Orient Green Power Rights Issue will open for subscription from 28 August 2023. the company aims for an issue size of ₹230 Crores through this rights Issue.
About the company
Incorporated in 2006, Orient Green Power Company Limited is engaged in the business of developing, owning, and operating a diversified portfolio of renewable energy plants based on biomass, biogas wind energy, and small hydel projects.
Orient Green Power is the largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity. Currently, the company’s portfolio includes biomass, biogas, wind energy, and small hydroelectric projects at various stages of development.
As of March 31, 2023, the company’s total portfolio of operating projects included 402.3 MW of aggregate installed capacity. Orient Green Power Company has a total of 45 customers which includes 2 state-owned utilities and 43 commercial and industrial consumers. The company recorded ₹ 25,831 lacs, ₹ 31,063 lacs, and ₹ 25,475 lacs revenues from operations for Fiscals 2023, 2022, and 2021 respectively.
Objectives of the Issue
- Repayment of unsecured loans due from the company to Janati Bio Power Private Limited, one of the Promoters of the company,
- Part repayment or pre-payment of unsecured loans to Janati Bio Power Private Limited, one of the Promoters of the company availed by Bharath Wind Farm Limited, one of the wholly owned subsidiaries of the company,
- Repayment/ Pre-payment of certain secured loans including interest availed from lenders of the Company either in part or full,
- Part repayment of secured loans including interest availed from lenders by Amrit Environmental Technologies Private Limited.
- Part repayment or pre-payment of unsecured loans including interest availed from Beta Wind Farm Private Limited.
- General Corporate Purposes.
Rights Issue Timetable
| Last Date to buy shares | 17 August 2023 |
| Record Date | 18 August 2023 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 28 August 2023 |
| Renunciation of Rights Entitlements | 11 September 2023 |
| Bid/Offer Closes On | 15 September 2023 |
| Deemed Date of Allotment | 23 September 2023 |
| Credit Date | 27 September 2023 |
| Listing Date | 29 September 2023 |
Orient Green Power Rights Issue Details
| Issue Open | Aug 28, 2023 – Sep 15, 2023 |
| Security Name | Orient Green Power Company Limited |
| Issue Size (Shares) | 230,000,000 |
| Issue Size (Amount) | ₹230.00 Crores |
| Issue Price | ₹10 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The entire amount of the Issue Price of ₹ 10/- per Rights Equity Share shall be payable at the time of Application. |
| Entitlement | 19 Rights Equity Share(s) for every 62 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 1,893.25 | 1,831.06 | 1,692.11 |
| Revenue | 261.27 | 315.22 | 290.21 |
| Profit After Tax | -50.71 | 46.55 | 35.10 |
| Net Worth | 456.20 | 489.46 | 523.62 |
| Total Borrowing | 1,324.61 | 1,215.00 | 1,073.59 |
Rights Issue Documents
Lead Manager(s)
- GYR Capital Advisors Private Limited
- Saffron Capital Advisors Private Limited
Rights Issue Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: cameo@cameoindia.com
Website: https://ipo.cameoindia.com/
Company Contact Information
Orient Green Power Company Limited
Bascon Futura SV, 4th Floor,
No.10/1, Venkatanarayana Road,
T. Nagar, Chennai – 600 017
Phone: +91 444 901 5678
Email: complianceofficer@orientgreenpower.com
Website: http://www.orientgreenpower.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
