Australian Premium Solar IPO: Check GMP, third day subscription status, verification and other important details

Australian Premium Solar's IPO opened for subscription on Thursday 11 January and closes on Monday 15 January. The price range for Australian Premium Solar's IPO has been set in the range of ₹51 to ₹54 per share. The lot size of the Australian Premium Solar IPO consists of 2,000 shares. Investors can bid for at least 2,000 shares and multiples thereof.

According to its Red Herring Prospectus (RHP), the company is primarily engaged in manufacturing solar modules and providing EPC services for solar systems. Currently, the company's manufacturing facility in Sabarkantha, Gujarat, which is spread over 25,375 square meters and has a capacity of 200 MW per annum, produces both monocrystalline and polycrystalline solar modules.

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Preliminarily, the basis for allotment of the shares will be determined at Australian Premium Solar's IPO on Tuesday, January 16 and the company will issue refunds on Wednesday, January 17, while the shares will be dematted on the same day. be credited to the account of the allottee. Australian Premium Solar is expected to list on the NSE SME on Thursday, January 18.

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According to RHP, the company's listed competitor is Zodiac Energy Limited (with a P/E ratio of 40.79).

Between March 31, 2022 and March 31, 2023, Australian Premium Solar (India) Limited's profit after tax (PAT) increased by 23.27% while revenue decreased by -3.43%.

Australian Premium Solar IPO details

Australian Premium Solar IPO worth it ₹28.08 crore, is an all-new issue of 5,200,000 equity shares; According to RHP, there is no OFS (Offer for Sale) component.

The proceeds from the new issue will be used for the following purposes: financing capital expenditure, meeting working capital needs, promoting the overall objectives of the company and covering the costs of the public issue.

The underwriter of Australian Premium Solar (India) IPO is Beeline Capital Advisors Pvt Ltd and the registrar of the issue is Link Intime India Private Ltd. Spread X Securities is the market maker for the Australian Premium Solar (India) IPO.

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Australian Premium Solar IPO Subscription Status

The subscription status of Australian Premium Solar IPO is 460.26 times on the third day. The issue received positive response from retail investors whose share was subscribed 528.26 times and non-institutional buyers whose share was subscribed 772.06 times, as per data available on chittorgarh.com. QIBs subscribed 107.02 times.

According to chittorgarh.com, the company has received offers for 1,59,25,00,000 shares against 34,60,000 shares offered.

The subscription status of Australian Premium Solar IPO was 26.82 times on the first day and on the second day the issue was subscribed 70.63 times.

Australian Premium IPO GMP today

Today's Australian Premium IPO GMP or Gray Market Premium is +45. This suggests that the Australian premium share price was trading at a premium of ₹45 on the gray market, according to investorgain.com.

Taking into account the upper end of the IPO price range and the current gray market premium, the estimated listing price of the Australian premium share has been included ₹99 per piece, which is 83.33% higher than the IPO price of ₹54.

“Gray market premium” indicates investors’ willingness to pay more than the issue price.

Australian Premium IPO Review

“The company is active in the solar energy sector and offers services. It marked fluctuating sales with rising profits for the periods under review. Given the superannualized returns for FY24, the issue appears to be aggressively priced. The company operates in a highly competitive and fragmented segment. “Well-informed investors can invest funds for long-term returns,” said Dilip Davda, editor, Chittorgarh.

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Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, not Mint. We recommend investors consult certified experts before making an investment decision.

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