Indosolar Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 61,551,724 (50%) | — | ₹19,697 Cr |
| NII (HNI) | — | 18,465,517 (15%) | — | ₹5,909 Cr |
| Retail | — | 43,086,207 (35%) | — | ₹13,788 Cr |
| Σ Total | — | 123,103,448 (100%) | — | ₹393,931 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 200 | ₹6,400 |
| Retail (Max) | 13 | 2,600 | ₹83,200 |
| S-HNI (Min) | 14 | 2,800 | ₹89,600 |
| B-HNI (Min) | 67 | 13,400 | ₹428,800 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1. to finance the expansion of their annual manufacturing capacity for SPV cells by adding a third line of 100 MW, ("Line 3"); and –
- 2. for general corporate purposes. –
Company Overview
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.