Australian Premium Solar shares created a splash on the stock market on Thursday when they were listed on NSE SME for ₹140 a share, which is 159.2% more than the issue price of ₹54. Following the listing, Australian Premium Solar shares continued to surge, hitting the 5% upper circuit and locking at ₹147. There was a 100% premium on the Australian Premium Solar IPO gray market ahead of today’s share listing.
Strong investor demand was evident in the IPO, which was subscribed 464.19 times in total. 535.77 subscribers in the public issue retail category, 107.02 subscribers in the Qualified Institutional Buyers (QIB) category, and 772.87 times subscribers in the Non-Institutional Investors (NII) category subscribed.
The company raised ₹28.08 crore through the SME IPO, which started for public subscription on January 11 and ended on January 15. The Australian Premium Solar (India) IPO was totally a new offering of 52 lakh shares. The IPO price range was set at ₹51-₹54 per share. The Australian Premium Solar IPO allotment was finalized on Tuesday, January 16, and the IPO listing date was set for January 18.
The Australian Premium Solar (India) IPO’s book-running lead manager is Beeline Capital Advisors Pvt Ltd, and its registrar is Link Intime India Private Ltd. In addition to manufacturing monocrystalline and polycrystalline solar modules, Australian Premium Solar (India) Ltd offers engineering, procurement, and construction (EPC) services for use in commercial, industrial, and residential settings. The business intends to use the proceeds from the new issue to pay for general corporate purposes, working capital needs, and capital expenditures.
