Australian Solar (India) IPO To Open On January 11; Know Price Band, Lot Size And Other Details

Australian Premium Solar (India)'s Rs 28 crore initial public offering (IPO) will open for subscription on January 11. The IPO, which is a wholly fresh issue, will close on January 15.

Details of Australian Solar (India) IPO

Issue Size- The IPO is a fresh issue of 52 Lakh Shares. The company is aiming to raise Rs 28 crore.

Price Band of Australian Solar The company has decided on a price band at Rs 51-54 for the offering.

Lot Size- Investors can bid for at least 2,000 equity shares and multiples thereof.

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What does Australian Solar (India) do

Australian Premium Solar was Incorporated in 2013, which manufactures monocrystalline and polycrystalline solar panels and provides engineering, procurement and construction (EPC) services for residential, agricultural and commercial applications.

The company will use the raised funds for capital expenditure, working capital requirements, general corporate purposes and general issue expenses.

Australian Solar Finacial Performance

The company posted revenue of Rs 94.5 crore For the financial year ended March 2023, down 3.6 per cent from the previous year. However, net profit increased by 22 per cent to Rs 3.3 crore. Shimanbhai Ranjotbhai Patel, Savitaben Shimanbhai Patel and Nikunjkumar Shimanlal Patel are the promoters of the company.

Australian Solar Grey Market premium

The grey market premium (GMP) rose by Rs 30 or 55.5 per cent from the issue price of Rs 54 on January 10. GMP means the list price is Rs 84.

The grey market is an unofficial ecosystem where stocks start trading long before they are allocated until the day of listing.

Listing date

Australian Premium Solar (India) will list on NSE SME on January 18.

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