Bright Solar IPO is launching on 26th June 2018. The issue size of this IPO is Rs.1944 Lakh.

Let’s have a detailed review of Bright Solar Limited IPO and an in-depth analysis of the IPO release date, IPO offer price, Bright Solar IPO subscription, IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Bright Solar IPO Review & Ratings

Bright Solar IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking6.7/10
Company Background6.8/10
Company Reputation6.3/10
Competitive Edge 6.2/10
Financial Statements6.4/10
Popularity Index6.3/10
Promoters Reputation6.7/10
Retail Appetite6.2/10
Top Brokers Review6.3/10
Overall Ratings6.4/10
Star Ratings★★★☆☆

Summary of Bright Solar Limited IPO

Bright Solar IPOBright Solar Limited is a relatively newer company. Though the company was started in the year 2010, the growth has been on the steady increase. The company is aimed at creating environment friendly products.

The company has become one of the forerunners in Solar Energy. The company is planning to set up new manufacturing units and this is why the company is in need of funds.

Since the government too is planning to invest a lot in solar energy, your decision to buy the shares of this firm would never prove to be a wrong choice. Total 54,00,000 Equity Shares of Rs 10/- each at an Issue Price of Rs 36/- each aggregating to Rs 1944 Lakh. The minimum Market lot is 3000 equity shares.

The Promoter of this company is Mr. Piyushkumar Thumar.

The Lead Manager to this issue is Swastika Investmart Limited and the registrar to this issue is Alankit Assignments Limited.


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    Bright Solar Limited IPO date

    The opening and the closing date of the Bright Solar IPO from 26th June to 29th June 2018.

     Bright Solar IPO Subscription

    Subscription
    Day 1 (26th June)X
    Day 2 (27th June)1,428,000
    Day 3 (28th June)X
    Day 4 (29th June)X
    Day 5

     Bright Solar Limited IPO Allotment Status

    IPO Allotment & Listing dates:

    • Basis of Allotment05th July 2018
    • Refunds: 06th July 2018
    • Credit to demat accounts: 09th July 2018
    • Listing: 10th July 2018

     Bright Solar IPO Price Band

    The face value of each share is Rs 10 but the price band of the IPO is Rs 36 per share.

     Bright Solar Limited IPO Issue Size

    The Issue Size is Rs 1944 Lakh.

    Bright Solar Limited IPO Equity Share Offerings

    The company is going live with 54,00,000 Equity Shares of Rs.10 each at an Issue Price of Rs.36.


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    Asset ClassROI (Rs.)Profit (Rs.)Profit (%)
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    Bright Solar Limited-Company Overview

    Bright Solar is a solar products company based in Gujarat. The Bright Solar Limited is aimed at creating products that will be much use to the civilians and making sure that they are available at cheaper prices too. There are many business verticals to this organization, Water Supply, Sewage and Infrastructure Projects, Water Treatment, Plant Assembling, EPC Contracts of Solar PV and Water Pumps, Consulting of Projects and tender etc., the main product of the company, the solar energy pumps are approved by the Ministry of New and Renewable Energy.

    Bright Solar pumping system consists of solar pumping inverter, pump and PW array. Consider that storing water is
    more efficient than storing electricity; the system is designed to directly drive the pump without battery which can
    reduce the construction and operating cost and routine maintenance effectively.

    The PV array consists of multiple solar panels connected in series/parallel, which can supply the whole system as power source by convening the absorbed solar radiation energy to the electrical energy. Solar pumping inverter can implement the control of the whole system operation, which drives the pump by convening DC power produced by the PV array to AC power.

    This inverter can adjust the output frequency according to the solar irradiation intensity in real time to implement the MPPT (maximum power point tracking). The pump driven by a 3-phase AC motor draws water from deep-well or river. The pumped water is then fed into reservoir or water tank, or connected to the irrigation system or fountain system directly. All of centrifugal pump, axialflow pump, mixed-flow pump, and deep-well pump can be utilized.

    The key management personnel of the company is the MD of the organization who also plays the role of promoting the company.


    Bright Solar Limited-Financial Statements

    Have a look at the financial statements of the firm before you invest in the firm.

    Assets of the Company

    Asstes (in INR Lacs)
     Mar-17Mar-16Mar-15Mar-14Mar-13
    Non-current assets           125              88              14              26              15
    Current assets        3,169        2,104        3,852           754        1,950
    Total Assets        3,309        2,212        3,892           819        1,978

    Revenue & PAT of the Company

    Revenue & Profits (in INR & Lakh)
     Mar-17Mar-16Mar-15Mar-14Mar-13
    Revenue        1,813        1,547        4,784        2,846       2,240
    Profit After Tax            171              70            197              55            38

    Earnings per Equity Share

    Earning per Equity Share (in INR)
     Mar-17Mar-16Mar-15Mar-14Mar-13
    Basic 11.416.1241.827.7345.64*
    Diluted11.416.1241.827.7345.64

    * pre-bonus

    The figures reflect certain ups and downs but the company certainly has made a progress – the profit percentage in the first year versus the percentage in the latest available year shows a remarkable progress in the company’s business.


