Oriana Power was incorporated on February 21, 2013. The company specializes in providing solar energy solutions to industrial and commercial customers. It offers 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.
| Bidding Dates |
|---|
| 01 Aug 2023 - 03 Aug 2023 |
| Subscription |
|---|
| 117.41x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,41,600 | 1 | 1 | 1200 | 5.1 M | ₹115 - ₹118 | 73.64 % | ₹581.4 M - ₹596.6 M | RHP DOC |
Oriana Power IPO SUBSCRIPTION STATUS
03 Aug '23Oriana Power IPO overall subscription rate was 117.41 times the total available shares
Oriana Power IPO retail subscription rate was 193.72 times in the retail segment
Oriana Power IPO non-institutional investor subscription rate was 239.34 times in the non-institutional investor category
Oriana Power IPO Qualified Institutional Bidder subscription rate was 27.4 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
03 Aug 2023 (Day 3) | 193.72x | 239.34x | 27.4x |
02 Aug 2023 (Day 2) | 64.22x | 22.84x | 1.44x |
01 Aug 2023 (Day 1) | 21.38x | 8.01x | 0.08x |
Oriana Power FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY23 | 126.9 | 1,329.4 | 132.0 | 119.1 |
| FY22 | 69.6 | 1,007.7 | 8.2 | 7.5 |
| FY21 | 28.2 | 337.4 | 19.6 | 19.2 |
Oriana Power IPO SUBSCRIPTION STATUS DETAILS
Oriana Power had 5.1 M shares on offer
Oriana Power IPO offer price was in the range ₹115 - ₹118
Oriana Power IPO minimum Investment was ₹141600
Oriana Power IPO issue size was ₹ 581.4 M - ₹ 596.6 M
Oriana Power had a minimum lot size of 1200 Shares per application
Oriana Power NUMBER OF SHARES ON OFFER
Oriana Power IPO IMPORTANT DATES
| Issue Open Date | 01 Aug 2023 |
| Issue close Date | 03 Aug 2023 |
| Allotment Date | 08 Aug 2023 |
| Refund Date | 09 Aug 2023 |
| Demat Account Credit Date | 10 Aug 2023 |
| Listing Date | 11 Aug 2023 |
| Listing on Exchange(s) | NSE |
| Oriana Power Allotment Status | Exchange |
Oriana Power IPO subscription opened on 01 Aug 2023, and closed on 03 Aug 2023
IPO allotment for Oriana Power was finalized on Tuesday, 08 Aug 2023
IPO listing for Oriana Power was on NSE on Friday, 11 Aug 2023
Oriana Power IPO LISTING GAINS
| Issue Price (adjusted) | 118.0 |
| Listing Open Price | 302.0 |
| Listing Close Price | 317.1 |
| Listing Gain% | 155.9% |
| Current Gain% | 1127.8% |
Oriana Power Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oriana Power Ltd. | 1448.8 | 2779.2 | 11.7 | 0.2 | 1.5 | 33 | 9.8 | 1841 | 84.5 | 252 | 59 | 124 | 50.1 |
| Adani Green Energy Ltd. | 1372.4 | 226058.5 | 126.7 | 29.7 | 16.7 | 8.6 | 1.1 | 13819 | 11.2 | 1652 | 14.4 | 10.8 | 4.3 |
| Siemens Energy India Ltd. | 3648.8 | 129941.2 | 87.3 | 1.9 | 13.8 | 25.1 | 11.5 | 7932 | 66.6 | 1100.1 | 83.4 | 41.8 | 46.7 |
| NHPC Ltd. | 76.9 | 77266.4 | 20.4 | 0.8 | 6.3 | 9.1 | 3.1 | 12686.1 | 8.2 | 3765.7 | 25.2 | 3.8 | 24.1 |
| NTPC Green Energy Ltd. | 91.5 | 77100.9 | 127 | 13.9 | 23.5 | 2.8 | 0.9 | 3035.1 | 23.1 | 522.6 | 9.9 | 0.7 | 9.2 |
| SJVN Ltd. | 68 | 26706.9 | 41.8 | -5.6 | 5.3 | 4.5 | 1.2 | 4722.8 | 39.9 | 642.1 | -21.7 | 1.6 | -7.4 |
Oriana Power IPO Reports
Oriana Power INFORMATION ON IPO ISSUE
About Oriana Power
Oriana Power was incorporated on February 21, 2013. The company specializes in providing solar energy solutions to industrial and commercial customers. It offers 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.
Object of the Issue
- 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
Oriana Power - PROMOTERS
| Name |
|---|
| Anirudh Saraswat |
| Rupal Gupta |
| Parveen Kumar |
Oriana Power Lead Manager to the Issue
Corporate Capital Ventures Private Limited
smeipo@ccvindia.com
Oriana Power Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Oriana Power Strengths
Visible order book
The company had an EPC project portfolio of more than 80 MW across India and Africa, which combined 4+ MW of projects under floating solar, 13+ MW projects in ground-mounted, and 55+ MW projects in rooftop
Favourable national policy
In the Union Budget 2022-23, the government allocated Rs 19,500 crore for a PLI scheme aimed at boosting the manufacturing of high-efficiency solar modules. Additionally, India launched the Mission Innovation Clean Tech Exchange, a global initiative designed to accelerate clean energy innovation
24/7 premium support system
The company employs a unique approach to support its clients and maximize solar yield through dedicated remote monitoring and an analytic platform
Oriana Power Risks
Competitive industry
As the company operates in a competitive industry, there is a possibility that it may not be successful in bidding for and winning bids for solar power projects to expand its global business. Such an outcome could have a material adverse effect on the company's business
Unsecured loan
The company has taken an unsecured loan of Rs 1,104.65 Lakh, which is repayable on demand. If the lenders demand repayment of this unsecured loan, it may have an impact on the company's financial condition
Corporate guarantees
The company has provided corporate guarantees amounting to Rs 7,437.00 Lakh for the loans taken by its subsidiaries and associate companies. However, the company cannot guarantee that there will be no defaults by its subsidiaries in the future
IPO FAQs
The promoters of the company are Anirudh Saraswat, Rupal Gupta and Parveen Kumar.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 115.0 - 118.0.
The IPO application opens on Aug 01, 2023 and closes on Aug 03, 2023.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 141,600.0, the maximum value for this IPO is Rs 141,600.0.
This IPO will be allotted on Aug 08, 2023.
The refund will be credited to your account on Aug 09, 2023.
The allotted shares will be credited to your demat on Aug 10, 2023.
Oriana Power Ltd.’s shares listed on the stock exchanges on Aug 11, 2023.