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Bright Solar Limited IPO (Bright Solar IPO) Detail

Jun 26, 2018 - Jun 29, 2018

Incorporated in 2010, Gujarat based Bright Solar Limited is a company engaged in assembling of DC/AC Solar Pumps and Solar Pump Systems under the registered brand name of "PUMPMAN", "BRIGHT SOLAR", and "BRIGHT SOLAR WATER PUMP". The company is also engaged in EPC contracts of Solar Photovoltaic Water pumps which include supplying, installing and commissioning of the pump system along with comprehensive maintenance contract for a specific period of 1-5 years. In solar pump system, it has a wide range of products of DC Solar Pump, Solar Pump Inverter, and AC Solar Pump.

In the year 2017-18, the company started providing consultancy services for acquiring projects and tender bidding after identifying the competent client on the tender to tender basis. In addition, we have also been added water supply, sewerage, and infra project in its service portfolio. We have also been awarded water supply and sewerage projects. Bright Solar is in the process of acquiring a land admeasuring area of 18209 Square meters at Kheda, Gujarat and on which the company is planning to set up a manufacturing unit for Solar PV modules/panels. The Company has already executed an agreement to sell for the acquisition of land. It is also planning to set up a water treatment plant assembling unit at Patna (Bihar).

To sum up, Bright Solar is into assembling of DC/AC Solar Pumps and Solar Pump Systems, EPC contracts of Solar Photovoltaic Water pumps, consulting of Projects and tenders, Water supply and Sewerages Infra Project. The company is planning to commence Solar Module manufacturing and water treatment plant assembling unit.

The company has 18 permanent employees on its payroll.

Company Financials

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 3,309.49 2,212.31 3,892.34 818.82 1,978.49
Total Revenue 1,812.99 1,547.06 4,784.25 2,846.13 2,239.93
Profit After Tax 171.11 70.53 196.87 54.29 38.02

Objects of the Issue

The objects of the Issue are:

1. Acquisition of Land, its Registration, Stamping, and other charges
2. Working Capital,
3. General Corporate Purpose,
4. Issue Expenses.

Bright Solar IPO Details

Bright Solar IPO Date Jun 26, 2018 to Jun 29, 2018
Bright Solar IPO Face Value ₹10 per share
Bright Solar IPO Price ₹36 per share
Bright Solar IPO Lot Size 3000 Shares
Issue Size5,400,000 shares of ₹10
(aggregating up to ₹19.44 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Company Promoters

The Promoter of the Company is Mr. Piyushkumar Thumar.

Bright Solar IPO Timeline (Tentative Timetable)

Bright Solar IPO opens on Jun 26, 2018, and closes on Jun 29, 2018. The Bright Solar IPO bid date is from Jun 26, 2018 10.00 A.M. to Jun 29, 2018 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Date
Bright Solar IPO Opening Date Jun 26, 2018
Bright Solar IPO Closing Date Jun 29, 2018
Basis of Allotment Jul 4, 2018
Initiation of Refunds Jul 6, 2018
Credit of Shares to Demat Jul 6, 2018
Bright Solar IPO Listing Date Jul 9, 2018

Bright Solar IPO Lot Size

The Bright Solar IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹108,000).

Application Lots Shares Amount
Retail (Min) 1 3000 ₹108,000
Retail (Max) 1 3000 ₹108,000

Bright Solar IPO Review

Inconsistency in its performance for last few years and superb earnings for first 10 months of FY18 raises concern. Though pricing looks reasonable, concern over sustainability of such earnings going forward raises doubt. Hence risk savvy investors may consider investment on their own risk. (Other).

Read detail review...


