Novus Green Energy IPO – Review, Allotment, Subscription, GMP & DRHP

Novus Green Energy Limited is primarily engaged in EPC contracts of setting-up of power plants and water pumping systems, as an EPC contractor installed 15MWP solar power plants up to November 30, 2018 and also installed more than 6000 numbers of water pumping systems with wide range of systems of DC Solar Pumps and AC Solar Pumps across India.

Let’s have a detailed review of the company and analytics of the Novus Green Energy IPO release date, IPO offer price, subscription, Novus Green Energy IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Novus Green Energy IPO Review & Ratings

Summary of Novus Green Energy IPO

Novus Green Energy Limited is primarily engaged in EPC contracts of setting-up of power plants and water pumping systems, as an EPC contractor installed 15MWp solar power plants up to November 30, 2018 and also installed more than 6000 numbers of water pumping systems with wide range of systems of DC Solar Pumps and AC Solar Pumps across India. It has Initial public offer of up to 26,00,000 Equity Shares of Rs. 10 each, at an Offer Price of Rs. [●] per Equity Share for cash aggregating up to Rs.[●]. 

From FY 2013-14 to FY 2016-2017, as per the Restated Financial Statements,

• The EBITDA and PAT margin of the company in Financial Year 2017- 18 was 11.83% and 6.87% as compared to 6.83% and 2.62% in Financial Year 2016-17.
• The Net Asset Value per Equity Share as at September 30, 2018, March 31, 2018, March 31, 2017 and March 31, 2016 was 68.64, Rs.55.98, Rs. 59.74 and Rs. 46.99 respectively.
• Our Net Worth as per Standalone Restated Financial Statement as at September 30,2018, March 31, 2018, March 31, 2017 and March 31, 2016 was Rs. 1929.69 Lakhs, Rs. 1573.83 Lakhs, Rs. 776.83 Lakhs and  Rs. 611.02 Lakhs respectively.

The Promoters of this company are Mr. Anshuman Yenigalla and Mr. Venkata Ravindra Yenigalla. The lead manager to the issue is CAPITAL SQUARE ADVISORS PRIVATE LIMITED and the Registrar to this issue is Bigshare Service Private Limited.

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Novus Green Energy IPO Date

The opening and the closing date of Novus Green Energy IPO is not known yet.

Novus Green Energy IPO Subscription

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.

Novus Green Energy IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Novus Green Energy IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 

Novus Green Energy IPO Equity Share Offering

Initial public offer of up to 26,00,000 Equity Shares of Rs. 10 each, at an Offer Price of Rs. [●] per Equity Share.

Novus Green Energy Limited – Company Overview

Novus Green Energy Limited was founded in 2009 at Secunderabad, Telangana as a Private company limited by Shares under the provisions of the Companies Act, 1956. They are primarily engaged in EPC contracts of setting-up of power plants and water pumping systems, as an EPC contractor installed 15MWp solar power plants up to November 30, 2018 and also installed more than 6000 numbers of water pumping systems with wide range of systems of DC Solar Pumps and AC Solar Pumps across India. Recently, they have also started to provide project consultancy services for acquiring solar power projects and tender bidding after identifying competent client on tender-to-tender basis.

The Company is promoted by Mr. Anshuman Yenigalla and Mr. Venkata Ravindra Yenigalla and each of their promoters are having good industrial exposure.

Competitive Strengths of Novus Green Energy Limited:

• Well-established EPC player.
• Integrated approach to developing solar power projects by highly experienced development teams.
• Expertise and experience in project management.
• Experience Management and Employees.
• Established relationship with public sector clientele and excellent pre-qualification credentials.
• Design and Engineering team.
• Large Order Book and repeat orders.
• Strong Track record of completed projects across various states in India.
• Strong Track record of consistent financial performance and growth.
• Quality management
• Optimal Utilization of Resources
• Favourable credit rating and access to diversified sources of funds
• Relationship with Client

Business strategies of Novus Green Energy Limited:

• Strengthen market position.
• Technological Up gradation.
• Selectively expand our geographical footprint.
• Continue focusing on enhancing execution efficiency
• Continue to invest in and improve our integrated business model
• Leverage core competencies

Novus Green Energy Systems Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

On the basis of Standalone statement:-

Earnings per Equity Share (in INR Lakhs)

From the above statements, one could find that the Novus Green Energy Systems Limited may perform well.

Novus Green Energy Systems IPO – Promoters

The Promoters of this company are:

• Mr. Anshuman Yenigalla 
• Mr. Venkata Ravindra Yenigalla

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

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

Novus Green Energy IPO Offer Details or Issue Details

Novus Green Energy IPO Issue Object

These are the IPO Issue Objects of the company

• Funding the Working Capital requirements of the Company:
•  To Meet the Issue Expenses
•  General Corporate Purposes

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Novus Green Energy IPO – Basis of the 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.

Qualitative factors are:

• Well-established EPC player
• Integrated approach to developing solar power projects by highly experienced development teams
• Expertise and experience in project management
• Experience Management and Employees
• Established relationship with public sector clientele and excellent pre-qualification credentials
• Design and Engineering team

The relevant quantitative factors are:

• Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each

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Novus Green Energy IPO Lead Managers

Novus Green Energy IPO Registrar to offer

Other Details:

• Statutory Auditor – M/s. NSVR and Associates LLP, Chartered Accountants
• Bankers to the Company – HDFC Bank Limited, Union Bank of India and State Bank of India

Novus Green Energy IPO Review by Top 10 Stock Brokers

Novus Green Energy IPO Grey Market Premium

The Novus Green Energy IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 

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