Oriana Power's initial public offer (IPO) hit Dalal Street on Tuesday, August 1. The SME IPO will be open for subscription for three trading days, from 10 am to 5 pm, till Thursday, August 3. Oriana Power is a Noida-based provider of solar energy solutions.

Here are key things to know about the Oriana Power SME IPO:
 

Subscription update

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

By noon on Tuesday, the first day of the bidding process, the IPO was subscribed 3.2 times, according to provisional exchange data.

The company closed a pre-IPO round on July 31, with investments from investors including JSW Energy's Prashant Jain, Meru Founder Neeraj Gupta and MSMEx's Amit Kumar.

Oriana Power SME IPO: Price band

The company has fixed a price band of Rs 115-118 per share for the IPO. The Oriana Power IPO comprises 50.55 lakh equity shares with a face value of Rs 10 each.

Oriana Power SME IPO listing date

The shares will likely be listed on August 11, on the NSE SME exchange.

Oriana Power IPO: Allotment date

The shares will likely be allotted to eligible investors on August 8.

Subscribers will be able to check the allotment status on the website of registrar Skyline Financial Services Private Ltd. Here's the direct link.

Oriana Power IPO: Fund utilisation

The firm plans to use the IPO proceeds to fund its working capital requirements, investment in subsidiary companies, capital expenditure and general corporate purposes, according to the red herring prospectus (RHP).

About Oriana Power

Oriana Power provides solar energy solutions to industrial and commercial customers. Oriana Power offers low-carbon energy solutions, which involve on-site solar project installations that are rooftop and ground-mounted systems and off-site solar farms.

 

(With inputs from PTI)

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.