Bright Solar Limited IPO

Add to Calendar 2018-06-26 12:00 AM 2018-06-29 12:00 AM Asia/Kolkata Bright Solar Limited IPO Bright Solar Limited India

Bright Solar Limited was established in Gujarat on 23rd of April 2010. It is having registered brand name under 'PUMPMAN', 'BRIGHT SOLAR', and 'BRIGHT SOLAR WATER PUMP' under which it provides assembling of DC/AC Solar Pumps and Solar Pump Systems. It is also involved in comprehensive maintenance contract for a specific period from 1-5 years for EPC contracts of Solar Photovoltaic Water pumps which include commissioning, supplying and installation of water pumps.

Date of Establishment: Bright Solar Limited was established as private limited company under the name of ‘Bright Solar Private Limited’ on 23rd of April 2010 under Companies Act 1956 by Assistant Registrar of Companies, Gujarat, Dadra and Nagar Havelli. It was incorporated as Public Limited Company on 29th January 2018 and the name was reformed to ‘Bright Solar Limited’ and fresh Certificate of Incorporation was issue to them by Assistant Registrar of Companies, Ahmedabad, Gujarat .

Promoters of Bright Solar Limited: Mr. Piyushkumar Thumar is he promoter of Bright Solar Limited.

Product and Services offering: Bright Solar Limited currently offers wide range of products specified under DC Solar Pumps, Solar Pump Inverters and AC Solar Pumps. It provides services consisting of consulting of Projects and tender bidding, water supply, sewerages, infra projects, assembling DC/AC solar Pumps and Solar Pump Systems and EPC contracts of Solar Photovoltaic Water pumps.

Customer Segments: Bright Solar Limited has wide diversified customers including government companies and private company project undertakings which is located across the states of Gujarat, Rajasthan, New Delhi, Chennai and Bihar among others

Objects of issue: The objective of Bright Solar Limited IPO is:
-      Acquisition of Land for setting up solar PV modules/panels manufacturing unit, its Registration, Stamping and   other
       charges which is located at Kheda district in Gujarat.- Working Capital requirements
-     General Corporate Purpose
-     Issue Expenses which consists of underwriting and management fees, selling commission, printing and   distribution
      expenses, legal fees, advertising expenses and listing fees.

Company Financials:

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Issue Detail

  • Issue Open: Jun 26, 2018
  • Issue Close: Jun 29, 2018
  • Issue Type: Fixed Price Issue IPO
  • Face Value: Rs 10 Per Equity Share
  • Price Band: Rs 36 Per Equity Share
  • Bid Lot:3000 Shares
  • Minimum Order Quantity:3000 Shares
  • Listing At: NSE SME
  • Issue Size: • Rs 19.44 Cr

Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & Time QIB NII RII Employee Others Total
Shares Offered / Reserved - 2,565,000 2,565,000 - - 5,130,000
Day 1 - Jun 26, 2018IST - - - - - -
Day 2 - Jun 27, 2018IST - 510000 918000 - - 1428000
Day 3 - Jun 28, 2018IST - 3615000 1503000 - - 5118000
Day 4 - Jul 29, 2018IST - 5658000 3825000 - - 9483000

Listing Day Trading Information

Issue Price - Rs 36.00
Open - Rs 37.75
Low - Rs 37.75
High - Rs 37.75
Last Trade - Rs 37.75
Volume - 6,000

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