Bright Solar Ltd IPO

IPO Synopsis

Public issue of 54,00,000 equity shares of face value of Rs. 10 each of Bright Solar Limited (bright or the company or the issuer) for cash at a price of Rs. 36 per equity share including a share premium of Rs. 26 per equity share (the issue price) aggregating to Rs. 19.44 Crores (the issue), of which 2,70,000 equity shares of face value of Rs. 10 each for cash at a price of Rs. 36 per equity share including a share premium of Rs. 26 per equity share aggregating to Rs. 0.97 Crores will be reserved for Subscription by market maker to the issue (the market Maker reservation portion). The issue less the market maker reservation portion i.e. net Issue of 51,30,000 equity shares of face value of Rs. 10 each at a price of Rs. 36 per equity share including a share premium of Rs. 26 per equity share aggregating to Rs. 18.47 Crores is hereinafter referred to as the net issue. The issue and the net issue will constitute 26.47% and 25.15% respectively of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10 each and the issue price is Rs. 36. The issue price is 3.6 times of the face value.