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Oriana Power sets a price band of Rs 115 to Rs 118 for its IPO

The IPO compromises of 50.55 lakh share, to open on August 1

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Stanley Lifestyles files for IPO
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26 July 2023 5:48 PM IST

Hyderabad: Noida-based solar energy solution provider Oriana Power Limited announced the opening of its public issue for subscription on August 1 and will close on August 3.The anchor investor portion will be open for subscription on July 31. The company also announced the price band of Rs.115 to Rs. 118 per equity share. The initial public offering (IPO) of Oriana Power, will comprise 50.55 lakh equity shares (F.V. Rs. 10 each) through the book-building route and will be listed on NSE Emerge.

Of the total issue size of 50.55 lakh shares, the company has allocated 24.00 lakh shares for qualified institutional buyers (including Rs. 14.40 lakh for Anchor Investors), and 7.20 lakh shares for non-institutional investors. For retail investors, the company has set aside 16.80 lakh shares for allocation. Corporate Capital Ventures Private Ltd is the Lead Manager for the issue, while Skyline Financial Service Private Ltd. is the Registrar to the issue.

As per the Red Herring Prospectus (RHP), the company will deploy the IPO proceeds towards meeting its working capital requirements (Rs. 23 crore), investment in subsidiary companies (Rs. 20 crore), capital expenditure for expansion purposes (Rs. 2 crore) and general corporate purposes.

Oriana Power specialises in providing solar energy solutions to industrial and commercial customers. They offer low carbon energy solutions by installing on-site solar projects such as rooftop and ground-mounted systems, as well as off-site solar farms i.e. Open access. Their business operations are primarily divided into two segments: Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO).

The company recently closed its pre-IPO round, with several reputed investors, including Chennai-based Anil Kumar Goel, JSW Energy’s Prashant Jain, Meru’s founder Neeraj Gupta, Jaipur-based Manoj Agarwal and MSMEx’s Amit Kumar, participating in the offering.


IPO Stock Business Solar Energy 
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