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Australian Premium Solar IPO
Australian Premium Solar (India) Limited
₹1,02,000 /2000 sharesMinimum investment
IPO details
Minimum investment
₹1,02,000
Price range
₹51 - ₹54
Lot size
2,000
Issue size
28.08 Cr
Face value
10
IPO document
Subscription rate
Data will be available soon
Schedule
11 Jan 2024
IPO open date
15 Jan 2024
IPO close date
16 Jan 2024
Allotment date
16 Jan 2024
Funds unblock or debit
18 Jan 2024
Tentative listing date
About
Founded in
2013
MD/CEO
Mr. Nikunj Chimanlal Patel
Parent organisation
Australian Premium Solar (India) Limited
Australian Premium Solar Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
Australian Premium Solar functions in the under-tapped renewable energy sector that has been a prominent theme in recent years.
The company’s 25375 sq mt factory is fully operational with production capacity of 200 MW per annum.
Australian Premium Solar provides a diverse range of products and services, including the manufacturing of Monocrystalline and Polycrystalline Solar Panels and comprehensive EPC services. The company caters to a wide audience including households, businesses and agriculture.
The company has shown profitability with a PAT of Rs. 3.33 crores (as of 31 March 2023).
Australian Premium Solar is strategically expanding its EPC services, particularly in rooftop solar and solar pump verticals.
The company adopts product-wise, client-wise, location-wise and geography-wise approach for selling and marketing its products.
Australian Premium Solar (India) Limited and its promoters are involved in a few legal proceedings and claims. Adverse outcomes in these cases could lead to liabilities, penalties, and a negative impact on the company's reputation and financial status.
A significant portion of the company's sales relies on a few key customers. Losing any major customer could adversely affect revenues and profitability. In the financial year ending March 31, 2023, the top ten customers contributed 44.65% of total sales, indicating high dependence on a limited client base.
The company's operations and revenue are heavily concentrated in the state of Gujarat. Any negative economic or policy changes in this region could severely impact the company's financial health and operations.
The company's EPC services for residential rooftops and agricultural solar pumps rely on state and central government subsidies. Reduction or discontinuation of these subsidies could lead to higher project costs for consumers and a consequent reduction in potential customers.
The company has previously faced compliance issues with the Companies Act, 2013, and other regulations. Non-compliance and incorrect statutory filings could lead to penalties and impact the company's operations and financial position.
The company relies entirely on third-party transportation for the delivery of raw materials and products. The absence of formal contracts with these providers poses a risk to the company's business operations and financial health.
The company has availed unsecured loans amounting to Rs. 0.38 crores and those are repayable on demand. This could impact cash flows and financial conditions if lenders suddenly recall these loans.
The company's reliance on credit facilities from banks, subject to restrictive covenants, could affect its operational flexibility. Delays in obtaining necessary permissions could impact the company's financial and operational plans.
Australian Premium Solar requires numerous approvals, licenses, and permits for its operations. Failure to obtain, renew, or comply with these requirements could delay operations and adversely affect the business.
Application details
For Australian Premium Solar IPO, eligible investors can apply as Regular.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Regular | ₹51 - ₹54 | ₹2 - ₹5 Lakhs | 2000 |
| High Networth Individual | ₹51 - ₹54 | ₹2 - ₹5 Lakhs | 2000 |