Oriana Power IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Oriana Power IPO will open on August 1 and close on August 3, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 59.66 crores through this public offering, consisting of 50.55 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 115 to ₹ 118 per share.
Oriana Power Limited (“the Company”)
Oriana Power Limited was incorporated in 2013. The company specializes in providing solar energy solutions to industrial and commercial customers. They offer 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)
In 2019, the company expanded its service portfolio to include floating solar installations, demonstrating its dedication to innovation and development. They are also close to exploring new avenues like Energy storage and Green Hydrogen.
Company Key Metrics
| Earning Per Share (EPS) | ₹ 17.5 per Equity Share |
| ROE | 1.97 |
| ROCE | 0.46 |
| Return on Net Worth (RoNW) | 34.10% |
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- 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.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 3,622 | 1,776 | 771 |
| Total Assets | 7,800 | 5,573 | 2,965 |
| Reserve & Surplus | 2,951 | 1,160 | 464 |
| Total Borrowings | 1,489 | 769 | 75 |
| Total Revenue | 13,395 | 10,147 | 3,377 |
| Profit After Tax | 1,269 | 696 | 282 |
IPO details
As per the DRHP filed with SEBI, 50.55 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 2.55 lakh shares of the offering. While Corporate Capitalventures Pvt Ltd will be the lead manager for the IPO, Skyline Financial Services Private Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 115 to ₹ 118 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,200 shares |
| Issue Size | 5,055,600 shares (aggregating up to ₹ 59.66 crores) |
| Fresh Issue | 5,055,600 shares (aggregating up to ₹ [.] crores) |
| Listing At | NSE SME |
Market Maker detail
| Market maker | Share India Securities |
| Market maker portion | 255,600 shares |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 50% of the net issue |
| NII (HNI) shares offered | Not more than 15% of the net issue |
| Retail shares offered | Not more than 35% of the net issue |
GMP: Oriana Power IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Oriana Power IPO
The issue opens for subscription on August 1, 2023, and closes for subscription on August 3, 2023 (both days inclusive). The basis of allotment will be finalised on August 8, 2023, and the refunds will be initiated on August 9, 2023. In addition, the demat credits are expected to happen on August 10, 2023, and the stock will be listed on the NSE SME on August 11, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | August 1, 2023, |
| Closing Date | August 3, 2023 |
| Basis of Allotment | August 8, 2023 |
| Initiation of Refunds | August 9, 2023 |
| A credit of shares to Demat A/c | August 10, 2023 |
| Listing Date | August 11, 2023 |
Lot Size
The lot size of the Oriana Power IPO is 1,200 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,200 shares of ₹ 141,600.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,200 | ₹ 141,600 |
| Retail (Maximum) | 1 | 1,200 | ₹ 141,600 |
| HNI (Minimum) | 2 | 2,400 | ₹ 283,200 |
Promoters Holdings
Mr. Anirudh Saraswat, Mr. Rupal Gupta, and Parveen Kumar are the promoters of the company.
| Pre-issue Shares Holdings | 83.40% |
| Post-issue Shares Holdings | 61.41% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Oriana Power Limited Flat No. 412A, Building No. 43, Chiranjiv Tower, Nehru Place, New Delhi – 110019 Phone: +91 – 78178 03330 Email: cs@orianapower.com Website: https://orianapower.com/ |
| IPO Registrar | Skyline Financial Services Private Ltd Phone: 02228511022 Email: ipo@skylinerta.com Website: https://www.skylinerta.com/ |
| IPO Lead Manager(s) | Corporate Capitalventures Pvt Ltd |
FAQs
What is Oriana Power’s IPO price?
The Oriana Power IPO price is ₹ 115 to ₹ 118 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Oriana Power IPO contains 1,200 shares of ₹ 141,600.
When will the Oriana Power IPO allotment be available?
The finalisation of the basis of allotment for the Oriana Power IPO will be done on August 8, 2023, and the allotted shares will be credited to your demat account by August 10, 2023. Check the Oriana Power IPO allotment status.
When will the Oriana Power IPO list on exchanges?
The Oriana Power IPO shares listing date is August 11, 2023.
How many Oriana Power IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the Net Issue, NII (HNI) is 15% of the net issue, and Retail is 35%.
