About the Company:
Solex Energy Ltd (Incorporated in 2014) is engaged providing renewable energy solutions, specialized in the manufacturing of Solar photovoltaic module, solar home light, solar street light, solar lantern, solar power plant, solar invertors, solar water heating systems and wood fired water heater etc.
Solex Energy Limited is an ISO 14001:2015 Certification, ISO 9001:2015 Certification, OHSAS 18001:2007 and CE MARK CERTIFIED offering systems of high quality and reliability. Solex modules are TUV certified & tested by the UL India Pvt. Ltd and comply in accordance with the standards.
They manufacture the offered products using optimum grade components and advanced technology in compliance with the set norms of the industry.
They also provide the offered appliances in numerous specifications and customization in accordance with the demands of the customers.Company’s manufacturing facilities is situated in Anand, Gujarat.
Company’s product ranges from 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).
They also provide solution for solar roof top system, solar home and rural lighting system, solar power pack and solar power plant. Company’s Products are eligible for Subsidy from Government which is reduced from sales value during the sale of Product and thereafter released to Company directly from Government.
Products Manufactured by the Company are as follows:
- Solar CFL Street lighting system and Solar LED Street lighting system.
- Solar Lantern.
- Solar Power Plant, Solar Rooftop System & Solar Photovoltaic Module.
- “Solex” Solar Powerd Petrol Station.
- “Solex” Solar Powered Mobile Tower.
- Solar Water Pumping system-Surface.
- Solar Water Pumping System-Submersible.
- Solar Water Heater (ETC)
- Gas Fired Water Heater.
Certifications and Recognition:-
- Certificate of Compliance as ISO 9001:2015 for its Quality Management Systems.
- Certificate of Compliance as ISO 14001:2015 certified for its Environmental Management Systems.
- Certificate as OHSAS: 18001: 2007 certified for its Health & Safety Management Systems.
- Certified for Photovoltaic Module (PV) by UL India Private Limited for comply with IEC 61701 Standard for Salt Mist Corrosion testing.
- Certified by SGS-TUV SAAR GMBH (Germany) for Solar Products.
Company’s Management Team:
- Mr. Kalpeshkumar Ramanbhai Patel (Designation: Chairman cum Managing Director)
- Mr. Sankar Ray (Designation: Whole Time Director)
- Ms. Ridhi Kalpeshkumar Patel (Designation: Non-Executive Director)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Mr. Kalpeshkumar Ramanbhai Patel | 3479360 | 6.25 |
Promoters Stake Pre & Post Issue:
| Shareholder Name | Pre Issue Stake (%) | Post Issue Stake |
|---|---|---|
| Promoter | ||
| Kalpeshkumar Ramanbhai Patel | 97.73% | 70.43% |
| Total | 97.73% | 70.43% |
Objectives of the Issue:
- To Meet Working Capital Requirement.
- General Corporate Purpose.
- To Meet the Issue Expenses.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| To Meet Working Capital Requirement | 5.75 |
| Public Issue Expenses | 0.45 |
| General Corporate Expenses | 0.97 |
| Net Proceeds | Rs.7.17 crores |
Financials of the Company:
| (in Crores) | FY 15 | FY 16 | FY 17 | 31st July 17 |
|---|---|---|---|---|
| Revenue | 6.37 | 46.62 | 34.49 | 6.35 |
| Net Profit | 0.095 | 0.38 | 0.92 | 0.31 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 22nd January 2018 |
| Issue Closes on:. | 25th January 2018 |
| Issue Price | Rs.52 |
| Face Value | Rs.10 |
| Minimum Lot | 2000 |
| Minimum Investment | Rs.1,04,000 |
| Issue Constitutes | 27.94% |
| Issue Size | Rs.7.17 cr |
| Market Cap | Rs.25.68 cr |
| Listing at | NSE SME |
| Total Equity Shares Offered (Fresh) | 13,80,000 |
| Equity Shares Prior | 35,60,000 |
| Equity Shares after the issue | 49,40,000 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | NAV |
|---|---|---|---|---|
| Solex Energy Limited | 10 | 3.46 | 15.04 | 13.67 |
| Swelect Energy Limited | 10 | 27.50 | 17.06 | 647.90 |
| Zodiac Energy Limited | 10 | 0.67 | 77.61 | 4.27 |
| Ujaas Energy Limited | 10 | 1.82 | 12.86 | 11.43 |
| KP Energy Limited | 10 | 2.46 | 138.30 | 38.44 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 3.46 | 15.04 | 25.29% | 13.67 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Subscribe | Long Term | 20% |
| Company Contact Info: |
|---|
| Solex Energy Limited Plot No. 131/A, Phase 1, Nr. Krimy Industries, GIDC, Vithal Udyognagar, Anand-388121, Gujarat, India. Tel. No. +91-2692-230317, Fax No. – +91-2692-231216 E-mail: info@solex.in Website: www.solex.in |
| IPO Registrar Info: |
|---|
| SKYLINE FINANCIAL SERVICES PRIVATE LIMITED D-153A, 1st Floor, Okhla Industrial Area Phase-I, New Delhi – 110020 Tel No.:+91 11 64732681-88 Fax No.:+91 11 26812682 Email: virenr@skylinerta.com; Grievance Email: grievances@skylinerta.com Website: www.skylinerta.com |
| Lead Manager to the Issue: |
|---|
| SWASTIKA INVESTMART LIMITED 305, Madhuban Building, Cochin Street, S.B.S. Road, Fort, Mumbai, Maharashtra – 400 001. Tel No.:+91–22–2265 5565 Fax No.:+91–22–664 4300 Email: merchantbanking@swastika.co.in Grievance Email: investorgreivance@swastika.co.in Website: www.swastika.co.in |
