Waa Solar IPO

Waa Solar IPOBusiness description - Waa Solar, promoted by Madhav Power Private Limited (MPPL), is engaged in solar power generation in the states of Gujarat, Karnataka and Punjab. On May 21, 2010, Gujarat Urja Vikas Nigam Limited (GUVNL) awarded it the work of setting up of Solar Photovoltaic Grid Interactive Power Plant of 10MW capacity at village Nayka, Taluka-Sami, District Patan, to produce the Electric Energy and for sale of entire electrical energy, so produced, for commercial purpose from such project to GUVNL for a tenure of 25 years. GUVNL entered into Power Purchase Agreement (PPA) dated May 21, 2010 and agreed to purchase such power through distribution companies (Discom). On January 30, 2013, Airport Authority of India, Rajiv Gandhi Bhavan, New-Delhi, entered into PPA with the company for setting up solar power plant of 100 KWP at Raja Bhoj Airport, Bhopal on Built, Own and Operate (BOO) basis for a tenure of 25 years.

Promoters of Waa Solar – Madhav Power Private Limited
Waa Solar IPO details
Subscription Dates 31 May - 4 June 2018
IPO Price band INR161 per share
Fresh issue 1,750,000 shares (INR28.18 crore)
Offer for sale 250,000 shares (INR4.02 crore)
Total IPO size 2,000,000 shares (INR32.2 crore)
Minimum bid (lot size) 800 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On BSE SME platform
Use of funds
  • Investment in Subsidiary Companies - INR21 crore
  • General corporate purposes - INR6.7 crore
  • Public issue expenses - INR0.48 crore
Waa Solar's financial performance (in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017 10M FY2018
Total revenue 27.7 29.0 54.3 46.9 26.1 16.2
Total expenses 19.5 23.6 42.6 40.6 21.8 14.2
Profit after tax 8.3 5.4 11.5 6.3 4.3 1.6
Waa Solar's Contact Details

Waa Solar Limited
Madhav House
Nr. Panchratna Building, Subhanpura
Vadodara, Gujarat - 390023

Phone: +91 0265 2290722
Email: info@waasolar.org
Website: www.waasolar.org

Waa Solar IPO Subscription Details
Day Subscription (no. of times)
Day 1 1.02
Day 2 1.13
Day 3 1.52
Waa Solar Valuation (Latest FY)

Earnings Per Share (EPS): INR10.24

Price/Earnings (P/E) ratio: 15.72

Return on Net Worth (RONW): 4.39%

Net Asset Value (NAV): INR12.95 per share

Registrar of Waa Solar IPO

Bigshare Services Private Limited 
E2, Ansa Industrial Estate, Sakivihar Road,
Sakinaka, Andheri (E)
Mumbai – 400 072

Phone: +91 22 4043 0200 
Fax: 
+91 22 2847 5201
Email:
 ipo@bigshareonline.com
Website: www.bigshareonline.com

Waa Solar IPO Allotment Status

Waa Solar IPO allotment status is now available on Bigshare Services' website. Click on this link to get allotment status.

Listing performance of Waa Solar

IPO Opening Date: 31 May 2018

IPO Closing Date: 4 June 2018

Listing Date: 12 June 2018

Listing Price on BSE SME: INR158 per share (down 1.86% from IPO price)

Closing Price on BSE SME: INR153.15 per share (down 4.87% from IPO price)

Waa Solar IPO
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4 thoughts on “Waa Solar IPO

  • June 4, 2018 at 9:31 AM
    Permalink

    Looking only at the profits is the error most investors make. Look at the cashflow which has been negative. It means this company has been taking more loans to fund its operations.

    Also, I noticed that this company changed its method of depreciation which has improved visible profits but in real terms, it has been a loss making business.

    Reply
  • June 4, 2018 at 9:28 AM
    Permalink

    Read the prospectus and they are all the same. Cheaters!

    Reply
  • May 29, 2018 at 9:13 AM
    Permalink

    Good company and price. They are not inflating their profits like others…

    Reply
    • May 30, 2018 at 8:44 AM
      Permalink

      Yes, but is that all you need? Sales and profits are up and down and that should be a red flag!!

      Reply

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