Australian Premium Solar shares list with 159% premium at ₹140 on NSE SME

Australian Premium Solar shares made a bumper stock market debut on Thursday as the stock was listed at 140 apiece, a premium of 159.2% over the issue price of 54, on NSE SME.

After listing, Australian Premium Solar shares extended gains and were locked at 5% upper circuit at 147. 

Australian Premium Solar IPO grey market premium was 100% ahead of the share listing today.

The IPO received strong demand from investors as it was subscribed 464.19 times in total. The public issue was subscribed 535.77 times in the retail category, 107.02 times in Qualified Institutional Buyers (QIB), and 772.87 times in the Non-Institutional Investors (NII) category.

The company raised 28.08 crore from the SME IPO that opened for public subscription on January 11 and closed on January 15.

Also Read: New Swan Multitech shares list with 90% premium at 125.40 on BSE SME

Australian Premium Solar (India) IPO was entirely a fresh issue of 52 lakh shares. The IPO price band was set at 51 to 54 per share. 

Australian Premium Solar IPO allotment was finalized on Tuesday, January 16, and the IPO listing date was fixed on January 18.

Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Australian Premium Solar (India) IPO, while Link Intime India Private Ltd is the IPO registrar.

Australian Premium Solar (India) Ltd is a manufacturer of monocrystalline and polycrystalline solar modules and provides engineering, procurement, and construction (EPC) services for residential, agricultural, and commercial applications.

The company plans to utilise the fresh issue proceeds towards funding capital expenditure, meet working capital requirements and general corporate purpose.

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Published: 18 Jan 2024, 11:50 AM IST

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