Australian Premium Solar (India) Ltd Share Price – NSE

Capital Goods - Electrical Equipment, Small Cap

Australian Premium Solar (India) will hold a meeting of the Board of Directors of the Company on 27 May 2024

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Australian Premium Solar (India) will hold a meeting of the Board of Directors of the Company on 7 March 2024.

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The scrip was listed at Rs 140, a premium of 159.26% compared with the initial public offer (IPO) price. The stock was currently frozen in an upper limit of 5% over its listing price.

The counter hit a high of Rs 147 and a low of Rs 140. About 21.44 lakh shares of the company changed hands at the counter.

Australian Premium Solar (India)'s IPO was subscribed 308.91 times. The issue opened for bidding on 11 January 2024 and it closed on 15 January 2024. The price of the IPO was set at Rs 51 to Rs 54 per share.

The IPO comprised fresh issue of 52,00,000 shares and the promoter and promoter shareholding diluted to 73.64% from 99.98% pre-IPO.

The company intends to utilize the net proceeds for funding capital expenditure, to meet working capital requirements and general corporate purpose.

Ahead of the IPO, Australian Premium Solar (India) on Wednesday, 10 January 2024, raised Rs 7.99 crore from anchor investors. The board allotted 14,80,000 shares at Rs 54 per share to 3 anchor investors.

Australian Premium Solar (India) is primarily engaged in the manufacturing of solar panels and EPC services of solar systems. The company manufactures two types of solar panels, Monocrystalline Solar Panel and Polycrystalline Solar Panel. The company also provides installation services for solar panels and solar pumps. As on 31 July 2023, the company has a total of 169 employees.

The company recorded revenue from operations of Rs 50.17 crore and net profit of Rs 1.13 crore for the period as on 31 July 2023.

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