Bright Solar Limited files Prospectus with the NSE Emerge.

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Bright Solar Limited files Prospectus with the NSE Emerge

Ahmedabad, June 14, 2018: Bright Solar Limited (“Company” or “Bright Solar”) a company specialized in developing, manufacturing and selling high-quality solar energy harnessing machines, specifically Solar Water Pumps, has filed its Red Herring Prospectus (“Prospectus”) with the Emerge Platform of National Stock Exchange of India Limited (“NSE Emerge”) to enter the capital market with its Initial Public Offering (“IPO”) of equity shares. The Company is promoted by Mr Piyushkumar Babubhai Thumar.

The Company proposes Public Issue Of 54,00,000 Equity Shares of Face Value Of  Rs. 10 each for cash at a price of Rs. 36 per Equity Share including a Share Premium of Rs. 26 per Equity Share (The “Issue Price”) aggregating to Rs. 1944.00 Lakh (“The Issue”), of which 2,70,000 Equity Shares of Face Value of Rs. 10 each for cash at a price of Rs. 36 per Equity Share including a Share Premium of Rs. 26 per Equity Share aggregating to Rs 97.20 Lakh will be reserved for subscription by Market Maker to the issue (The “Market Maker Reservation Portion”). The Issue minus the Market Maker Reservation Portion i.e. Net Issue of 51,30,000 Equity Shares of Face Value of Rs. 10 each at a price of Rs 36 per Equity Share including a Share Premium of Rs. 26 per Equity Share aggregating to Rs. 1846.80 Lakh is hereinafter referred to as the “Net Issue”. The Issue and the Net Issue will constitute 26.47% and 25.15% respectively of the post-Issue Paid-Up Equity Share Capital of the Company.

The adviser to the Issue is ProEx Advisors LLP, Ahmedabad.

Bright Solar Limited is at the crest of the innovation wave in solar-powered water pumping mechanisms. Since its inception in the year 2010, Bright Solar (CIN: L51109GJ2010PLC060377) has been a front-runner in developing, manufacturing and selling products that run on the clean and cost-friendly solar energy. The company possesses an internal framework for all the sections of product manufacturing – from mechanical and electronic, to software design – and it specializes in the production of Solar Water Pumps. Bright Solar also provides consulting services under Renewable Energy & Infrastructure Projects Consulting, such as Tender Bidding & Liasoning services for direct projects acquisition from various state government & PSUs, Intermediary services for acquisition & rewards of Sub-Contract/Back-to-Back works, and Facilitation services for requirement of JV Partners/Consortium for projects in the sectors of Solar & Other Renewable Energy, Water Supply & Sewerage, and All types of Infrastructure EPC / PPP / BOT Projects.

The Company proposes Public Issue Of 54,00,000 Equity Shares of Face Value Of  Rs. 10 each for cash at a price of Rs. 36 per Equity Share including a Share Premium of Rs. 26 per Equity Share (The “Issue Price”) aggregating to Rs. 1944.00 Lakh (“The Issue”), of which 2,70,000 Equity Shares of Face Value of Rs. 10 each for cash at a price of Rs. 36 per Equity Share including a Share Premium of Rs. 26 per Equity Share aggregating to Rs 97.20 Lakh will be reserved for subscription by Market Maker to the issue (The “Market Maker Reservation Portion”). The Issue minus the Market Maker Reservation Portion i.e. Net Issue of 51,30,000 Equity Shares of Face Value of Rs. 10 each at a price of Rs 36 per Equity Share including a Share Premium of Rs. 26 per Equity Share aggregating to Rs. 1846.80 Lakh is hereinafter referred to as the “Net Issue”. The Issue and the Net Issue will constitute 26.47% and 25.15% respectively of the post-Issue Paid-Up Equity Share Capital of the Company.

The adviser to the Issue is ProEx Advisors LLP, Ahmedabad.

Bright Solar Limited is at the crest of the innovation wave in solar-powered water pumping mechanisms. Since its inception in the year 2010, Bright Solar (CIN: L51109GJ2010PLC060377) has been a front-runner in developing, manufacturing and selling products that run on the clean and cost-friendly solar energy. The company possesses an internal framework for all the sections of product manufacturing – from mechanical and electronic, to software design – and it specializes in the production of Solar Water Pumps. Bright Solar also provides consulting services under Renewable Energy & Infrastructure Projects Consulting, such as Tender Bidding & Liasoning services for direct projects acquisition from various state government & PSUs, Intermediary services for acquisition & rewards of Sub-Contract/Back-to-Back works, and Facilitation services for requirement of JV Partners/Consortium for projects in the sectors of Solar & Other Renewable Energy, Water Supply & Sewerage, and All types of Infrastructure EPC / PPP / BOT Projects.