Fixed Price IPO | ₹32 Cr | Listed at BSE SME | Thu, May 31, 2018 - Mon, Jun 4, 2018
Waa Solar IPO is a fixed price issue of ₹32.20 crores. The issue is a combination of fresh issue of 0.18 crore shares aggregating to ₹28.18 crores and offer for sale of 0.03 crore shares aggregating to ₹4.03 crores.
Waa Solar IPO bidding started from May 31, 2018 and ended on Jun 4, 2018. The shares got listed on BSE SME on Jun 12, 2018.
Waa Solar IPO price is ₹161 per share. The lot size for an application is 800. The minimum amount of investment required by an individual investor (retail) is ₹1,28,800 (800 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,600 shares), amounting to ₹2,57,600.
Oneview Corporate Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Guiness Securities Ltd..
Refer to Waa Solar IPO RHP for detailed Information.
IPO Open
Thu, May 31, 2018
IPO Close
Mon, Jun 4, 2018
Issue Price
₹161 per share
Market Cap (Pre-IPO)
₹106.80 Cr
| IPO Date | 31 May to 4 Jun, 2018 |
| Listed on | Tue, Jun 12, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹161 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 20,00,000 shares (agg. up to ₹32 Cr) |
| Reserved for Market Maker | 1,04,000 shares Guiness Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 16,46,000 shares (agg. up to ₹27 Cr) |
| Offer for Sale | 2,50,000 shares of ₹10 (agg. up to ₹4 Cr) |
| Net Offered to Public | 18,96,000 shares (agg. up to ₹31 Cr) |
| Share Holding Pre Issue | 48,83,382 shares |
| Share Holding Post Issue | 66,33,382 shares |
| BSE Script Code | 541445 |
| ISIN | INE799N01012 |
Waa Solar IPO comprises a total issue size of 20,00,000 shares. The net offer to the public is 18,96,000 shares, after excluding 1,04,000 shares allotted on a firm basis. Of the Net offer 9,48,000 (50.00%) allocated to NII 9,48,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 9,48,000 | 50.00% | 47.40% |
| Retail Shares Offered | 9,48,000 | 50.00% | 47.40% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,04,000 | 5.20% | |
| Total Shares Offered | 20,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,28,800 |
| Retail (Max) | 1 | 800 | ₹1,28,800 |
| HNI (Min) | 2 | 1,600 | ₹2,57,600 |
Incorporated in 2009, Gujarat based Waa Solar Limited is a company engaged in solar power generation by setting up Solar Power Project and by investing in Special Purpose Vehicle ("SPV") associate and subsidiaries companies which are engaged in solar power generation activities.
In 2010, Gujarat Urja Vikas Nigam Limited ("GUVNL") has awarded the company the work of setting up of Solar Photovoltaic Grid Interactive Power Plant of 10MW capacity at village Nayka, Taluka-Sami, District Patan, to produce the Electric Energy and for sale of entire electrical energy, so produced, for commercial purpose from such project to GUVNL for a tenure of 25 years. GUVNL has entered into Power Purchase Agreement ("PPA") and agreed to purchase such power through distribution companies ("Discom").
In 2013, Airport Authority of India, has entered into PPA with the company for setting up a solar power plant of 100 KWP at Raja Bhoj Airport, Bhopal on Built, Own and Operate ("BOO") basis for a tenure of 25 years.
| 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 | Investment in Subsidiary Companies | 21.00 |
| 2 | General Corporate Purpose | 6.70 |
The Waa Solar IPO is subscribed 1.85 times on June 4, 2018 5:00:00 PM (Day 3). The public issue subscribed 2.84 times in the retail category, [.] times in the QIB category, and 0.85 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 0.85 | 8,23,000 | 7,03,200 |
| Retail | 2.84 | 8,23,000 | 23,36,800 |
| Total | 1.85 | 16,46,000 | 30,40,000 |
| # | 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. | 0.30 |
| 2 | Printing & Stationery and Postage Expenses | 0.02 |
| 3 | Marketing and Advertisement Expenses | 0.04 |
| 4 | Regulatory fees and other Expenses | 0.05 |
| 5 | Other Miscellaneous Expenses | 0.07 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹161.00 |
| Open | ₹158.00 |
| Low | ₹152.10 |
| High | ₹158.00 |
| Last Trade | ₹153.15 |
Lead Manager Reports
Waa Solar IPO is a SME IPO of 20,00,000 equity shares of the face value of ₹10 aggregating up to ₹32 Crores. The issue is priced at ₹161 per share. The minimum order quantity is 800.
The IPO opens on Thu, May 31, 2018, and closes on Mon, Jun 4, 2018.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Waa Solar IPO using UPI as a payment gateway. Zerodha customers can apply in Waa Solar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Waa Solar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Waa Solar IPO opens on Thu, May 31, 2018 and closes on Mon, Jun 4, 2018.
Waa Solar IPO lot size is 800, and the minimum amount required for application is ₹1,28,800.
You can apply in Waa 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 Waa Solar IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Waa Solar IPO allotment status.
The Waa Solar IPO listing date is on Tue, Jun 12, 2018.