Bright Solar IPO Subscription Status (Bidding Detail)

The Bright Solar IPO is subscribed 1.85 times on Jun 29, 2018 5:00:00 PM. The public issue subscribed 1.49 times in the retail category, times in the QIB category, and 2.21 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII2.21
Retail1.49
Total1.85

Bright Solar IPO Prospectus

Bright Solar IPO Rating

65
3.9
Rating:Rated 3.9 stars
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Bright Solar IPO Listing Date

Listing Date Monday, July 9, 2018
BSE Script Code
NSE Symbol BRIGHT
Listing In
ISIN INE684Z01010
IPO Price ₹36 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
IPO Price: ₹36.00
Open: ₹37.75
Low: ₹37.75
High: ₹37.75
Last Trade: ₹37.25

Company Contact Information

Bright Solar Limited
C-1103, Titanium Square,
Thaltej Circle, S G Highway,
Thaltej, Ahmedabad - 380 059
Phone: +91 - 79 - 4892 6868
Email: compliance@brightsolar.co.in
Website: http://www.brightsolar.in/

Bright Solar IPO Registrar

Alankit Assignments Ltd

Phone: (011) 4254 1234
Email: ipo@alankit.com
Website: https://www.alankit.com/

Bright Solar IPO Review

Bright Solar IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 0 0 0

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IPO Broker Recommendations

Bright Solar IPO FAQs

Bright Solar IPO is a SME IPO of 5,400,000 equity shares of the face value of ₹10 aggregating up to ₹19.44 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000 Shares.

The IPO opens on Jun 26, 2018, and closes on Jun 29, 2018.

Alankit Assignments Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

The Bright Solar IPO opens on Jun 26, 2018 and closes on Jun 29, 2018.

Bright Solar IPO lot size is 3000 Shares and the minimum order quantity is .

You can apply in Bright Solar IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Bright Solar IPO will be done on Jul 4, 2018, and the allotted shares will be credited to your demat account by Jul 6, 2018. Check the Bright Solar IPO allotment status.

The Bright Solar IPO listing date is on Monday, July 9, 2018.
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Bright Solar IPO Message Board

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141 Comments

66. kobramail |   Link |Jul 31, 2018 12:00:57 PM
my (SBI) amount also not blocked, I ask to my broker and he say today afternoon block your amount.
65. RajeshPat |   Link |Jul 27, 2018 3:17:05 PM
58 rs @ipoanalyst u may be agree with me now that this company has given good return as of now
64. RajeshPat |   Link |Jul 25, 2018 1:19:51 PM
52 rs enjoy
63. RajeshPat |   Link |Jul 23, 2018 9:28:49 AM
Today it reach to 45 . I have said for 3 months but it reach in 1 month. People who have still faith in company can go for long time
62. IPOANALYSIS |   Link |Jul 12, 2018 3:51:22 PM
the rally in stock market is nothing as only few stocks like reliance, HDFC, TCS have gained

just look at most of stocks when market were at previous high and compare it now

seems a few stocks have gained on top just to show index is gaining.
nothing to be overjoyed with this market rally

62.1. Cautious ipo |   Link |Jul 12, 2018 4:51:57 PM
IPO Guru IPO Guru (1500+ Posts, 900+ Likes)
Use it as exit opportunity , market soon start discounting upcoming loksabha election and possible bjp debacle which may limit even bellow 100 seat too.
62.2. IPOANALYSIS |   Link |Jul 12, 2018 10:24:57 PM
It's just like crony capitalism where in only a few stocks gain. 80 pc of stock are ruling at 52 week low. People were more happy when index was at 30000 as most of stocks have been rising. This index gain means nothing for Indian as no one would have made any money .
61. IPOANALYSIS |   Link |Jul 11, 2018 2:21:22 PM
I bought Airan at 240 around just few days before bright solar. Airan is now at 340 rs . I also mention that I have bought airan at 240.
60. IPOANALYSIS |   Link |Jul 10, 2018 3:28:09 PM
Still hovering around same issue price.
many other sme have given spectacular returns in these 2 days.
still a good question anyone can answer. why not buy from secondary market rather than waiting and apply in new ipo
60.1. RajeshPat |   Link |Jul 11, 2018 1:39:34 PM
Agree with you. that is also good idea . Someone want to buy later stage after performance of IPO they can also buy that stage.
60.2. IPOANALYSIS |   Link |Jul 11, 2018 2:19:28 PM
Rajesh,. That was what I mean that there is no use to apply for IPO now. Check the history most of them are gettable at around issue price .I think retailer should just stop apply any Ipo some from now on. Check a few old sme already listed and they are doing better. Check performance of Airan .I stead of apply in I'll it's better of buy old sme as previous and have used money and can give better returns as well. Also most of new IPO are priced too high
59. IPOANALYSIS |   Link |Jul 10, 2018 10:29:13 AM
u challenge and loser have already lost. lok at your challenge.

