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 name | Oriana Power Limited |
| Sector | Infrastructure |
| Industry | Engineering – Construction |
| Company Website | https://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 date | 01 August 2023 |
| IPO Closing | 03 August 2023 |
| Basis of Allotment | 08 August 2023 |
| Initiation Refund | 09 August 2023 |
| Credit to Demat Account | 10 August 2023 |
| Listing Date | 11 August 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹59.66 Cr – 5,055,600 shares |
| Fresh Issue | ₹59.66 Cr – 5,055,600 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹115 to ₹118 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 255,600 shares |
| Listing Exchange | NSE SME |
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 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 33.74 | 100.77 | 132.94 |
| Expenses | 29.96 | 92.14 | 116.32 |
| Net income | 2.82 | 6.96 | 12.69 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 27.40 | 22.60 | 17.50 |
| PE ratio | – | – | 6.57 – 6.74 |
| RONW (%) | 19.31 | 45.28 | 34.10 |
| NAV | 17.19 | 24.88 | 47.74 |
| ROCE (%) | 51.0 | 49.0 | 46.0 |
| EBITDA (%) | 10.28 | 12.43 | 14.47 |
| Debt/Equity | 0.10 | 0.43 | 0.41 |
Company Promoters
- Mr. Anirudh Saraswat
- Mr. Rupal Gupta
- Parveen Kumar
Promoter Holding
| Pre Issue Share Holding | 83.40% |
| Post Issue Share Holding | 61.41% |
Lead Manager(s)
CORPORATE CAPITALVENTURES PRIVATE LIMITED
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
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
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
ORIANA POWER LIMITED
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
