Fixed Price IPO | ₹19 Cr | Listed at NSE SME | Tue, Jun 26, 2018 - Fri, Jun 29, 2018
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Jun 26, 2018
IPO Close
Fri, Jun 29, 2018
Issue Price
₹36 per share
Market Cap (Pre-IPO)
₹73.44 Cr
| IPO Date | 26 to 29 Jun, 2018 |
| Listed on | Mon, Jul 9, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹36 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 54,00,000 shares (agg. up to ₹19 Cr) |
| Reserved for Market Maker | 2,70,000 shares Beeline Broking Ltd. (agg. up to ₹0.9720 Cr) |
| Fresh Issue (Ex Market Maker) | 51,30,000 shares (agg. up to ₹18 Cr) |
| Net Offered to Public | 51,30,000 shares (agg. up to ₹18 Cr) |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 2,04,00,000 shares |
| NSE Symbol | BRIGHT |
| ISIN | INE684Z01010 |
Bright Solar IPO comprises a total issue size of 54,00,000 shares. The net offer to the public is 51,30,000 shares, after excluding 2,70,000 shares allotted on a firm basis. Of the Net offer 25,65,000 (50.00%) allocated to NII 25,65,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 25,65,000 | 50.00% | 47.50% |
| Retail Shares Offered | 25,65,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,70,000 | 5.00% | |
| Total Shares Offered | 54,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Acquisition of Land, its Registration, Stamping and other chargesfor setting up Solar PV Modules/Panelsmanufacturing unit | 3.86 |
| 2 | Working Capital requirements | 11.68 |
| 3 | General Corporate Purpose | 3.48 |
The Bright Solar IPO is subscribed 1.85 times on June 29, 2018 5:00:00 PM (Day 4). The public issue subscribed 1.49 times in the retail category, [.] times in the QIB category, and 2.21 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.21 | 25,65,000 | 56,58,000 |
| Retail | 1.49 | 25,65,000 | 38,25,000 |
| Total | 1.85 | 51,30,000 | 94,83,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including fees and reimbursements of Market Making Fees, selling commissions, brokerages, payment to other intermediaries such as Legal Advisors, Registrars, Bankers etc and other out of pocket Expenses. | 0.45 |
| 2 | Printing & Stationery and Postage Expense | 0.05 |
| 3 | Marketing and Advertisement Expenses | 0.10 |
| 4 | Regulatory fees and other Expenses | 0.25 |
| 5 | Other Miscellaneous Expenses | 0.05 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹36.00 |
| Open | ₹37.75 |
| Low | ₹37.75 |
| High | ₹37.75 |
| Last Trade | ₹37.25 |
Lead Manager Reports
Bright Solar IPO is a SME IPO of 54,00,000 equity shares of the face value of ₹10 aggregating up to ₹19 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000.
The IPO opens on Tue, Jun 26, 2018, and closes on Fri, Jun 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 Tue, Jun 26, 2018 and closes on Fri, Jun 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 Fri, Jul 6, 2018. Check the Bright Solar IPO allotment status.
The Bright Solar IPO listing date is on Mon, Jul 9, 2018.
