Solex Energy Limited is engaged in providing renewable energy solutions. This company specialized in the manufacturing of Solar photovoltaic module, solar home light, solar street light, solar lantern, solar power plant, solar inverters, solar water heating systems and wood-fired water heater etc. The headquarter of this company in Anand. The company’s SME IPO wi be open for application starting from 22nd January 2018. Let me take you through the Solex Energy Limited IPO review on the basis of the issue date, IPO price and draft red herring prospectus.
About Solex Energy Limited IPO :
- IPO Opens on – January 22,2018.
- IPO Closes on – January 25,2018.
- Face Value – Rs 10 Per Equity Share.
- Issue Price – Rs 52 Per Equity Share.
- Issue Type – Book Built Issue IPO.
- Retail Allocation – 50%
- Market Lot – 2000 shares.
- Minimum Order Quantity – 2000 shares.
- Issue Size – 1,380,000 Equity Shares of Rs 10 aggregating up to Rs 7.18 Cr.
- Listing Exchange – NSE SME Exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- To Meet Working Capital Requirement.
- To Meet the Issue Expenses.
- General Corporate Purpose.
About The Company –
- Solex Energy Limited provides the offered appliances in numerous specifications and customization in accordance with the demands of customers.
- This company’s manufacturing facility is situated in Anand, Gujarat.
- The product ranges of this company are Solar PV Module (3WP – 325 WP), Solar Lanterns (CFL & LED Base), Solar Home Light System (CFL & LED Base), Solar Street Light System (CFL & LED Base), Solar Off-Grid Power Plant (Solar Rooftop Systems), Solar Grid Connected Power Plant, Solar Water Heater Flat Plant Collector, Solar Water Heater ETC Type, Solar Submersible Pump (AC & DC), Solar Surface Pump (DC).
- Solex Energy Limited also provide solution for solar roof top system, solar home and rural lighting system, solar power pack and solar power plant.
- The quality products of this company with stand the toughest environmental condition to provide the perfect solution for electricity generation.
- The PV Modules of this company are made of highly efficient mono and poly crystalline solar cell which are resistant to rain, water, abrasion and hail impact.
Promoters of the company :
- Mr Kalpeshkumar Ramanbhai Patel, age 47 Years, is the promoter of this company.
Solex Energy Limited IPO Review: The profitability of the company is on steady rise over the past few years. They have managed to multiply their profits by 3-4 times year-on-year. The company also has an attractive business model targeting eco-friendly equipment using the solar energy. The issue is fully priced at the issue price of Rs. 52. Hence, our Solex Energy Limited IPO review has a POSITIVE view on this issue and we feel investors can apply with a medium to long-term view.