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Bright Solar IPO is a fixed price issue of ₹19.44 crores. The issue is entirely a fresh issue of 0.54 crore shares of ₹19.44 crore.
Bright Solar IPO bidding started from Jun 26, 2018 and ended on Jun 29, 2018. The allotment for Bright Solar IPO was finalized on Jul 4, 2018. The shares got listed on NSE SME on Jul 9, 2018.
Bright Solar IPO price is ₹36.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,08,000 (3000 shares). The minimum lot size investment for HNI is 2 lots (6,000 shares), amounting to ₹2,16,000.
Swastika Investmart Ltd. is the book running lead manager and Alankit Assignments Ltd. is the registrar of the issue. The market maker of the company is Beeline Broking Ltd..
Refer to Bright Solar IPO RHP for detailed Information.
| IPO Date | June 26, 2018 to June 29, 2018 |
| Listing Date | July 9, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹36 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 54,00,000 shares (aggregating up to ₹19.44 Cr) |
| Reserved for Market Maker | 2,70,000 shares Beeline Broking Ltd. (aggregating up to ₹0.9720 Cr) |
| Net Offered to Public | 51,30,000 shares (aggregating up to ₹18.47 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 2,04,00,000 shares |
Bright Solar IPO offers total 54,00,000 shares. Out of which 25,65,000 (47.50%) allocated to NII, 25,65,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,70,000 (5.00%) |
| NII (HNI) Shares Offered | 25,65,000 (47.50%) |
| Retail Shares Offered | 25,65,000 (47.50%) |
| Total Shares Offered | 54,00,000 (100.00%) |
Bright Solar IPO opens on June 26, 2018, and closes on June 29, 2018.
| IPO Open Date | Tue, Jun 26, 2018 |
| IPO Close Date | Fri, Jun 29, 2018 |
| Tentative Allotment | Wed, Jul 4, 2018 |
| Initiation of Refunds | Fri, Jul 6, 2018 |
| Credit of Shares to Demat | Fri, Jul 6, 2018 |
| Tentative Listing Date | Mon, Jul 9, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jun 29, 2018 |
Investors can bid for a minimum of 3,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,08,000 |
| Retail (Max) | 1 | 3,000 | ₹1,08,000 |
| HNI (Min) | 2 | 6,000 | ₹2,16,000 |
Incorporated in 2010, Gujarat based Bright Solar Limited is a company engaged in assembling of DC/AC Solar Pumps and Solar Pump Systems under the registered brand name of "PUMPMAN", "BRIGHT SOLAR", and "BRIGHT SOLAR WATER PUMP". The company is also engaged in EPC contracts of Solar Photovoltaic Water pumps which include supplying, installing and commissioning of the pump system along with comprehensive maintenance contract for a specific period of 1-5 years. In solar pump system, it has a wide range of products of DC Solar Pump, Solar Pump Inverter, and AC Solar Pump.
In the year 2017-18, the company started providing consultancy services for acquiring projects and tender bidding after identifying the competent client on the tender to tender basis. In addition, we have also been added water supply, sewerage, and infra project in its service portfolio. We have also been awarded water supply and sewerage projects. Bright Solar is in the process of acquiring a land admeasuring area of 18209 Square meters at Kheda, Gujarat and on which the company is planning to set up a manufacturing unit for Solar PV modules/panels. The Company has already executed an agreement to sell for the acquisition of land. It is also planning to set up a water treatment plant assembling unit at Patna (Bihar).
To sum up, Bright Solar is into assembling of DC/AC Solar Pumps and Solar Pump Systems, EPC contracts of Solar Photovoltaic Water pumps, consulting of Projects and tenders, Water supply and Sewerages Infra Project. The company is planning to commence Solar Module manufacturing and water treatment plant assembling unit.
The company has 18 permanent employees on its payroll.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 3,309.49 | 2,212.31 | 3,892.34 | 818.82 | 1,978.49 | |
| Total Revenue | 1,812.99 | 1,547.06 | 4,784.25 | 2,846.13 | 2,239.93 | |
| Profit After Tax | 171.11 | 70.53 | 196.87 | 54.29 | 38.02 | |
The objects of the Issue are:
1. Acquisition of Land, its Registration, Stamping, and other charges
2. Working Capital,
3. General Corporate Purpose,
4. Issue Expenses.
[Dilip Davda] <p><strong>Inconsistency in its performance for last few years and superb earnings for first 10 months of FY18 raises concern. Though pricing looks reasonable, concern over sustainability of such earnings going forward raises doubt. Hence risk savvy investors may consider investment on their own risk. (Other).</strong></p> Read detail review...
| Listing Date | July 9, 2018 |
| BSE Script Code | |
| NSE Symbol | BRIGHT |
| ISIN | INE684Z01010 |
| Final Issue Price | ₹36 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹36.00 |
| Open | ₹37.75 |
| Low | ₹37.75 |
| High | ₹37.75 |
| Last Trade | ₹37.25 |
Bright Solar Ltd.
C-1103, Titanium Square,
Thaltej Circle, S G Highway,
Thaltej,
Ahmedabad, Gujarat, 380059
Phone: +91 - 79 - 4892 6868
Email: compliance@brightsolar.co.in
Website: http://www.brightsolar.in/
Alankit Assignments Ltd.
Phone: (011) 4254 1234
Email: ipo@alankit.com
Website: http://ipo.alankit.com/
Bright Solar IPO is a SME IPO of 54,00,000 equity shares of the face value of ₹10 aggregating up to ₹19.44 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000.
The IPO opens on June 26, 2018, and closes on June 29, 2018.
Alankit Assignments Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Bright Solar IPO using UPI as a payment gateway. Zerodha customers can apply in Bright Solar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bright Solar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bright Solar IPO opens on June 26, 2018 and closes on June 29, 2018.
Bright Solar IPO lot size is 3000, and the minimum amount required for application is ₹1,08,000.
You can apply in Bright Solar IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Bright Solar IPO will be done on Wednesday, July 4, 2018, and the allotted shares will be credited to your demat account by Friday, July 6, 2018. Check the Bright Solar IPO allotment status.
The Bright Solar IPO listing date is on Monday, July 9, 2018.
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