Waa Solar IPO-Upcoming IPO 2018

In the list of upcoming IPO Waa Solar Limited is planning to launch IPO (Initial Public Offering). The tentative size of the upcoming IPO i.e Waa Solar IPO is 20, 00,000 equity shares. The Public issue consists of Fresh Issue and offer for sale. Waa Solar IPO would open on 31 May and close on 4 th June,2018.

• Waa Solar IPO is 20, 00,000 equity shares.
• The public issue consist of Fresh Issue of 17,50,000 equity shares and Offer for Sale (OFS) of 2,50,000 equity shares at an issue price of 161 per Equity Share.
• Waa Solar IPO will open on 31 May,2018 and close on 4 May,2018.
• Waa Solar Limited is engaged in the business of solar power generation by setting up Solar Power Projects and by investing in Special Purpose Vehicle (SPV) associates.

Waa Solar IPO-New Updates:

1. Waa Solar Limited Profile:

• The company was established on 9 Nov,2009 under the Provision of Companies Act,1956.At the time of incorporation of company, it was a private limited company. As a result the name of the company was “Waa Solar Private limited”.
• Later on the company was converted into Public Limited company on 12 Sept,2013 as a result the name of the company was also changed to “Waa Solar Limited”.
• Waa Solar Limited is engaged in the business of solar power generation by setting up Solar Power Projects and by investing in Special Purpose Vehicle (SPV) associates.
• Initially the company was Mumbai based but later on it was shifted to Gujarat.
• 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.

2. Objective of the Waa Solar IPO:

There are three objective of the IPO. They are listed below.

• Investment in Subsidiary Companies
• General Corporate Purpose
• Meeting Public Issue Expenses.

3. Issue Details of Waa Solar IPO:

• Issue Open: May 31, 2018
• Issue close: Jun 4, 2018
• Issue Type: Fixed Price Issue IPO
• Issue Size: 1,750,000 Equity Shares of Rs 10 aggregating up to Rs 28.18 Cr
• Face Value: Rs 10 Per Equity Share
• Issue Price: Rs 161 Per Equity Share
• Market Lot: 800 Shares
• Minimum Order Quantity: 800 Shares
• Listing At: BSE SME
• Retail Allocation :50%

4. Utilization of Fund:

Sr.No.	Particulars	Amount	% of the total size(Rs in lakhs)
1.	Investment in Subsidiary Companies	2100.00	74.53
2.	General Corporate Purpose	670.00	23.78
3.	Public Issue Expenses	47.50	1.69
	Total	2817.50	100

5. Consolidated Financial Summary of the Company:

Waa Solar’s financial performance (in INR crore)
	FY2013	FY2014	FY2015	FY2016	FY2017	10M FY2018
Total revenue	27.7	29.0	54.3	46.9	26.1	16.2
Total expenses	19.5	23.6	42.6	40.6	21.8	14.2
Profit after tax	8.3	5.4	11.5	6.3	4.3	1.6

 

6. Waa Solar IPO Prospectus:

 Red Herring Prospectus

7. COMPETITIVE STRENGTHS:

• Proven and experienced management team
• Investment in Subsidiary and Associate Companies
• Cost efficient sourcing and completion of project in schedule time

   8. Registered Address of the Company:

 Madhav House, Nr. Panchratna Building,

 Subhanpura, Vadodara, Gujarat -390023.

9. Official Website of the company:

www.waasolar.org

10. Lead manager to the Issue:

GUINESS CORPORATE ADVISORS PRIVATE LIMITED

18 Deshapriya Park Road, Kolkata – 700 026, West Bengal, India

Tel: +91 – 33 – 3001 5555; Fax: +91 – 33 – 3001 5531

Email:gcapl@guinessgroup.net

Investor Grievance Email: gcapl.mbd@guinessgroup.net

Website:www.guinessonline.net

Contact Person: Mr. Devendra Shah

SEBI Registration No.: INM 000011930

11. Registrar to the Waa Solar IPO:

BIGSHARE SERVICES PRIVATE LIMITED

1st Floor, Bharat Tin works Building, Opp vasant Oasis, Makwana Road, Marol,

Andheri East,Mumbai-400059

Tel : +91 022-62638200

Fax : +91 022-62638299

Website: www.bigshareonline.com

E-Mail: ipo@bigshareonline.com

Contact Person : Mr. Nilesh Chalke

SEBI Reg. No.: INR000001385

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