    Bright Solar Limited-Promoter

    The Promoter of this company is Mr. Piyushkumar Thumar. He is the Managing Director of this company. He is donning several roles in this organization. The company has reached several heights due to his sincere efforts. He has a wide knowledge in International Trade, Photovoltaic Technology, Solar Energy Systems etc., There are certain companies that fall under this group. The family members are closely related to the group who act as promoters.

    The interest of Promoters in the Promotion of the company

    Since the company is owned by the founder, he has shown much interest towards developing the company by promoting it. He is the one who generates the revenue and he has all the rights to enjoy the dividends and promote the company.

    The interest of Promoter in the Property of the company

    The promoter is not interested in the property of the company ever since the company became a public limited concern. He has not shown any interest in the property of the company.

    The interest of Promoter in the Intellectual Rights of the company

    He has not shown any interest in acquiring the intellectual rights of the company.



    Bright Solar IPO Offer Details or Issue Details

     Particulars No. Of Equity Shares
     Equity Shares Offered54,00,000 Equity Shares of Rs 10/- each at an Issue Price of Rs 36/- each aggregating to Rs 1944.00 Lakh
     Of which:
     Reserved for Market Makers2,70,000 Equity Shares of Rs 10/- each at an Issue Price of  Rs 36/- each aggregating to Rs  97.20 Lakh
     Net Issue to the Public51,30,000 Equity Shares of Rs 10/- each at an Issue Price of Rs 36/- each aggregating to Rs 1846.80 Lakh
     Of which:
     Retail Investors Portion25,65,000 Equity Shares of Rs 10/- each at an Issue Price of Rs 36/- each aggregating to Rs 923.40 Lakh
     Non-Retail Investors Portion25,65,000 Equity Shares of Rs 10/- each at an Issue Price of Rs 36/- each aggregating to Rs 923.40 Lakh
     Equity Shares outstanding prior to the Issue1,50,00,000 Equity Shares of  Rs 10/- each
     Equity Shares outstanding after the Issue 2,04,00,000 Equity Shares of Rs 10/- each

    Bright Solar Limited IPO Issue Object

    These are the IPO Issue Objects of the company

    • Acquisition, Registration, and Stamping of the lands and the charges that are incurred.
    • To generate fund for the working capital of the company
    • To make up for the general corporate expenses of the company
    • To manage the expenses of the issue

    These are the main reasons why the IPO is being floated by the company.


    Lets read about other IPO Reviews

    Bright Solar Limited IPO Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors. The face value of each share is Rs 10 and the price band of the IPO is Rs 36 per share.

    Qualitative factors are:

    • Assurance of Quality
    • A long-term relationship with customers
    • Projects are completed well before the deadline
    • Rs 9789.91 lakhs of order book maintained by the Promoters and management team of the company

    Quantitative factors are:

    • Basic and Diluted Earnings per Share (EPS)
    • Price to Earnings (P/E) ratio in relation to Issue Price of Rs 36
    • Return on Net Worth
    • Minimum Return on Increased Net Worth required to maintain pre-issue Earnings Per Share
    • Net Asset Value per Equity Share
    • Comparison of Accounting Ratios with Peer Group Companies

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    Bright Solar Limited IPO Registrar to the Issue

    Registrar to the Issue
    Alankit Assignments Limited

    Bright Solar Limited IPO Lead Manager

    Lead manager to the issue
    Swastika Investmart Limited

    Bright Solar IPO Review by Top 10 Stock Brokers

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking6.4/106.3/106.4/106.2/106.2/10
    Sharekhan6.4/106.2/106.4/106.2/106.4/10
    Kotak Securities6.3/106.4/106.3/106.2/106.3/10
    ICICI Direct6.3/106.3/106.3/106.2/106.2/10
    IIFL6.4/106.4/106.4/106.2/106.2/10
    Edelweiss6.4/106.3/106.3/106.3/106.4/10
    Zerodha6.3/106.2/106.4/106.2/106.2/10
    5Paisa6.2/106.2/106.3/106.2/106.2/10
    Karvy6.3/106.3/106.4/106.2/106.2/10
    Motilal Oswal6.2/106.2/106.4/106.3/106.4/10

    Bright Solar Limited IPO Grey Market Premium

    Bright Solar Limited IPO Grey Market Premium as on 27th June is Rs X; Kostak Rate is Rs 600 and Subject to sauda at Rs 6000.


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