innovators facade was expensive as per P/E and it has been many months and is still down about 20% from issue price

yuor another account has been blocked rahul rii and now you created new one again rahul riii
you need special care . please go to doctor
58. IPOANALYSIS |   Link |Jul 9, 2018 11:02:24 PM
1)Market did well today
2)many sme today have done well and up betwen 5 to 10 %
3)the complete day it was available at aroudn 36.55 and of anyone would have applied this for listing gain would have already sold between 36.55 to 37 which is not that great consider market doing well today. anyone who picked from secondary market sme would have made more
i agree there was no loss but no profit for listing day as well as noone can catch high price on every stock
if i consider highest price of any sme then many stocks remain in such range today and that means any stock i picked and look at its highest price to sell . if that happens everyone would make profits in every stock .

i amn not sure about the price from here after but if anyone looks at listing point of view its neither bad and neither good. remember today have been good day for market where by many stock rallied.

Again would say there is nothing missed if anyone did not apply in this one for listing gain point of way. infact trade today on multple stocks made more money

58.1. IPOANALYSIS |   Link |Jul 9, 2018 11:05:31 PM
remember if anyone owuld have applied from listing gain pint of view would have already sold at around 36.80 or so which is it average price today and negligent profit as per today market exceptional gains.


58.2. IPOANALYSIS |   Link |Jul 9, 2018 11:50:53 PM
That's why this Buffett quote remains a powerful life lesson. The mega-mogul said:

The difference between successful people and really successful people is that really successful people say no to almost everything.

choose quality scrips .
57. IPOANALYSIS |   Link |Jul 9, 2018 10:44:38 PM
Dear Moderator,

Can you please check Rahul rii post as these are offensive and he will try to give some nonsense message.
he is the fake if of shaeblaster whose account have previously been blocked but he keeps create new id.
his account has been blocked on my complain and since then his only time pass is reading my msg and passing comments

can we please keep block his accounts as they are clearly having motive of passing offensive and nonsense comments
56. IPOANALYSIS |   Link |Jul 9, 2018 10:42:03 PM

despite rahul rii challenging and told he will not show his face again means would not come back again to give his nonsense comments is back again.
we still have such shameful people who comes back even after challenging others with their stupid messages

34. rahul RII Jun 25, 2018 12:10:03 PM
Ganga Forging Limited IPO

@ipoanalysis my chllenge golden oppourtunities to buy innovator facade system its show 80 in one week
55. IPOANALYSIS |   Link |Jul 9, 2018 10:37:00 PM
Rahul rii to bakwaas stocks par bhi positive hota hai.isne challenge kiya tha innovator facade will reach 80 in 1 week.3 weeks bass bhi it's not crossed 60 .Lol. inspire of so much loss in akshar innovative he is positive. By the way complete day it was available at same issue price so nothing too great and market was too positive today. Many more and have done better than this . Aise mat act karo as if stock is up 20 pc circuit. Morever it was easily available at 36.55 complete day and at that time there were no comments .As soon as it went up in end came in nonsense comments from u. Check my last message I clearly said it will be easily available around same issue price which it was. Atleast the profit is not that much as u lost money rahull in innovators facade in it 5 lots
54. rahul RII |   Link |Jul 9, 2018 10:23:46 PM
This message has been removed by a moderator.
54.1. rahul RII |   Link |Jul 9, 2018 10:25:01 PM
1st day start hota h end me uc lgne tak negative commt deta rehta h
54.2. IPOANALYSIS |   Link |Jul 9, 2018 10:28:47 PM
Rahul rii ki habit hai. Jab isse dhakke markar bahar nikala tha grp se. Yeh to har sme ko positive Dekhta hai tabhi isne bet lagayi thi ki have a bet inonvator facade will reach 80 in 1 week. Now 3 weeks have passed and it has not even crossed 80. Share blaster yeah you batao kitna nuksaan hai innovative mein
53. IPOANALYSIS |   Link |Jul 9, 2018 1:13:59 PM
Rajesh suppose i was alloted this share and want to sell on opening listing price was at 36.55. can you please calculate the amount of profit after deduction of stt etc and provide me the numbers.
talking about sme. today many sme are up between 3 to 10 % even in secondary market old sme listed. Please check
53.1. RajeshPat |   Link |Jul 9, 2018 6:47:07 PM
Man , I dont understand why you always want to go for negative side.
1) When i said it will open on positive side you started doubting on me saying i am emp or agent of him. if i follow you than i m good if i say against you than i m bad?
2) Today it reach to 36.6 to 38.4 and close at 36.95. It has given enough chance to investor to exit at different level not like wa solar which keep falling and took money of investor.

