Australian Premium Solar IPO will open for subscription from 11 January 2024. The company aims for an issue size of ₹28.08 Cr through this IPO.
Company Overview
| Full name | Australian Premium Solar (India) Limited |
| Sector | Electricals |
| Industry | Electronics – Components |
| Company Website | https://australianpremiumsolar.co.in/ |
About Company
Australian Premium Solar (India) specializes in the production of Solar Panels and provides Engineering, Procurement, and Construction (EPC) Services for solar systems. The industry term for solar panels is PV Module (Photovoltaic Module), denoting a setup designed to generate electricity from sunlight by utilizing semiconductor materials in devices known as photovoltaic cells or solar cells. In the solar panel segment, the company currently manufactures both monocrystalline and polycrystalline solar panels. The manufacturing facility spans 25,375 square meters in Sabarkantha, Gujarat, with a production capacity of 200 Megawatts per annum.
The company produces two types of solar panels: (i) Monocrystalline Solar Panels, characterized by more efficiency and a uniform, darker appearance resulting from their single-crystal structure. This structure allows for the strategic placement of bus bars (Copper-coated thin strips) without significant visual impact. (ii) Polycrystalline Solar Panels, distinguished by a blue or speckled appearance due to their multiple crystal structures. In these panels, bus bars may need to be positioned to accommodate the less uniform look of the cells.
Australian Premium Solar (India) also offers installation services for both solar panels and solar pumps. As of 31 August 2023, the company has successfully served over 10,000 distinct customers in the installation of solar modules. Among these installations, over 9,500 were rooftop installations catering to residential use, and more than 1,300 installations were dedicated to solar pumps for agricultural purposes.
The Objectives of the Issue
- Funding capital expenditure.
- To Meet Working Capital Requirements.
- General Corporate Purpose.
- To meet Public Issue Expenses.
Australian Premium Solar IPO Timetable
| IPO Opening date | 11 January 2024 |
| IPO Closing | 15 January 2024 |
| Basis of Allotment | 16 January 2024 |
| Initiation Refund | 17 January 2024 |
| Credit to Demat Account | 17 January 2024 |
| Listing Date | 18 January 2024 |
Australian Premium Solar IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹28.08 Cr – 5,200,000 shares |
| Fresh Issue | ₹28.08 Cr – 5,200,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot size | 2000 Shared |
| Market Maker portion | 260,000 shares |
| Shareholding pre-issue | 14,540,000 |
| Shareholding post-issue | 19,740,000 |
| Listing Exchange | NSE SME |
Australian Premium Solar IPO Lot Size
| 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 IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,480,000 (28.46%) |
| Market Maker Shares Offered | 260,000 (5.00%) |
| QIB Shares Offered | 988,000 (19.00%) |
| NII (HNI) Shares Offered | 742,000 (14.27%) |
| Retail Shares Offered | 1,730,000 (33.27%) |
| Total Shares Offered | 5,200,000 (100%) |
Australian Premium Solar Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 4M FY 2024 | |
| Revenue | 74.16 | 98.12 | 94.56 | 50.17 |
| Expenses | 72.03 | 94.67 | 90.44 | 48.76 |
| Net income | 1.80 | 2.70 | 3.33 | 1.13 |
Australian Premium Solar Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.24 | 1.86 | 2.29 |
| PE ratio | – | – | 22.27 – 23.58 |
| RONW (%) | 21.26 | 24.30 | 23.05 |
| NAV | 5.83 | 7.66 | 9.95 |
| ROCE (%) | 25.94 | 29.21 | 30.62 |
| EBITDA (%) | 4.75 | 5.25 | 6.16 |
| Debt/Equity | 0.39 | 0.27 | 0.15 |
Company Promoters
- Mr. Chimanbhai Ranchhodbhai Patel
- Mrs. Savitaben Chimanbhai Patel
- Mr. Nikunjkumar Chimanlal Patel.
Promoter Holding
| Pre Issue Share Holding | 99.98% |
| Post Issue Share Holding | 73.64% |
Australian Premium Solar Lead Manager(s)
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
Shilp Corporate Park, B Block, 13th Floor,
B-1311-1314, Near Rajpath Club, RajpathRangoli Road,
S.G. Highway, Ahmedabad, Gujarat- 380054
Phone: 079 4918 5784
Email: mb@beelinemb.com
Website: www.beelinemb.com
Australian Premium Solar Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 22 4918 6200
Email: australianpremium.ipo@linkintime.co.in
Website: www.linkintime.co.in
Australian Premium Solar Contact Details
AUSTRALIAN PREMIUM SOLAR (INDIA) LIMITED
Tajpur, NH-08 TA-Prantij,
Sabarkantha Gujarat- 383205 India
Phone: +91 87359 32511
E-mail: compliance@australianpremiumsolar.co.in
Website: www.australianpremiumsolar.co.in
Australian Premium Solar IPO Allotment Status
Australian Premium Solar IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
Australian Premium Solar IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
