Oriana Power IPO

Oriana Power IPO will open for subscription from 01 August 2023. the company aims for an issue size of ₹59.66 Cr through this IPO.

Company Overview

Full nameOriana Power Limited
IndustryEngineering – Construction
Company Websitehttps://orianapower.com/

About Company

Incorporated in 2013, Oriana Power specializes in providing solar energy solutions to industrial and commercial customers. The company offers low-carbon energy solutions by installing on-site solar projects such as rooftop and ground-mounted systems, as well as off-site solar farms i.e. open access. Its business operations are primarily divided into two segments: Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO).

Under the CAPEX model, Oriana undertakes Engineering, Procurement, Construction, and Operation on behalf of the client. This model may be executed in various manners such as rooftop and ground-mounted systems, as well as off-site solar farms. Under the CAPEX model, it has delivered projects with a capacity exceeding 100 MWp across various locations across India and Kenya (Africa).

Under the RESCO model, it operates through 17 subsidiaries. Its subsidiaries provide solar energy solutions on a BOOT (Build, Own, Operate, Transfer) model basis, allowing the customers to enjoy the benefits of solar energy without the upfront investment. Currently, it has a diverse portfolio of 88 operational and under-construction projects with a capacity exceeding 35 MWp across various locations in India.

The company’s continuous efforts for development and expansion can also be justified by the list of projects which are in hand or are in the pipeline of its execution, or where it has been duly empanelled, to name a few:

  • Coal India Limited
  • Solar Energy Corporation of India Limited
  • Braithwaite & Co. Limited (Ministry of Railways)
  • NnB Paper Products Private Limited
  • Welspun India
  • Mrs. Bector Food Specialties Limited
  • Elgris Solar Power Limited
  • Abrel Renewables EPC Limited

The Objective of the Issue

  • Working capital requirement: This refers to the funds needed to cover day-to-day operating expenses, such as salaries, rent, utilities, and inventory.
  • Investment in subsidiary companies
  • Capital expenditure: This could include investments in technology, equipment, and infrastructure to support the growth and expansion of the business.

IPO Timetable

IPO Opening date01 August 2023
IPO Closing03 August 2023
Basis of Allotment08 August 2023
Initiation Refund09 August 2023
Credit to Demat Account10 August 2023
Listing Date11 August 2023

IPO details

Issue typeBook Built Issue IPO
IPO issue size₹59.66 Cr – 5,055,600 shares
Fresh Issue₹59.66 Cr – 5,055,600 shares
Offer for saleNil
Face value₹10 per share
Price Band₹115 to ₹118 per share
Lot size1200 Shares
Market Maker portion255,600 shares
Listing ExchangeNSE SME

IPO Lot Size

Retail (Min)11200₹141,600
Retail (Max)11200₹141,600
HNI (Min)22,400₹283,200

Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Financial Performance

 FY 2021FY 2022FY 2023
Net income2.826.9612.69
(Amount in ₹ Crores)

Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio6.57 – 6.74
RONW (%)19.3145.2834.10
ROCE (%)
EBITDA (%)10.2812.4314.47

Company Promoters

  • Mr. Anirudh Saraswat
  • Mr. Rupal Gupta
  • Parveen Kumar

Promoter Holding

Pre Issue Share Holding83.40%
Post Issue Share Holding61.41%

Lead Manager(s)

B1/E13, First Floor, Mohan Co-operative Industrial Estate,
Mathura Road, New Delhi – 110044
Phone: +91 11 – 41824066
Email: smeipo@ccvindia.com
Website: www.ccvindia.com

IPO Registrar

D-153 A, 1ST Floor, Okhla Industrial Area,
Phase- I, New Delhi- 110020
Phone: +91 -11 – 40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com

Contact Details

Flat No. 412A, Building No. 43,
Chiranjiv Tower, Nehru Place, New Delhi – 110019
Phone: +91 – 78178 03330
E-mail: cs@orianapower.com
Website: www.orianapower.com

Allotment Status

Oriana Power IPO allotment status will be available on Skyline Financial Services’ website. Click on this link to get allotment status.

Final thoughts

Oriana Power IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do 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

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