Waa Solar Limited IPO
|Issue opens||May 31, 2018|
|Issue Closes||June 4, 2018|
|Issue Size||28.18 Cr|
|Lead Manager||Guiness Corporate Advisors Pvt Ltd|
|Registrar||Bigshare Services Pvt. Ltd|
Incorporated in 2009, Gujarat based Waa Solar Limited is a company engaged in solar power generation by setting up Solar Power Project and by investing in Special Purpose Vehicle (“SPV”) associate and subsidiaries companies which are engaged in solar power generation activities.
In 2010, Gujarat Urja Vikas Nigam Limited (“GUVNL”) has awarded the company 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 has entered into Power Purchase Agreement (“PPA”) and agreed to purchase such power through distribution companies (“Discom”).
In 2013, Airport Authority of India, has entered into PPA with the company for setting up a solar power plant of 100 KWP at Raja Bhoj Airport, Bhopal on Built, Own and Operate (“BOO”) basis for a tenure of 25 years.
Object of the Issue
The present Public Issue of 20,00,000 Equity Shares includes a Fresh Issue of 17,50,000 Equity shares and an offer for sale by the Selling Shareholder of 2,50,000 equity shares at an issue price of ` 161 per Equity Share.
The Offer for Sale: The Company will not receive any proceeds from the Offer for Sale.
Fresh Issue: The objects of the Issue are:
- Investment in Subsidiary Companies
- General Corporate Purpose,
- Meeting Public Issue Expenses.
|Particulars||For the year/period ended (in Rs. Lakhs)|
|Profit After Tax||427.50||633.98||1,152.70||538.07||828.28|
The promoter of the company is Madhav Power Private Limited. Madhav Power Private Limited (“MPPL”) holds 34,19,982 Equity Shares of our Company constituting 70.03% and 51.56 % of pre-issue paid-up capital and post issue paid-up capital respectively.
Contact Company Information:
Waa Solar Limited
Nr. Panchratna Building,
Subhanpura, Vadodara, Gujarat -390023
Phone: 0265 -2290722
For Beeline Assistance: Contact Here