Bright Solar Rights Issue will open for subscription from 03 April 2023. the company aims for an issue size of ₹4.60 Crores through this rights Issue.
About the company
Incorporated in 2010, Bright Solar Limited is engaged in developing, manufacturing, and selling high-quality products that run on clean and cost-friendly solar energy. They are among the innovation-driven entities striving at creating solar-powered water pumping mechanisms which not only serve the customers efficiently but are also good for the environment.
The products of Bright Solar Limited are:
- Solar Water Pump Systems
- DC Solar Pumps
- AC Solar Pumps
- Solar Pumping Controller – Inverter
- Solar Panel/Modules
- Bright Solar Mart
- Solar Rooftops
Objectives of the Issue
- The Company intends to utilize the proceeds raised through the issue towards funding the incremental working capital requirements of the company.
Bright Solar Rights Issue Timetable
| Record Date | 06 February 2023 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 03 April 2023 |
| Renunciation of Rights Entitlements | 06 April 2023 |
| Bid/Offer Closes On | 10 April 2023 |
| Deemed Date of Allotment | 17 April 2023 |
| Credit Date | 20 April 2023 |
| Listing Date | 28 April 2023 |
Rights Issue Details
| Issue Open | Apr 3, 2023 – Apr 10, 2023 |
| Security Name | Bright Solar Limited |
| Issue Size (Shares) | 4,600,000 |
| Issue Size (Amount) | ₹4.60 Crores |
| Issue Price | ₹10 per share |
| Face Value | ₹10 per share |
| Listing At | NSE |
| Terms of Payment | The full amount of the Issue Price is payable on the Application. |
| Entitlement | 2 Equity Share for every 9 fully paid-up Equity Share held on the Record Date |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 50.37 | 24.78 | 0.18 |
| 31-Mar-22 | 40.90 | 7.49 | -7.37 |
Rights Issue Documents
Lead Manager(s)
Rights Issue Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/
Company Contact Information
Bright Solar Limited
Bright Solar Limited C-103,
Titanium Square, Thaltej Circle, S.G.Highway,
Ahmedabad – 380059
Phone: +91-9377756205
Email: sales@brightsolar.co.in
Website: https://www.brightsolarltd.com/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
