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Australian Premium Solar IPO
Price Band
₹51.0–54.0
Issue Size
₹28.08 Cr
Lot Size
2,000 shares
Min Investment
₹108,000
GMP
+₹55.0 (101.85%)
Issue Price
₹54.0
Subject to Sauda
₹83600
Paid only if allotted
Australian Premium Solar IPO AI Summary
- Australian Premium Solar IPO is listed on NSE SME in the Other Electrical Equipment sector.
- Price band: ₹51.0–₹54.0 per share, lot size 2,000 shares (min. investment ₹108,000).
- Subscription window: 11 Jan–15 Jan 2024, listing on 18 Jan 2024.
- Current GMP is +₹55.0 (101.85%), an estimated listing price of ₹109 — unofficial and can change daily.
Australian Premium Solar (India) Limited is a manufacturer of solar modules and provides related services. The company has shown fluctuating revenue and profit figures in recent periods. The IPO aims to raise funds for capital expenditure, working capital, and corporate purposes, with a promising GMP indicating potential interest from investors.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Australian Premium Solar IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 15 Jan 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Australian Premium Solar IPO Grey Market Premium (GMP) Today
GMP
+₹55.0
GMP %
+101.85%
Est. Listing
₹109.0
Updated: 25 Jul 2026 14:07
About the Company
Incorporated in 2013, Australian Premium Solar (India) Limited manufactures monocrystalline and polycrystalline solar modules and provides engineering, procurement, and construction (EPC) services for residential, agricultural, and commercial applications. The company manufactures two types of solar panels: Monocrystalline solar panels: The solar cells used in monocrystalline solar panels are more efficient and have a darker, uniform appearance due to their monocrystalline structure, allowing the busbars (copper-coated thin ribbons) to be placed more strategically without significantly detracting from the appearance. Polycrystalline solar panels: Solar cells used in polycrystalline solar panels have a blue or speckled appearance due to their multicrystalline structure; busbars may need to be positioned to accommodate the less uniform appearance of these cells. The company also provides installation services for solar panels and solar pumps for residential and industrial end users, while it also provides installation services for solar pumps for agricultural end users. By August 31, 2023, the company has provided more than 10,000 customers with the installation of solar panels, of which more than 9500 have been installed on the roofs of residential buildings and more than 1300 with solar pumps for agriculture. The company's manufacturing facility is located in Sabarkantha, Gujarat, India. As at July 31, 2023, the company employed a total of 169 people.
Company Financials (₹ Cr)
| Period Ended | 31 Jul 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 44.17 | 39.19 | 34.68 | 35.02 |
| Total Income | 50.27 | 94.96 | 98.33 | 74.44 |
| Profit After Tax | 1.13 | 3.33 | 2.70 | 1.80 |
| NET Worth | 15.63 | 14.47 | 11.13 | 8.47 |
| Reserves and Surplus | 1.09 | 14.45 | 11.11 | 8.45 |
| Total Borrowing | 1.96 | 2.22 | 2.99 | 3.29 |
Key Ratios
EPS
₹2.29
NAV
₹9.95
ROE
26.05%
ROCE
30.62%
RoNW
23.05%
P/E Ratio
23.58
Market Cap
₹106.60 Cr
PAT Margin
3.53%
Debt/Equity
0.15
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Zodiac Energy Limited | 24.64 | 8.85% | 40.79 | 2.18 | — |
| Australian Premium Solar (India) Limited This IPO | 9.95 | 23.05% | 23.58 | 2.29 | 2.29 |
Promoters
Chimanbhai Ranchhodbhai Patel, Savitaben Chimanbhai Patel and Nikunjkumar Chimanlal Patel
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding Capital Expenditure 3.35 2 To Meet Working Capital Requirements 17.03 3 General Corporate Purpos 7.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹98.33 Cr for the year ended 31 Mar 2022, slightly declining to ₹94.96 Cr by 31 Mar 2023. However, the most recent figure for 31 Jul 2023 shows total income at ₹50.27 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹2.70 Cr in the year ending 31 Mar 2022, increasing to ₹3.33 Cr by 31 Mar 2023. The latest figure for 31 Jul 2023 shows profit after tax at ₹1.13 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
The company's implied P/E at the issue price of ₹54.0 is approximately 23.58, compared to peers like Zodiac Energy Limited, which has a P/E of 40.79.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected premium of a stock over its issue price in the grey market before its official listing. A higher GMP suggests strong demand for the stock among investors, while a lower GMP may indicate weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's essential to consider the company's fundamentals and market position.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid investing in IPOs like this, which can experience significant price fluctuations in the early days of trading.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs experience significant gains on their first day of trading, others may not perform as well. Investors should be aware that market conditions and investor sentiment can greatly influence listing performance.
This evaluation is generated from Australian Premium Solar's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Australian Premium Solar IPO GMP today?
Australian Premium Solar IPO GMP today is +₹55.0 (101.85%), indicating an estimated listing price of ₹109. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Australian Premium Solar IPO?
The price band of Australian Premium Solar IPO is ₹51.0–₹54.0 per share.
When does Australian Premium Solar IPO open and close?
Australian Premium Solar IPO opens on 11 January 2024 and closes on 15 January 2024.
When does Australian Premium Solar IPO list on the stock exchange?
Australian Premium Solar IPO listed on 18 January 2024 at ₹109.0.
What is the lot size for Australian Premium Solar IPO?
The lot size for Australian Premium Solar IPO is 2000 shares, requiring a minimum investment of ₹108,000.
What is the price band for the IPO?
The price band for the IPO is ₹51.0 to ₹54.0.
What is the minimum investment required?
The minimum investment required is ₹108,000.
What is the lot size for the IPO?
The lot size for the IPO is 2000 shares.
When is the IPO open for subscription?
The IPO is open for subscription from January 11, 2024, to January 15, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of a stock over its issue price in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
11 Jan 2024
Close
15 Jan 2024
Allotment
16 Jan 2024
Listing
18 Jan 2024
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