MUMBAI - Australian Premium Solar (India) has initiated its initial public offering (IPO) today, seeking to gather Rs 28.08 crores in capital. The company, known for its specialization in solar panel manufacturing and EPC (engineering, procurement, and construction) services, has set the share price range at Rs 51 to Rs 54.
In the last fiscal year, Australian Premium Solar reported a revenue of Rs 94.5 crore along with a profit of Rs 3.3 crore. The IPO has attracted considerable attention from investors, as evidenced by a grey market premium (GMP) of Rs 30. This figure suggests that the shares are being traded in the grey market at a price Rs 30 higher than the upper price band of the IPO, reflecting strong investor interest ahead of the public offering.
The IPO subscription window is scheduled to close on Monday, with the process of share allotment to take place the following day. The company anticipates its shares will be listed on the NSE SME exchange on January 18, offering investors the opportunity to trade.
Investors interested in participating in the IPO must purchase a minimum lot size of 2000 shares. The distribution of shares is structured to include various investor classes, such as institutional, retail, and non-institutional investors.
Beeline Capital Advisors is managing the issue, with Link Intime India appointed as the registrar for the IPO. The company's move to go public is seen as a step towards capitalizing on the growing renewable energy sector in India, where solar power is increasingly becoming a focus for sustainable development.
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