Shares Offered | 720,000 (14.24%) |
| Retail Shares Offered | 1,680,000 (33.23%) |
| Total Shares Offered | 5,055,600 (10 |
Oriana Power IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹141,600 |
| Retail (Max) | 1 | 1200 | ₹141,600 |
| HNI (Min) | 2 | 2,400 | ₹283,200 |
Oriana Power Financials
Oriana Power Financials has reported consolidated revenue of Rs 137.71 crore for the year ended March 2023, a growth of 9.87 per cent compared to Rs 124.97 crore in the previous period.
The consolidated profit after tax soared to Rs 10.93 crore as against Rs 6.94 crore, rising 57.94 percent on the year.
The company recently introduced TrueRe as its corporate brand, highlighting the need to diversify into other renewable sources of energy beyond solar
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-21 | 2,964.83 | 3,376.98 | 282.38 | 771.29 | 464.29 | 75.23 |
| 31-Mar-22 | 5,572.69 | 10,146.86 | 695.53 | 1,775.82 | 1,159.82 | 769.07 |
| 31-Mar-23 | 7,799.99 | 13,395.37 | 1,268.52 | 3,621.84 | 2,950.84 | 1,489.19 |
Oriana Power GMP
Ahead of the subscription opening, the shares of the company are commanding a premium of Rs 103 in the unlisted market, according to market sources.
Wrap Up on Oriana Power IPO
Oriana Power has already generated considerable buzz in the market since it has attracted well-known investors ahead of its IPO.
The firm is expected to offer its shares at a price band of Rs 115 to Rs 118, and investors can bid for 1200 shares in a single lot. The Oriana Power IPO comprises fresh equity of up to Rs 50.5 lakh shares, aggregating to Rs 59.6 crore.
Don't Miss: 12 Upcoming IPOs in August 2023 (Full List)
📰 Join for the Latest Finance Updates → |
