Australian Premium Solar witnessed a remarkable stock market debut on Thursday, soaring to ₹140 per share, a substantial premium of 159.2% over its issue price of ₹54, as it joined the NSE SME platform. Post-listing, the company’s shares continued their upward trajectory, reaching the upper circuit limit with a 5% gain, settling at ₹147.
The grey market premium for Australian Premium Solar IPO stood at an impressive 100% ahead of its listing, indicating robust investor anticipation. The IPO drew substantial demand, securing an overall subscription of 464.19 times.
The retail category displayed exceptional enthusiasm with a staggering 535.77 times subscription, while Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) categories were subscribed 107.02 times and 772.87 times, respectively.
The company successfully raised ₹28.08 crore through its SME IPO, which was open for public subscription from January 11 to January 15. The IPO comprised an entirely fresh issue of 52 lakh shares, with a price band set at ₹51 to ₹54 per share. The IPO allotment was finalized on January 16, leading to the listing date on January 18.
Beeline Capital Advisors Pvt Ltd served as the book running lead manager for the Australian Premium Solar (India) IPO, and Link Intime India Private Ltd acted as the IPO registrar.
Australian Premium Solar (India) Ltd specializes in manufacturing monocrystalline and polycrystalline solar modules and provides comprehensive engineering, procurement, and construction (EPC) services for residential, agricultural, and commercial applications. The utilization of fresh issue proceeds is earmarked for funding capital expenditure, meeting working capital requirements, and general corporate purposes.
The stellar market debut and overwhelming subscription underscore the company’s strong position in the renewable energy sector, reflecting investor confidence in its growth prospects and operational capabilities.
