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Oriana Power IPO

  • Status: Closed
  • ₹ 138,000 / 1200 shares

    Minimum Investment

IPO Details

  • Open Date

    01 Aug 2023

  • Close Date

    03 Aug 2023

  • IPO Price Range

    ₹ 115 to ₹ 118

  • IPO Size

    ₹ 59.66 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    11 Aug 2023

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IPO Timeline

Oriana Power IPO Subscription Status

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Oriana Power Ltd IPO is all set to open from 1st August to 3rd August 2023. Oriana Power Limited specializes in delivering cutting-edge solar energy solutions to both industrial and commercial clients. The company is launching a fresh issue of 50,55,600 equity shares (worth ₹59.66 Cr). The share allotment date is 8th August, and the IPO will be listed on 11th August on NSE SME. The price band of this SME IPO is ₹115 to ₹118 with a lot size of 1200 shares.

Corporate Capital Ventures Private Limited is the book-running lead manager for this IPO, while Skyline Financial Services Private Limited is the registrar. 

Objectives of Oriana Power IPO:

Oriana Power Ltd plans to utilize the raised capital from IPO to:
●    Funding working capital needs
●    Investing in subsidiaries 
●    Meet capital expenditure for tech, infra and equipment for business expansion 
 

Established in 2013, Oriana Power Ltd is a specialized company dedicated to providing solar energy solutions to industrial and commercial clients. Their focus lies in delivering low-carbon energy options through the installation of solar projects on-site, such as rooftop and ground-mounted systems, as well as off-site solar farms with open access. 

The company operates primarily through two segments: Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). In the CAPEX model, Oriana Power offers services including Engineering, Procurement, Construction, and Operation of solar projects. The RESCO model operates by offering solar energy solutions based on the BOOT (Build, own, operate, transfer).

Since commencing their business in this field in June 2017, Oriana Power has successfully delivered projects exceeding 100 MWp capacity across multiple locations in India and Kenya (Africa). The company's commitment to growth and progress is evidenced by its impressive portfolio of ongoing and forthcoming projects, as well as its relations with esteemed organizations, such as Coal India Limited, Solar Energy Corporation of India Limited, Braithwaite & Co. Limited (Ministry of Railways), NnB Paper Products Private Limited, Welspun India, and many more.

Peer Comparison
●    KPI Green Energy Limited
●    Gensol Engineering Limited

 

For More Information:
Webstory on Oriana Power IPO
Oriana Power IPO GMP

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 132.94 100.77 33.74
EBITDA 116.32 92.14 29.96
PAT 12.69 6.96 2.82
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 78.00 55.73 29.65
Share Capital - - -
Total Borrowings 41.78 37.97 21.94
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 13.20 0.82 1.96
Net cash from / (used in) investing activities -20.24 -5.64 -5.00
Net cash flow from / (used in) financing activities 7.07 4.80 2.62
Net increase (decrease) in cash and cash equivalents 0.03 0.0014 0.019


Strengths

1.    Oriana Power delivers cutting-edge solar energy solutions tailored to meet the unique needs of industrial and commercial clients with a focus on providing low-carbon energy alternatives.
2.    It has a strong clientele, including big names such as Coal India Limited, Solar Energy Corporation of India Limited, Hindustan Copper Limited, and more.
3.    The company’s financial performance is on an upward trajectory. 
4.    The company’s payment terms are a fixed annual fee or a percentage based on the plant's capacity or energy generation. This ensures a stable and dependable income stream.
5.    It focuses on protecting the environment and reducing carbon footprints.
6.    The company has 18 subsidiary companies, which have successfully deployed multiple MW capacities in various regions like Delhi, Rajasthan, Madhya Pradesh, Haryana, Gujarat, Maharashtra, and others. 
7.    It is dedicated to utilizing 100% renewable energy and helping pave the way toward a greener and more sustainable future.
 

Risks

1.    The company has a significant amount of outstanding unsecured loans, repayable on demand and has also given Corporate Guarantees for debt taken by its subsidiaries and associate companies.
2.    The competition is quite high. 
3.    Any failure to successfully bid for solar power projects can hamper the company’s expansion plan. 
4.    Any restrictions or lockdowns can impact the growth and cash flow of the company. 
5.    Unfavorable solar weather conditions can impact the company’s business. 
 

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FAQs

Oriana Power IPO lot size is 1200 equity shares, and the minimum investment required is ₹1,38,000. 
 

The price band of Oriana Power IPO is ₹115 to ₹118. 

Oriana Power IPO opens on 1st August and closes on 3rd August 2023.
 

Oriana Power IPO plans to issue a fresh issue of 50,55,600 equity shares (worth ₹59.66 Cr). 
 

The allotment date of the Oriana Power IPO is 8th August 2023. 

The listing date of Oriana Power IPO is 11th August 2023.

Corporate Capital Ventures Private Limited is the book-running lead manager for Oriana Power IPO.

Oriana Power plans to utilize the raised capital from IPO to:

●    Funding working capital needs
●    Investing in subsidiaries 
●    Meet capital expenditure for tech, infra and equipment for business expansion
 

To apply for Oriana Power IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Oriana Power Ltd IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.