01 Aug '23 - 03 Aug '23
₹141,600 / 1 Lots (1200 Shares)
₹115 - ₹118
₹141,600 / 1 Lots (1200 Shares)
Investor category and sub categoryQualified Institutions Buyers | Non-Institutional Buyers | Retail Investors |
Oriana Power Ltd IPO Dates
Important dates with respect to IPO allotment and listing
Aug 1, 2023
Aug 3, 2023
Basis of Allotment
Aug 8, 2023
Initiation of Refunds
Aug 9, 2023
Credit of Shares to Demat
Aug 10, 2023
Cut off time for UPI Mandate confirmation
Aug 3, 2023
Aug 11, 2023
Oriana Power IPO Subscription Details
Day 1Aug 1, 2023
Oriana Power IPO Subscription Live Status
|Investor Category||Subscription (Times)|
|Qualified Institutions Buyers||0.21|
About Oriana Power Ltd
Oriana Power specialises in providing solar energy solutions to industrial and commercial clients. They install on-site solar equipment such as rooftop and ground-mounted systems, as well as off-site solar farms. Their business operations are primarily divided into two segments - Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO).
Under the CAPEX model, the client invests in the capital expenditure and Oriana does engineering, procurement, construction, and operation on behalf of the client. Under the RESCO model, operated through its 18 subsidiaries, the investment, commissioning and maintenance are done by Oriana Power. The company then sells power to the end consumer through a Power Purchase agreement generally agreed for 25 years. This gives them annuity income once the initial investment is recovered. So far, the capacity built via CAPEX model is nearly thrice that of the RESCO model.
The global solar energy market was valued at $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, showing a CAGR of 20.5% from 2019 to 2026. In India, the total generation of electricity grew by 7.96% and 8.87% in 2021-22 and 2022-23 respectively.
Oriana Power Ltd IPO Details
Oriana Power IPO is a 100% fresh issue IPO comprising 5,055,600 shares. It is a book-building issue with a price range of ₹115 to ₹118 per share. Retail investors can bid for the Oriana Power IPO that will open on August 1st, 2023. The IPO will list on the NSE SME exchange on August 11th, 2023.
Oriana Power Ltd IPO Objectives
The objectives of Oriana Power Ltd IPO are listed below:
- Working capital requirement i.e. salaries, rent, utilities, and inventory.
- Investment in subsidiary companies.
- Capital expenditure i.e. investments in technology, equipment and infrastructure to support the growth and expansion of the business.
The following are some of the major players in this market, in India and abroad:
- Tata Power Solar Systems Ltd
- Abengoa SE, Acciona S.A.
- Canadian Solar Inc.
- Esolar Inc.
- United Renewable Energy Co. Ltd.
- Sunpower Corporation
- Kaneka Corporation
- Wuxi Suntech Power Co. Ltd.
- Brightcource Energy Inc.
Highlights of Oriana Power Ltd
- The company generated net positive cash flow of ₹3.12 lakhs in 2022-23, unlike a net negative cash flow of ₹1.76 and ₹42.95 lakhs in 2021-22 and 2020-21 respectively.
- While operating and financing activities have given consistent positive cash flows in the last 3 years, investing activities have caused consistent cash outflows in the same period.
- The company has given corporate guarantees of ₹7,437 lakhs with respect to the loan taken by its subsidiaries and associate companies.
- They have never made any dividend payments in the past.
Oriana Power Ltd Company Financials
|Particulars||Period Ending on 31st Mar’23||Year ending on 31st Mar’22||Year ending on 31st Mar’21|
|Profit for the period||1,268.52||695.53||282.38|
|Return on Capital Employed||0.46||0.49||0.51|
Know before investing
The government of India currently provides a lot of support to renewable energy projects.
They have a large range of subsidiary companies and products that serve different types of clients as well as operate in different regions of India, as well as abroad e.g. in Africa.
In the last 3 years, the company has massively improved its revenue, profitability as well as current ratio.
Several of their key raw materials and components are sourced from a limited group of global, third-party suppliers, which creates supplier concentration risks.
Their top 10 customers take up a sizeable part of their revenue, which creates the risk of demand concentration. In 2021-22, 42.64% of the revenue came from a single client.
The get their business usually via a bidding process. This creates a degree of uncertainty in revenue obtained per period.
Login to Angel One App / Website & click on IPO
Select desired IPO & tap on "Apply"
Enter UPI ID, set quantity/price & submit
Accept mandate on the UPI app to complete the process
Login to Angel One App / Website
Choose IPO section on Home Page
Click IPO Orders
Chose the IPO application you want to view the status for
Oriana Power Ltd IPO FAQs
The Oriana Power Ltd IPO contains 100% fresh IPO worth almost ₹59.66 crores. The issue comprises 5,055,600 shares and is priced at ₹115 to ₹118 per share. The listing will happen on August 11th, 2023.
The Basis of Allotment will happen on August 8th, 2023.
The IPO subscription window will open on August 1st, 2023.
Retail investors can apply for a minimum of one lot, which consists of 1200 shares.
Oriana Power Ltd IPO will list on the NSE exchange on August 11th, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is August 11th, for Oriana Power Ltd.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.