About the Company:
KPI Global Infrastructure Ltd is a solar power generating Company focused on providing solar power, both as an Independent Power Producer (“IPP”) under the brand name of ‘Solarism’ and as service provider to Captive Power Producer (“CPP”) customers.
Company builds, owns, operates and maintains grid connected solar power projects as IPP and generate revenue by entering into Power Purchase Agreements (“PPA”) with third parties for selling power units generated through the solar projects.
They also develop, transfer, operate and maintain grid connected solar power projects for CPP customers and generate revenue by selling these projects to CPP customers for their captive use requirements.
Both these businesses, IPP and CPP, are currently carried out at their plant located at Sudi & Tanchha village, Amod, Bharuch, Gujarat (Solarism Plant).
Company has also established a ~13.25 km long 66 KV transmission line from our Solarism Plant to the Gujarat Energy Transmission Corporation Limited (“GETCO”) substation located at Amod, Bharuch, Gujarat (Amod Substation), for evacuation of the solar power generated at our Solarism Plant.
Company’s Business Verticals:
Expansion Project:
Company proposes to increase their solar power generation capacity by setting up another solar power project for 25 MW at Sudi, Samiyala & Tanchha village, Amod, Bharuch, Gujarat (Referred to as Unit II).
The estimated cost of this project would be Rs.132.03 crores and the proposed date of commercial commencement is July 2019.
Company has entered into either PPAs with customers for the proposed sale of power of 25 MW. Post the 107 commercial commencement, Company’s total solar power generation capacity would increase to 40 MW.
Solarism Plant:
The Solarism Plant, comprising of land from Sudi, Samiyala & Tanchha village, Amod, Bharuch, Gujarat, is situated on the stretch of road from Bharuch to Jambusar.
Company is currently operating their Unit I, totaling to 15 MW from this site. They are also proposing to establish another 25 MW (Unit II) at this site.
Solarism Plant Image:
Power Purchase Agreements (“PPA”) with Industrial Consumers:
Company has entered into bilateral PPA’s for a period of 3 years with reputed industrial consumers such as Mafatlal Industries Ltd, Best Paper Mills Private Ltd and Meghmani Organics Ltd for direct sale of the solar power generated at their Solarism Plant.
Promoter Group Companies:
K.P. Energy Limited (“KPEL”)
K.P. Energy Limited (“KPEL”) is a BSE listed Company creating wind farm projects on turnkey basis for WTG manufacturers and investors or Independent Power Producers (IPPs). KPEL is primarily engaged in wind energy business.
K P Buildcon Private Limited (“K P Buildcon”)
Company has a manufacturing facility of 1,25,000 square feet land area, having fabrication and hot dip galvanizing facility, all under one roof located at Dabhasa, Padra, Vadodara, Gujarat – 391440 with an annual installed capacity of 24000 MTs, equipped with latest modern machineries to handle heavy fabrication jobs.
Existing synergies with the Promoter Group Company:
The promoter group entity, K P Buildcon Private Limited (“KPBPL”) is involved in carrying out EPC activities for solar power projects with a capacity of more than 100 MW.
KPBPL has the required manufacturing expertise of steel structures and has provided our Company with the required module mounting structure (MMS) and other steel structures needed in the solar power plant which has helped KPI Global Infrastructure Ltd to further reduce costs.
The existing infrastructure and engineering experience of the promoter group entity helps also helps the Company to take advantage of various synergies within the group.
The promoter group entity is involved in fabrication and galvanizing, is used by KPI Global Ltd as a vendor for construction of module mounting structure (MMS),
Management Team:
- Mr. Faruk G. Patel (Designation: Chairman & Managing Director)
- Mr. Santosh Singh (Designation: Whole Time Director)
- Ms. Bhadrabala D. Joshi (Designation: Director)
Objectives of the Issue:
- To part finance setting up a 25 MW Solar Power Project at Sudi village, Samiyala village, Tanchha village located in Amod Tehsil in Bharuch district of Gujarat (“Proposed Project / Unit II”).
- For General Corporate Purposes.
Peer Group Comparison:
We believe that there are no comparable listed companies of KPI Global Infrastructure size in India, which are engaged in selling Solar Power directly to any third party under open access contracts or selling Solar Power projects or selling solar project land plots. Hence we cannot make any Comparison.
Financials of the Company:
| (in Crores) | FY 16 | FY 17 | FY 18 | 30th Sept 18 |
|---|---|---|---|---|
| Revenue | 27.51 | 26.02 | 31.58 | 18.20 |
| Net Profit | 7.67 | 8.12 | 11.40 | 3.87 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 8th January 2019 |
| Issue Closes on:. | 11th January 2019 |
| Issue Price | Rs.80 |
| Face Value | Rs.10 |
| Minimum Lot | 1600 Shares |
| Minimum Investment | Rs.1,28,000 |
| Issue Constitutes | 27.63% |
| Issue Size | Rs.39.93 cr |
| Market Cap | Rs.144.53 cr |
| Listing at | BSE SME |
| Equity Shares Offered | 49,92,000 |
| Equity Shares Prior to the Issue | 1,30,75,000 |
| Equity Shares after the Issue | 1,80,67,000 |
Important Dates:
| Finalization of Basis of Allotment | on or Before 17th January 2018 |
| Initiation of Refunds | on or Before 18th January 2018 |
| Credit of Equity Shares: | on or Before 21st January 2018 |
| Listing Date: | on or Before 22nd January 2018 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 9.39 | 8.51 | 20.12% | 43.80 |
| Check IPO Allotment Status: |
|---|
Bigshare Website (Click on the below Link)http://www.bigshareonline.com/bssipoapplicationstatus.aspx |
| Find the List of Upcoming IPOs in 2019: |
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Upcoming IPOs in 2019 (Click on the below Link)www.UpcomingIPOs-in-India-2019 |
| Company Contact Info: |
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| K.P.I. Global Infrastructure Limited Shop No A-1/2, Firdos Tower, Near Fazal Tower, Adajan Patia, Surat – 395 009, Gujarat, India Telephone: +91-261-2764757 Email: info@kpgroup.co Website: www.kpiglobal.kpgroup.co |
| IPO Registrar Info: |
|---|
| Bigshare Services Private Limited 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400059, Maharashtra, India Telephone: + 91-22-62638200; Email: ipo@bigshareonline.com Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
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| Vivro Financial Services Private Limited 607-608 Marathon Icon, Veer Santaji Lane, Opposite Peninsula Corporate Park, Off Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013, Maharashtra, India Telephone: +91-22-66668040; Email: kpiglobal@vivro.net Website: www.vivro.net |
