Bookbuilding IPO | ₹357 Cr | Listed at BSE, NSE | Mon, Sep 13, 2010 - Wed, Sep 15, 2010
Indosolar IPO is a book build issue of ₹357.00 crores. The issue is entirely a fresh issue of 12.31 crore shares of ₹357.00 crore.
Indosolar IPO bidding started from Sep 13, 2010 and ended on Sep 15, 2010. The shares got listed on BSE, NSE on Sep 29, 2010.
Indosolar IPO price band is set at ₹29 per share. The lot size for an application is 200. The minimum amount of investment required by an retail is ₹6,400 (200 shares) (based on upper price). The lot size investment for sNII is 35 lots (7,000 shares), amounting to ₹2,03,000, and for bNII, it is 173 lots (34,600 shares), amounting to ₹10,03,400.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Indosolar IPO RHP for detailed Information.
IPO Open
Mon, Sep 13, 2010
IPO Close
Wed, Sep 15, 2010
Issue Price
₹29 per share
Market Cap (Pre-IPO)
₹971.92 Cr
| IPO Date | 13 to 15 Sep, 2010 |
| Listed on | Wed, Sep 29, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹29 to ₹32 |
| Issue Price | ₹29 per share |
| Lot Size | 200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 12,31,03,448 shares (agg. up to ₹357 Cr) |
| Fresh Issue | 12,31,03,448 shares (agg. up to ₹357 Cr) |
| Share Holding Pre Issue | 21,20,40,579 shares |
| Share Holding Post Issue | 33,51,44,027 shares |
| BSE Script Code / NSE Symbol | 533257 / INDOSOLAR |
| ISIN | INE866K01015 |
Indosolar IPO comprises a total issue size of 12,31,03,448 shares. Out of which, 6,15,51,724 (50.00%) are allocated to QIB, 1,84,65,517 (15.00%) allocated to NII 4,30,86,207 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 6,15,51,724 | 50.00% | NA |
| NII (HNI) Shares Offered | 1,84,65,517 | 15.00% | NA |
| Retail Shares Offered | 4,30,86,207 | 35.00% | 2,15,431 |
| Total Shares Offered | 12,31,03,448 | 100.00% |
Investors can bid for a minimum of 200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 200 | ₹5,800 |
| Retail (Max) | 34 | 6,800 | ₹1,97,200 |
| S-HNI (Min) | 35 | 7,000 | ₹2,03,000 |
| S-HNI (Max) | 172 | 34,400 | ₹9,97,600 |
| B-HNI (Min) | 173 | 34,600 | ₹10,03,400 |
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.
| 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 | To finance the expansion of the annual manufacturing capacity for SPV cells by adding a third line of 100 MW, (“Line 3”); and | 337.43 |
| 2 | General corporate purposes | 15.52 |
| KPI | |
|---|---|
| RoNW | -46.06% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 97.63% | 61.77% |
| Market Cap | ₹971.92 Cr. |
The Indosolar IPO is subscribed 1.55 times on September 15, 2010 5:00:00 PM (Day 3). The public issue subscribed 1.81 times in the retail category, 1.44 times in the QIB category, and 1.3 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.44 | 6,15,51,724 | |
| NII | 1.3 | 1,84,65,517 | |
| Retail | 1.81 | 4,30,86,207 | |
| Total | 1.55 | 12,31,03,448 |
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.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Manager (including Underwriting commission) | 12.50 |
| 2 | Advertising and marketing expenses | 6.28 |
| 3 | Fees payable to the Registrar | 0.22 |
| 4 | Fees payable to the Bankers to the Issue | |
| 5 | Brokerage and selling commission (including fee payable to SCSB) | 0.63 |
| 6 | IPO Grading expense | 0.18 |
| 7 | Others (legal fees, listing fees, printing and stationery expenses etc.) | 3.85 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹29.00 | ₹29.00 |
| Open | ₹29.75 | ₹29.50 |
| Low | ₹22.80 | ₹22.60 |
| High | ₹29.90 | ₹29.50 |
| Last Trade | ₹23.70 | ₹23.70 |
Lead Manager Reports
Indosolar IPO is a main-board IPO of 12,31,03,448 equity shares of the face value of ₹10 aggregating up to ₹357 Crores. The issue is priced at ₹29 per share. The minimum order quantity is 200.
The IPO opens on Mon, Sep 13, 2010, and closes on Wed, Sep 15, 2010.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Indosolar IPO using UPI as a payment gateway. Zerodha customers can apply in Indosolar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Indosolar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Indosolar IPO opens on Mon, Sep 13, 2010 and closes on Wed, Sep 15, 2010.
Indosolar IPO lot size is 200, and the minimum amount required for application is ₹5,800.
You can apply in Indosolar 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 Indosolar IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Indosolar IPO allotment status.
The Indosolar IPO listing date is on Wed, Sep 29, 2010.