Please please please my humble request. you have much more knowledge than me but do not consider only negative side.
I know this company and their promotor so i can say it will reach 40-45 in 3 months span or may be early but i m not saying anyone here to buy it based on my analysis. Investor please dont trust on me nor you trust on ipoanalyst . please apply your mind and if you feel it is good for long term than buy it. else avoid it
53.2. IPOANALYSIS |   Link |Jul 9, 2018 10:23:34 PM
Either u have not read my message properly.check msg .I clearly stated it can go either way but no use to apply in IPO and one can always take a call post listing. U mention that listing will be between 38 to 40 which never happened. The complete day it was available at same issue price which was 36.55 and one can easily buy any required quantity at that price. So why would anyone need to apply in primary market. I always say look to buy later as one can easily get most sme around same issue price on listing. Check my last msg
52. IPOANALYSIS |   Link |Jul 9, 2018 3:40:42 PM
if one would not have applied and instead pick up post listing have higher chance of making money.
those who applied and sold for listing would not have made money but the one who bought today cheaper can make money.
51. IPOANALYSIS |   Link |Jul 9, 2018 3:39:06 PM
almost no gains whole day and post 3 p.m took price up
50. Small Investor |   Link |Jul 9, 2018 2:06:06 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
there are about 1800000 buyer can i buy one lot
49. Small Investor |   Link |Jul 9, 2018 1:24:25 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
pls Admin sir Update IPO Subscription Table in every IPO because this table is very helpful to us for Analysis of IPO Before Apply
49.1. Administrator |   Link |Jul 9, 2018 1:31:46 PM
IPO Mentor IPO Mentor (600+ Posts, 1100+ Likes)
Dear Sir,

We have added a separate page which shows live subscription.

On top of every IPO detail page, you will see a link which say 'Subscription (Live).

i.e. /ipo_subscription/bright-solar-ipo/892/

Thank you,
Team Chittorgarh.com

Thank you,
@Admin, Team Chittorgarh.com

ProStocks - Broker with Unlimited Trades @ Rs 899 Per Month (or Rs 15 per trade) + Zero Account Opening + Rs 0 Equity Delivery Brokerage + AMC Free Demat Open FREE Account

48. RajeshPat |   Link |Jul 9, 2018 12:54:44 PM
Hello Guys Look at it is 37.5 in this bad market too. where SME is not able to perform well. and it has too much selling pressure due to recent bad SME market.
It has reach daily high of 37.95 almost 5% in 10 days if anyone want to Quit.
It will definitely reach 45 with in 3 month
48.1. IPOANALYSIS |   Link |Jul 9, 2018 1:09:43 PM
What rubbish

bad market condition. It is the best market condition. today many stocks are doing good. please check track history before saying something
also it listed flat at 36.55 with no gains. you mention about listing price of 38-40 which never happened.
48.2. IPOANALYSIS |   Link |Jul 9, 2018 1:11:54 PM
check last 5 sme listing of Panthomath. All were up between 5 to 10% on listing day
47. IPOANALYSIS |   Link |Jul 9, 2018 10:43:17 AM
Market doing well as well as global market. Investment of same amount in varocc engineer would have given u profit of 15 000 rupees. Here the profit is almost not there consider the opening price 36.60 as have to pay brokerage. Please answer what was the use if anyone have put in application here.