Oriana Power SME IPO: Expected IPO Launch in Late July, Estimated Offer Size of Rs 60 Crore
Oriana Power SME IPO
Noida-based start-up company Oriana Power is gearing up to launch its Initial Public Offering (IPO) in the stock market, which is expected to take place either in late July or early August.
Oriana Power specializes in providing solar energy solutions, and the IPO aims to raise funds to support its expansion and growth plans.
The company plans to raise up to Rs 60 crore through this SME (Small and Medium Enterprises) public offer, reflecting its ambition to leverage the capital market for further development.
In the lead-up to its IPO, Oriana Power has already generated significant interest in the market by securing pre-IPO investments from prominent and well-known investors.
Notably, notable equity investor Anil Kumar Goyal is among the investors who have shown confidence in the company’s potential.
Moreover, Prashant Jain, a seasoned professional with a remarkable 27-year association with JSW Group, also holds an investment in this promising start-up. Presently serving as the Joint Managing Director and CEO of JSW Energy, Jain’s involvement adds further credibility to Oriana Power’s prospects.
A presentation shared by the company highlighted that Meru Cabs founder, Neeraj Gupta, is also counted among the key investors in Oriana Power.
This inclusion of an established entrepreneur as a supporter further underscores the company’s attractiveness to investors.
The anticipation surrounding Oriana Power’s IPO launch reflects the growing interest in sustainable and renewable energy solutions, and investors are keeping a close eye on this upcoming opportunity.
As with all investments, potential investors are advised to carefully assess the company’s business model, financials, and market conditions, seeking professional advice if needed, to make informed investment decisions.
IPO Related Details
Oriana Power, the Noida-based start-up specializing in solar energy solutions, is all set to bring its Initial Public Offering (IPO) to the market, with an expected launch in either late July or early August.
The company has outlined its plans for utilizing the funds raised through the IPO, and key details from the Draft Red Herring Prospectus (DRHP) have shed light on the current and future ownership structure of the company.
Utilization of Funds: According to Neeraj Gupta, the founder and visionary behind Oriana Power, the proceeds from the IPO will serve multiple important purposes.
The primary focus will be on meeting the company’s working capital requirements, ensuring it has the financial resources to operate and expand its solar energy projects effectively.
Additionally, the funds will be earmarked for technology upgradation, enabling Oriana Power to stay at the forefront of innovation and efficiency in the renewable energy sector.
Lastly, the IPO proceeds will be utilized for asset building, empowering the company to develop and invest in new projects to further enhance its portfolio.
Promoters’ Holding: As per the information presented in the DRHP, the current promoters’ holding in Oriana Power stands at 83.40 percent.
However, after the completion of the IPO, Neeraj Gupta’s stake in the company will be diluted, reducing his ownership to 61.40 percent.
This development indicates the entrance of new shareholders through the IPO, allowing more investors to be a part of Oriana Power’s growth story.
Portfolio and Capacity: Oriana Power already boasts a remarkable portfolio of both operational and under-construction solar energy projects across India.
The combined capacity of these projects exceeds 100 MWp, highlighting the company’s dedication to expanding its renewable energy footprint and contributing to India’s clean energy transition.
About the Company – Oriana Power
Oriana Power is a dynamic company co-founded by a group of first-generation entrepreneurs, namely Rupal Gupta, Parveen Jangra, and Anirudh Saraswat.
Established in the year 2017, the company has rapidly grown to become a prominent player in the renewable energy sector, focusing on providing innovative low-carbon energy solutions to its diverse clientele.
Driven by Entrepreneurial Vision: The company’s inception is a testament to the vision and passion of its co-founders, who embarked on a journey to make a positive impact in the field of sustainable energy.
Rupal Gupta, Parveen Jangra, and Anirudh Saraswat’s collective expertise and entrepreneurial spirit have been instrumental in shaping Oriana Power’s growth and success.
Low-Carbon Energy Solutions: At its core, Oriana Power is dedicated to offering environmentally friendly energy solutions to its customers.
One of the key ways it achieves this is by facilitating on-site solar installations. These installations can be found on rooftops of buildings and on the ground, effectively harnessing solar energy to power various facilities and operations.
By providing such on-site solar solutions, Oriana Power enables its clients to reduce their carbon footprint while simultaneously enjoying cost-effective and sustainable energy sources.
Offsite Solar Farms: Beyond on-site installations, Oriana Power also ventures into the establishment of offsite solar farms.
These farms harness solar energy on a larger scale and contribute significantly to the generation of clean power.
Offsite solar farms provide a viable alternative for businesses and organizations seeking to diversify their energy sources and promote sustainability.
Commitment to Clean Energy: Oriana Power’s commitment to clean energy aligns with the global efforts to combat climate change and create a more sustainable future.
By actively promoting and providing access to renewable energy solutions, the company plays a vital role in India’s transition towards a greener economy.
A Leading Renewable Energy Player: Over a relatively short period, Oriana Power has built an impressive portfolio of operational and under-construction projects, boasting a total capacity of over 100 MWp across various locations in India.
This underscores the company’s dedication to expanding its renewable energy footprint and contributing to the nation’s clean energy goals.
Company’s Financial Performance
Oriana Power’s financial performance for the year ended on March 31, 2023, highlights its steady growth and positive momentum in the renewable energy market.
The company has demonstrated commendable progress, evident in its consolidated revenue and profit figures.
Revenue Growth:
Oriana Power’s consolidated revenue for the mentioned fiscal year reached an impressive Rs 137.31 crore. This figure represents a significant increase of 9.87 percent compared to the previous year’s revenue of Rs 124.97 crore.
The consistent growth in revenue signals the company’s ability to attract and serve an expanding customer base, which is vital for long-term sustainability in the competitive energy sector.
Profit Surge:
Equally noteworthy is the company’s substantial increase in profit after tax. In the same financial year, Oriana Power’s consolidated profit after tax surged from Rs 6.94 crore to Rs 10.93 crore.
This substantial growth of 57.49 percent on an annual basis underscores the company’s efficient financial management, cost optimization strategies, and successful execution of projects.
Introduction of TrueRE as Corporate Brand:
In addition to its robust financial performance, Oriana Power has recently introduced “TrueRE” as its corporate brand.
This strategic move reflects the company’s commitment to establishing a strong brand identity and distinguishing itself as a trusted and reliable provider of renewable energy solutions.
The introduction of TrueRE may help the company expand its market presence, foster customer loyalty, and further reinforce its position as a leading player in the industry.
Continued Growth Trajectory:
Oriana Power’s financial performance and the introduction of TrueRE indicate that the company is on a promising growth trajectory.
As it continues to expand its portfolio of solar energy projects and explore new business opportunities, Oriana Power is well-positioned to capitalize on India’s increasing demand for clean energy solutions.
Investment Considerations:
For potential investors evaluating Oriana Power’s IPO, the company’s financial performance and growth potential serve as essential factors to consider.
The steady revenue growth and substantial increase in profit highlight the company’s resilience and ability to generate sustainable returns.
However, as with any investment, it is crucial for interested parties to perform thorough due diligence, assess risk factors, and seek professional financial advice to make informed decisions in line with their investment objectives.
Oriana Power’s journey to become a significant player in the renewable energy sector, coupled with its positive financial indicators and brand development, make it an attractive prospect for those seeking opportunities in the growing field of sustainable energy solutions.
