Incorporated in 2005, Indosolar Limited is a leading Indian manufacturer for photovoltaic cells. Indosolar manufactures poly-crystalline solar photo-voltaic (SPV) cells from silicon wafers utilizing crystalline silicon SPV cell technology for converting sunlight directly into electricity through a process known as the photo-voltaic effect. Indosolar Ltd market and sell their products to primarily module manufacturers on a business-to-business platform, who in turn supply to the system integrators who install the systems for grid and off-grid (roof top) applications for use in the domestic market as well as markets in Europe, Spain, Japan, Asia, Canada and USA.
Company's manufacturing facility for SPV cells in Greater Noida currently comprises of one SPV cell manufacturing line having an annual capacity of 80 MW which commenced commercial production in July, 2009. Another SPV cell manufacturing line having an annual manufacturing capacity of 80 MW is expected to be commissioned and will commence commercial production in March 2010, resulting in aggregate annual capacity of 160 MW as part of their expansion plan. Company intends to increase their annual production capacity to approximately 260 MW by April 2011, with the commercial production through the proposed Line 3, which we intend to finance out of the Net Proceeds. The Line 3 is expected to be completed in February 2011 and is expected to commence commercial production in April 2011.
Promoters of the Company are:
1. Mr. Bhushan Kumar Gupta; and
2. Mr. Hulas Rahul Gupta
The object of the issue are:
1. to finance the expansion of their annual manufacturing capacity for SPV cells by adding a third line of 100 MW, ("Line 3"); and
2. for general corporate purposes.
| IPO Opening Date | Sep 13, 2010 |
| IPO Closing Date | Sep 15, 2010 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹29 to ₹32 per equity share |
| Market Lot | 200 Shares |
| Min Order Quantity | 200 Shares |
| Listing At | BSE, NSE |
| Issue Size | 123,103,448 Eq Shares of ₹10 (aggregating up to ₹357.00 Cr) |
The Indosolar IPO market lot size is 200 shares. A retail-individual investor can apply for up to 31 lots (6200 shares or ₹198,400).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 200 | ₹6,400 |
| Maximum | 31 | 6200 | ₹198,400 |
CRISIL has assigned an IPO Grade 3 to Indosolar Ltd IPO. This means as per CRISIL company has 'Average Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CRISIL IPO Grading Document for Indosolar Ltd.
Indosolar Ltd IPO, Indosolar IPO, Indosolar IPO Bidding, Indosolar IPO Allotment Status, Indosolar drhp and Indosolar Ltd IPO listing.
The Indosolar IPO is subscribed 1.55x times on Sep 15, 2010 17:00. The public issue subscribed 1.81x in the retail category, 1.44x in the QIB category, and 1.30x in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | IPO Subscription |
|---|---|
| QIB | 1.44x |
| NII | 1.30x |
| RII | 1.81x |
| Total | 1.55x |
| Listing Date | Wednesday, September 29, 2010 |
| BSE Script Code | 533257 |
| NSE Symbol | INDOSOLAR |
| Listing In | B Group of Securities |
| ISIN | INE866K01015 |
| IPO Price | ₹29 per equity share |
| Face Value | ₹10 per equity share |
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Indosolar Ltd
Indosolar Limited,
C-12, Friends Colony (East),
New Delhi 110065, India.
Phone: +91 11 26841375
Email: atul.mittal@indosolar.co.in
Website: http://www.indosolar.co.in
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: indosolar.ipo@linkintime.co.in
Website: http://www.linkintime.co.in
Lead Manager Reports
Indosolar IPO is a main-board IPO of 123,103,448 equity shares of the face value of ₹10 aggregating up to ₹357.00 Crores. The issue is priced at ₹29 to ₹32 per equity share. The minimum order quantity is 200 Shares.
The IPO opens on Sep 13, 2010, and closes on Sep 15, 2010.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Indosolar IPO opens on Sep 13, 2010 and closes on Sep 15, 2010.
Indosolar IPO lot size is 200 Shares and the minimum order quantity is 200 Shares.
You can apply in Indosolar 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 Indosolar IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Indosolar IPO allotment status.
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