About the Company:
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”.
Company is also engaged 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 solar pump system company has a wide range of products of DC Solar Pump, Solar Pump Inverter and AC Solar Pump.
In the year 2017-18, Company has also started providing consultancy services for acquiring projects and tender bidding after identifying competent client on tender to tender basis.
In addition, they have also been added water supply, sewerages infra project in their service portfolio. they have also been awarded water supply and sewerages projects.
To sum up, they are into assembling of DC/AC Solar Pumps and Solar Pump Systems, EPC contracts of Solar Photovoltaic Water pumps, consulting of Projects and tenders, Water supply and Sewerages Infra Project. We are planning to commence Solar Module manufacturing and water treatment plant assembling unit.
Till date Company has completed majorly 19 projects of Design, Supply, Installation & commissioning of Solar PV Water Pumping System of Rs.109.19 crores approximately.
Company has a order book of solar pumping & water supply & sewage projects of Rs.97.81 crores (8 projects)
Company’s Products:
- Solar Water Pumping System.
- DC Solar Pumps.
- AC Solar Pumps.
- Solar Pumping Controller – Inverter.
- Solar Panels/Modules.
Revenue Breakup of Products & Services: (in Lakhs)
Projects Completed by the Company in Solar Water Pumping System integration & EPC Sector:
Management Team:
- Mr. Piyushkumar Thumar (Designation: Chairman & Managing Director)
- Mr. Dwarkadas Thumar (Designation: Whole Time Director)
- Mrs. Jagrutiben Joshi (Designation: Non – Executive Director)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Mr. Piyushkumar Thumar | 1,40,40,000 | 1.48 |
Objectives of the Issue:
- Acquisition of Land, its Registration, Stamping and other charges.
- Working Capital.
- General Corporate Purpose.
- Issue Expenses.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Acquisition of Land, its Registration, Stamping and other charges for setting up Solar PV Modules/Panels manufacturing unit. |
3.86 |
| Working Capital requirements | 11.67 |
| General Corporate Expenses | 3.48 |
| Issuse Expenses | 0.90 |
| Net Proceeds | 19.92 cr |
Financials of the Company:
| (in Crores) | FY 13 | FY 14 | FY 15 | FY 16 | FY 17 | FY 18 |
|---|---|---|---|---|---|---|
| Revenue | 22.39 | 28.46 | 47.84 | 15.47 | 18.12 | 28.27 |
| Net Profit | 0.38 | 0.54 | 1.96 | 0.70 | 1.71 | 5.34 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW (%) | NAV |
|---|---|---|---|---|---|
| Bright Solar Limited | 10 | 1.14 | 31.58 | 16.80% | 6.79 |
| Urja Global Limited | 1 | 0.02 | 288.78 | 0.84% | 2.41 |
| Shakti Pumps (India) Ltd | 10 | 11.71 | 55.34 | 9.62% | 120.60 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 26th June 2018 |
| Issue Closes on:. | 29th June 2018 |
| Issue Price | Rs.36 |
| Face Value | Rs.10 |
| Minimum Lot | 3000 |
| Minimum Investment | Rs.1,08,000 |
| Issue Constitutes | 26.47% |
| Issue Size | Rs.19.44 cr |
| Market Cap | Rs.73.44 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 54,00,000 |
| Equity Shares Prior to the Issue | 1,50,00,000 |
| Equity Shares after the issue | 2,04,00,000 |
Important Dates:
| Finalization of Basis of Allotment | on or Before 4th July 2018 |
| Initiation of Refunds | on or Before 6th July 2018 |
| Credit of Equity Shares: | on or Before 6th July 2018 |
| Listing Date: | on or Before 9th July 2018 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 1.14 | 31.58 | 16.80% | 6.79 |
| Company Contact Info: |
|---|
| Bright Solar Ltd C-1103, Titanium Square, Thaltej Circle, S G Highway, Thaltej, Ahmedabad – 380 059, Gujarat Tel No.: +91 – 79 – 4892 6868 Email: compliance@brightsolar.co.in Web site: www.brightsolar.in |
| IPO Registrar Info: |
|---|
| Alankit Assignments Limited Alankit Heights, 1E/13, Jhandewalan Extension, New Delhi – 110 055 Tel No.: 011–4254 1234; 2354 1234(B), Fax No.: 011–4154 3474 Email Id: ipo@alankit.com Investors Grievance Id: bsl_igr@alankit.com Website: www.alankit.com |
| Lead Manager to the Issue: |
|---|
| SWASTIKA INVESTMART LIMITED SEBI Registration Number: INM000012102 Address: 305, Madhuban Building, Cochin Street, S.B.S. Road, Fort, Mumbai – 400 001. Tel No.: +91 – 22 – 2265 5565 Fax No: +91 – 22 – 664 4300 Email Id: merchantbanking@swastika.co.in Investors Grievance Id: investorgreivance@swastika.co.in Website: www.swastika.co.in |
