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Oriana Power IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. Capital Expenditure (CAPEX) and
  2. 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
ROE1.97
ROCE0.46
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:

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

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth3,6221,776771
Total Assets7,8005,5732,965
Reserve & Surplus2,9511,160464
Total Borrowings1,48976975
Total Revenue13,39510,1473,377
Profit After Tax1,269696282
(Amount in ₹ Lakhs)

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 TypeBook Built Issue IPO
IPO Price₹ 115 to ₹ 118 per share
Face Value₹ 10 per share
Market Lot1,200 shares
Issue Size5,055,600 shares (aggregating up to ₹ 59.66 crores)
Fresh Issue5,055,600 shares (aggregating up to ₹ [.] crores)
Listing AtNSE SME

Market Maker detail

Market makerShare India Securities
Market maker portion255,600 shares

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net issue
NII (HNI) shares offeredNot more than 15% of the net issue
Retail shares offeredNot 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 DateAugust 1, 2023,
Closing DateAugust 3, 2023
Basis of AllotmentAugust 8, 2023
Initiation of RefundsAugust 9, 2023
A credit of shares to Demat A/cAugust 10, 2023
Listing DateAugust 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)11,200₹ 141,600
Retail (Maximum)11,200₹ 141,600
HNI (Minimum)22,400₹ 283,200

Promoters Holdings 

Mr. Anirudh Saraswat, Mr. Rupal Gupta, and Parveen Kumar are the promoters of the company.

Pre-issue Shares Holdings83.40%
Post-issue Shares Holdings61.41%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationOriana Power Limited
Flat No. 412A, Building No. 43, Chiranjiv Tower, Nehru Place, New Delhi – 110019
Phone: +91 – 78178 03330
Email: [email protected]
Website: https://orianapower.com/
IPO RegistrarSkyline Financial Services Private Ltd
Phone: 02228511022
Email: [email protected]
Website: https://www.skylinerta.com/
IPO Lead Manager(s)Corporate Capitalventures Pvt Ltd

FAQs

The Oriana Power IPO price is ₹ 115 to ₹ 118 per share.

The minimum investment size is one lot for retail investors. One lot of the Oriana Power IPO contains 1,200 shares of ₹ 141,600.

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.

The Oriana Power IPO shares listing date is August 11, 2023.

The investors’ portion for QIB is 50% of the Net Issue, NII (HNI) is 15% of the net issue, and Retail is 35%.

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