Orient Green Power Rights Issue is scheduled on 27 Aug – 13 Sep 2024
Orient Green Power, an Indian company specializing in renewable energy, is dedicated to the development, ownership, and operation of green power plants. With its current focus on wind energy, the company is looking to broaden its scope by investing in solar energy and hybrid models that combine wind and solar power.
As of 31 December 2023, Orient Green Power has an aggregate installed capacity of 402.3 megawatts. The company serves 45 customers, predominantly from the commercial and industrial sectors, with only two customers being state-owned utilities. As of 31 March 2024, Orient Green Power employed a total of 129 people, including its managing directors.
Promoters of Orient Green Power – Janati Bio Power Private Limited, Nivedana Power Private Limited, Syandana Energy Private Limited, and SVL Limited
Table of Contents
Orient Green Power Rights Issue Details
| Orient Green Power Rights Issue Date | 27 Aug – 13 Sep 2024 |
| Orient Green Power Rights Issue Price | INR 13 per share |
| Issue Size (in Shares) | 19,23,07,692 shares |
| Issue Size (in INR) | INR 250 crore |
| Issue Entitlement | 10 equity shares for every 51 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Orient Green Power Rights Issue Record Date | 13 August 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE, NSE |
Orient Green Power Rights Issue Calculation
| Orient Green Power Rights Issue Price | INR 13 per share |
| Market Price on Rights Issue Approval | INR 21.55 per share |
| Dilution Factor (X) | 1.20 |
| Fair Value After Dilution at Prevailing Price | INR 20.15 per share |
Orient Green Power Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 310.63 | 258.31 | 270.98 |
| Expenses | 296.99 | 278.45 | 246.85 |
| Operating Margin (%) | 72.0 | 66.0 | 66.0 |
| Net Income | 35.78 | 33.43 | 38.40 |
| ROCE (%) | 8.0 | 7.0 | 7.0 |
Figures in INR Crores unless specified otherwise
Orient Green Power Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- To invest/ infuse funds in its newly incorporated wholly owned subsidiary namely Delta Renewable Energy Private Limited for developing the 19.8 MW Solar Power Project in Tamil Nadu – INR 143.50 crore
- Repayment/Pre-payment of unsecured loan availed by the company from Gamma Green Power Private Limited & Clarion Wind Farm Private Limited – INR 13.64 crore
- To lend fresh loans to GGPPL and CWFPL to facilitate them to repay/pre-pay in full or part of unsecured loans availed by them from SVL limited, one of the Corporate Promoters of the company – INR 60.36 crore
- Part-payment of security deposits towards contractual lease commitments of Beta Wind Farm Private Limited one of the subsidiaries of the company – INR 5 crore
- General corporate purposes
Orient Green Power Rights Offer Documents
- Orient Green Power Rights Issue Application Form
- Orient Green Power Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Orient Green Power Rights Issue Dates
| Rights Issue Approval Date | 6 August 2024 |
| Rights Issue Record Date | 13 August 2024 |
| Credit of Rights Entitlement | Coming soon |
| Rights Issue Opening Date | 27 August 2024 |
| Last Date for Market Renunciation | 9 September 2024 |
| Rights Issue Closing Date | 13 September 2024 |
| Finalization of Basis of Allotment | 19 September 2024 |
| Rights Allotment Date | 19 September 2024 |
| Credit Date | 24 September 2024 |
| Listing Date | 27 September 2024 |
Orient Green Power Rights Offer Led Manager
SAFFRON CAPITAL ADVISORS PRIVATE LIMITED
605, SiXlh Floor, Centre Pont, Andheri-Kura Road,
J. B. Nagar, Andheri (East), Mumbai – 4 00 059, Maharashtra
Phone:Â +91 22 49730394
Email:Â [email protected]
Website: www.saffronadvisor.com
SUMEDHA FISCAL SERVICES LIMITED
6A Geetanjali, 6th Floor,
8B Middleton Street, Kolkata – 700071
Tel:Â +91 332 229 8936 / 6813 5900
E-mail:Â [email protected]
Website:Â www.sumedhafiscal.com
Orient Green Power Rights Offer Registrar
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building, 1,
Club House Road, Chennai-600002
Telephone:Â +91 44 4002 0700/ 2846 0390
Email:Â [email protected]
Website:Â www.cameoindia.com
Orient Green Power Issue Contact Details
ORIENT GREEN POWER COMPANY LIMITED
Bascon Futura SV, 4th Floor, No.10/1, Venkata Narayana Road,
T. Nagar, Chennai – 600 017, Tamil Nadu, India
Phone: +91 444 901 5678
E-mail:Â [email protected]
Website:Â www.orientgreenpower.com
Orient Green Power Rights Offer FAQs
What is the Orient Green Power Rights Issue Price?
The issue price is INR 13 per share.
What is the Orient Green Power Rights Issue entitlement ratio?
The eligible shareholders are offered 10 Equity Shares for every 51 Equity Shares held on the record date.
What is the Orient Green Power Rights Issue Record Date?
The Record date is 13 August 2024.
How to Apply for the Orient Green Power Rights Offer? The best way to apply for the Orient Green Power Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
