Bright Solar IPO

Bright Solar IPOBusiness 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]

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]

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)

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