Business description – Bright Solar is engaged in assembling of DC/AC Solar Pumps and Solar Pump Systems under the registered brand name of “PUMPMAN”, “BRIGHT SOLAR”, and “BRIGHT SOLAR WATER PUMP”. The company is also engage in EPC contracts of Solar Photovoltaic Water pumps which include supplying, installing and commissioning of the pump system along with comprehensive maintenance contract for a specific period of 1-5 years.
In the year 2017-18, the company started providing consultancy services for acquiring projects and tender bidding after identifying competent client on tender to tender basis. In addition, it has also added water supply, sewerages and infra project in its service portfolio. It has also been awarded water supply and sewerages projects. The company is in process of acquiring land admeasuring area of 18209 Square meters at Khata No. 338, Survey No. 415-1, Village: Fagvel, Ta:- Kathlal, Dist:- Kheda, Gujarat and on which the company is planning to set up manufacturing unit for Solar PV modules/panels. Bright Solar is also planning to set up water treatment plant assembling unit at Patna (Bihar).
Promoters of Bright Solar – Mr Piyushkumar Babubhai Thumar
| Bright Solar IPO details | |
| Subscription Dates | 26 – 29 June 2018 |
| IPO Price band | INR36 per share |
| Fresh issue | 5,400,000 shares (INR19.44 crore) |
| Offer for sale | Nil |
| Total IPO size | 5,400,000 shares (INR19.44 crore) |
| Minimum bid (lot size) | 3,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | NSE Emerge SME platform |
Use of funds
- Acquisition of Land, its Registration, Stamping and other charges for setting up Solar PV Modules/Panels manufacturing unit – INR3.43 crore
- Working capital requirements – INR11.68 crore
- General corporate purposes – INR3.48 crore
- Issue expenses – INR0.85 crore
| Bright Solar’s financial performance (in INR crore) | ||||||
| FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | 10M FY2018 | |
| Total revenue | 22.4 | 28.5 | 47.8 | 15.5 | 18.1 | 28.3 |
| Total expenses | 21.9 | 27.7 | 44.9 | 14.4 | 15.6 | 20.9 |
| Profit after tax | 0.4 | 0.5 | 2.0 | 0.7 | 1.7 | 5.3 |
Bright Solar’s Contact Details
Bright Solar Limited
C-1103, Titanium Square, Thaltej Circle
S G Highway, Thaltej
Ahmedabad – 380 059
Phone: +91 79 – 4892 6868
Email: [email protected]
Website: www.brightsolar.in
Bright Solar IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.08 |
| Day 2 | 0.28 |
| Day 3 | 1.00 |
| Day 4 | 1.76 |
Bright Solar Valuation (Latest FY)
Earnings Per Share (EPS): INR1.14
Price/Earnings (P/E) ratio: 31.58
Return on Net Worth (RONW): 16.8%
Net Asset Value (NAV): INR6.79 per share
Registrar of Bright Solar IPO
Alankit Assignments Limited
205-208, Anarkali Complex,
Jhandewalan Extension
New Delhi – 110 055
Phone: +91 11 4254 1234
Fax: +91 11 4154 3474
Email: [email protected]
Website: www.alankit.com
Bright Solar IPO Allotment Status
Bright Solar IPO allotment status is now available on Alankit Assignments’ website. Click on this link to get allotment status.
Listing performance of Bright Solar
IPO Opening Date: 26 June 2018
IPO Closing Date: 29 June 2018
Finalisation of Basis of Allotment: 4 July 2018
Initiation of refunds: 6 July 2018
Transfer of shares to demat accounts: 6 July 2018
Listing Date: 9 July 2018
Listing Price on NSE SME: INR36.6 per share (up 1.67% from IPO price)
Closing Price on NSE SME: INR36.95 per share (up 2.63% from IPO price)
