Nihal PS Oriana Power, the solar energy solutions giant, is opening its IPO subscription today, with soaring interest in the gray market. Here are the key points you need to know:
1. Oriana Power IPO Details
- Subscription Dates: Open till August 3
- Price Band: Rs 115-118 per share
- Lot Size: 1200 shares
- Total IPO Size: Rs 59.66 crore
- Shares Issued: 50,55,600 equity shares of Rs 10 face value
- Investor Allocation: QIBs (50%), NIIs (15%), Retail (35%)
- Allotment Date: August 8
- Listing on NSE SME: August 11
2. Gray Market Premium (GMP)
The gray market is buzzing with Oriana Power’s shares trading at an impressive Rs 103, commanding a premium of 87.29%! While it’s exciting, experts suggest looking beyond the gray market for investment decisions.
3. Oriana Power’s Focus and Growth
Oriana Power specializes in solar system installations, with two key business divisions:
- CAPEX: Undertaking solar projects’ engineering, procurement, construction, and operation.
- RESCO: Providing solar energy solutions based on the BOOT model (Build, Own, Operate, Transfer).
4. Strong Financial Performance
The company’s financials reflect its strength and growth potential:
- FY 2021: Net profit of Rs 2.82 crore
- FY 2022: Net profit rose to Rs 6.95 crore
- FY 2023: Impressive jump to Rs 12.69 crore net profit
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