Australian Premium Solar SME IPO Day 1: Check Price Band, GMP, Review, And Other Details Here

The initial public offering (IPO) of Australian Premium Solar (India) opens for subscription today (January 11). The 28 core-IPO which is entirely a fresh issue, will close on January 15. This means, investors can place their bids for the offer from January 11 to January 15. Australian Premium Solar IPO is completely a fresh issue of 52 lakh shares. The allotment for the Australian Premium Solar IPO is likely to be finalized by January 16, 2024. The price band of the public issue has been set at Rs 51 to Rs 54 per share.

The minimum lot size for an application is 2000 Shares. At the upper price band, the minimum amount of investment required by retail investors is Rs 108,000. The company is looking to raise Rs 28.08 crores through this IPO and intends to use these funds for capital expenditure, to meet working capital requirements, general corporate purpose, and public issue expenses.

Australian Premium Solar (India) IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereafter. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to Rs 216,000.

Australian Premium Solar IPO Listing Date

Australian Premium Solar (India) IPO tentative listing date is January 18, 2024. The IPO will be listed on NSE SME.

Australian Premium Solar IPO GMP Today:

According to the IPOWatch website, the grey market premium (GMP)of Australian Premium Solar IPO today is Rs 30, over the issue price of Rs 54. The GMP implies a listing price of Rs 84.

Australian Premium Solar IPO Timetable:

Australian Premium Solar Limited IPO will remain open for subscription from January 11 to January 15, 2024. The share allotment date is expected to be on January 16, 2024, and the IPO will be listed on 18th January 2024 on the stock exchanges.

About Australian Premium Solar

Incorporated in 2013, Australian Premium Solar (APS) is a supplier of innovative and dynamic power solutions for Residential, Commercial, Industrial State/Central Governments, or utility applications.

The company manufactures monocrystalline and polycrystalline solar panels and offers engineering, procurement, and construction (EPC) services for residential, agricultural, and commercial applications.

For the year ended March 2023, APS reported a 3.6% decline in revenue at Rs 94.5 crore. However, the company's net profit grew 22% to Rs 3.3 crore.

Key Risks

• The Company is dependent on several customers for sales. Loss of any of this customer base may affect its revenues and profitability
• The Company highly depends on major raw materials and a few key suppliers who help us procure the same. The firm has not entered into long-term agreements with its suppliers for the supply of raw materials.
• The Company's revenues are highly dependent on its operations in the geographical region of the state of Gujarat. Any adverse development affecting its operations in this region could hurt the firm's business, financial condition, and results of operations.
• The Company conducts its business activities on a purchase order basis and therefore, has not entered into long-term agreements with customers.
• The company provides EPC service for solar rooftops and solar pumps and receives subsidies from state and central governments for the same. A reduction or discontinuation of such subsidy will result in a reduction in the number of potential consumers.