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Indosolar IPO is a book built issue of Rs 357.00 crores.
Indosolar IPO bidding started from September 13, 2010 and ended on September 15, 2010. The shares got listed on BSE, NSE on September 29, 2010.
Indosolar IPO price band is set at ₹29 to ₹32 per share. The minimum lot size for an application is 200 Shares. The minimum amount of investment required by retail investors is ₹6,400.
Axis Capital Limited is the book running lead manager of the Indosolar IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Indosolar IPO RHP for detailed information.
| IPO Date | September 13, 2010 to September 15, 2010 |
| Listing Date | September 29, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹29 to ₹32 per share |
| Lot Size | 200 Shares |
| Total Issue Size | 123,103,448 shares (aggregating up to ₹357.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 212,040,579 |
| Share holding post issue | 335,144,027 |
Indosolar IPO offers 123,103,448 shares. 61,551,724 (50.00%) to QIB, 18,465,517 (15.00%) to NII, 43,086,207 (35.00%) to RII. 215,431 RIIs will receive minimum 200 shares and (sNII) and (bNII) will receive minimum 6,400 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 61,551,724 (50.00%) | NA |
| NII (HNI) Shares Offered | 18,465,517 (15.00%) | |
| Retail Shares Offered | 43,086,207 (35.00%) | 215,431 |
| Total Shares Offered | 123,103,448 (100%) |
Investors can bid for a minimum of 200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 200 | ₹6,400 |
| Retail (Max) | 31 | 6200 | ₹198,400 |
| Lot Size Calculator | |||
Promoters of the Company are:
1. Mr. Bhushan Kumar Gupta; and
2. Mr. Hulas Rahul Gupta
| Share Holding Pre Issue | 97.63% |
| Share Holding Post Issue | 61.77% |
Incorporated in 2005, Indosolar Limited is a leading Indian manufacturer for photovoltaic cells. Indosolar manufactures poly-crystalline solar photo-voltaic (SPV) cells from silicon wafers utilizing crystalline silicon SPV cell technology for converting sunlight directly into electricity through a process known as the photo-voltaic effect. Indosolar Ltd market and sell their products to primarily module manufacturers on a business-to-business platform, who in turn supply to the system integrators who install the systems for grid and off-grid (roof top) applications for use in the domestic market as well as markets in Europe, Spain, Japan, Asia, Canada and USA.
Company's manufacturing facility for SPV cells in Greater Noida currently comprises of one SPV cell manufacturing line having an annual capacity of 80 MW which commenced commercial production in July, 2009. Another SPV cell manufacturing line having an annual manufacturing capacity of 80 MW is expected to be commissioned and will commence commercial production in March 2010, resulting in aggregate annual capacity of 160 MW as part of their expansion plan. Company intends to increase their annual production capacity to approximately 260 MW by April 2011, with the commercial production through the proposed Line 3, which we intend to finance out of the Net Proceeds. The Line 3 is expected to be completed in February 2011 and is expected to commence commercial production in April 2011.
| KPI | Values |
|---|---|
| RoNW | -46.06% |
The object of the issue are:
1. to finance the expansion of their annual manufacturing capacity for SPV cells by adding a third line of 100 MW, ("Line 3"); and
2. for general corporate purposes.
The Indosolar IPO is subscribed 1.55 times on September 15, 2010 5:00:00 PM. The public issue subscribed 1.81 times in the retail category, 1.44 times in the QIB category, and 1.30 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.44 |
| NII | 1.30 |
| Retail | 1.81 |
| Total | 1.55 |
CRISIL has assigned an IPO Grade 3 to Indosolar Ltd IPO. This means as per CRISIL company has 'Average Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CRISIL IPO Grading Document for Indosolar Ltd.
Indosolar Ltd IPO, Indosolar IPO, Indosolar IPO Bidding, Indosolar IPO Allotment Status, Indosolar drhp and Indosolar Ltd IPO listing.
| Listing Date | September 29, 2010 |
| BSE Script Code | 533257 |
| NSE Symbol | INDOSOLAR |
| ISIN | INE866K01015 |
| Final Issue Price | ₹29 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹29.00 |
| ₹29.75 |
| ₹22.80 |
| ₹29.90 |
| ₹23.70 |
| NSE |
|---|
| ₹29.00 |
| ₹29.50 |
| ₹22.60 |
| ₹29.50 |
| ₹23.70 |
Indosolar Ltd
Indosolar Limited,
C-12, Friends Colony (East),
New Delhi 110065, India.
Phone: +91 11 26841375
Email: atul.mittal@indosolar.co.in
Website: http://www.indosolar.co.in
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: indosolar.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Indosolar IPO is a main-board IPO of 123,103,448 equity shares of the face value of ₹10 aggregating up to ₹357.00 Crores. The issue is priced at ₹29 to ₹32 per share. The minimum order quantity is 200 Shares.
The IPO opens on September 13, 2010, and closes on September 15, 2010.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Indosolar IPO opens on September 13, 2010 and closes on September 15, 2010.
Indosolar IPO lot size is 200 Shares, and the minimum amount required is ₹6,400.
You can apply in Indosolar IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Indosolar IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Indosolar IPO allotment status.
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