Bright Solar IPO – Review, Allotment Status, Subscription, Price, Date & more

The Bright Solar IPO is launching soon. The issue size of this IPO is Rs.343 lakhs. 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 Limited 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. 54, 00,000 Equity Shares of Rs 10/- each at an Issue Price of ` 36/- each aggregating to Rs 1944.00 Lakh.

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 is not known yet.

 Bright Solar IPO Subscription

Subscription
Day 1X
Day 2X
Day 3X
Day 4X
Day 5X

The IPO issue date has not been announced yet. Once the IPO date has been issued, the subscription details will be updated regularly.

 Bright Solar Limited IPO Allotment Status

Since the issue date has not been fixed yet, the Allotment Status is not out. The Allotment status will be announced about 3-4 weeks of the IPO issue date.

 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.343.03 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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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.


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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 Repu-tationCompe-titive EdgeFinan-cial State-mentPopu-larity IndexPromo-ters Repu-tation
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

A grey market opens up generally fortnight before the release of the IPO. Thus, the grey market date for his is not yet available. Once the market is open, the grey market premium will also be updated herein.


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