Bright Solar Goes Public with Initial Public Offer (IPO). BRIGHT SOLAR TAPPING MARKETS THROUGH IPO TO RAISE Rs. 19.44 cr.

Incorporated in 2010, Gujarat based Bright Solar Limited is a company 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". The 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, it has a wide range of products like DC Solar Pump, Solar Pump Inverter, and AC Solar Pump. In the year 2017-18, the company started providing consultancy services for acquiring projects and tender bidding after identifying the competent client on the tender to tender basis.

In addition, the company has been awarded water supply, sewerage, and infra project in its service portfolio. Bright Solar is in the process of acquiring a land admeasuring area of 18,209 sq mts at Kheda, Gujarat and on which the company is planning to set up a manufacturing unit for Solar PV modules/panels. The Company has already executed an agreement to sell for the acquisition of land. It is also planning to set up a water treatment plant assembling unit at Patna (Bihar).

The company has on hand orders in the book amounting to Rs 97 crores. The pre IPO placement of the shares was made at the same rate as of the IPO which is Rs 36/share, approx. aggregation of the amount gained was Rs 3 crores.

To sum up, Bright Solar is 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. The company is planning to commence Solar Module manufacturing and water treatment plant assembling Unit. The Promoter of the Company is Mr. Piyushkumar Thumar. 

To part finance its plans for acquisition of land including stamping and registration for proposed solar PV Modules/panels manufacturing project, working capital, and general corpus fund needs, BSL is coming out with a maiden IPO of 5400000 equity shares of Rs. 10 each with a fixed price of Rs. 36 per share to mobilize Rs. 19.44 cr. Issue opens for subscription on 26.06.18 and will close on 29.06.18. Minimum application is to be made for

In addition, the company has been awarded water supply, sewerage, and infra project in its service portfolio. Bright Solar is in the process of acquiring a land admeasuring area of 18,209 sq mts at Kheda, Gujarat and on which the company is planning to set up a manufacturing unit for Solar PV modules/panels. The Company has already executed an agreement to sell for the acquisition of land. It is also planning to set up a water treatment plant assembling unit at Patna (Bihar).

The company has on hand orders in the book amounting to Rs 97 crores. The pre IPO placement of the shares was made at the same rate as of the IPO which is Rs 36/share, approx. aggregation of the amount gained was Rs 3 crores.

To sum up, Bright Solar is 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. The company is planning to commence Solar Module manufacturing and water treatment plant assembling Unit. The Promoter of the Company is Mr. Piyushkumar Thumar. 

To part finance its plans for acquisition of land including stamping and registration for proposed solar PV Modules/panels manufacturing project, working capital, and general corpus fund needs, BSL is coming out with a maiden IPO of 5400000 equity shares of Rs. 10 each with a fixed price of Rs. 36 per share to mobilize Rs. 19.44 cr. Issue opens for subscription on 26.06.18 and will close on 29.06.18. Minimum application is to be made for