Oriana Power Closes Pre-IPO Funding Round for Minority Stake of 10 to 11 Percent of Total IPO
The company’s proposed IPO will involve the issuance of 50.55 lakh equity shares at a face value of INR 10 each through the book-building route.
July 11, 2023. By Anurima Mondal
The Noida-based company has filed its Draft Red Herring Prospectus (DRHP) with the National Stock Exchange Emerge (NSE Emerge), the SME-dedicated stock exchange, for its proposed IPO that will involve the issuance of 50.55 lakh equity shares at a face value of INR 10 each through the book-building route. The lead manager for the issue will be Corporate Capital Ventures whereas Skyline Financial Services Private has been appointed as the registrar.
As per DRHP, the firm would utilise INR 23 crore for meeting its working capital requirement. Apart from this, it will use INR 20 crore and INR 2 crore for investments in its subsidiaries and for capital expenditure investments respectively.
Following the public listing, the collective stake of Oriana Power cofounders Anirudh Saraswat, Rupal Gupta, and Praveen Kumar Jangra would be reduced from 83.4 percent to 61.41 percent.
Earlier this year, Oriana Power commissioned Rajasthan's first floating solar project at Dabok Mines of Udaipur. The project has been commissioned for Udaipur Cement Works Ltd., a subsidiary of JK Lakshmi Cement Ltd.
please contact: contact@energetica-india.net.
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