Orient Green Power Company IPO
Orient Green Power Company IPO — date, price band, lot size & details 2010
Orient Green Power Company listed on 8 Oct 2010 at ₹45.7, 2.8% below the ₹47 issue price.
Orient Green Power develops, owns and runs renewable energy plants based on wind, biomass, biogas and small hydro, and was the largest independent renewable power operator in India by installed capacity. It is an associate of Shriram EPC.
Stock price
Orient Green Power Company is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 21 Sep 2010
- Close 24 Sep 2010
- Allotment 05 Oct 2010
- Refund/credit TBA
- Listing 08 Oct 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 21 to 24 Sep, 2010 |
|---|---|
| Price Band | ₹47 – ₹55 |
| Face Value | ₹10 |
| Lot Size | 125 Shares |
| Issue Size | ₹900 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 5,875 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 125 shares at the ₹47 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 125 | ₹5,875 |
| Retail (max) | 34 | 4,250 | ₹1,99,750 |
| S-HNI (min) | 35 | 4,375 | ₹2,05,625 |
| S-HNI (max) | 170 | 21,250 | ₹9,98,750 |
| B-HNI (min) | 171 | 21,375 | ₹10,04,625 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It had 213.03 MW of operating capacity as of 31 July 2010.
- 02It was the largest independent renewable energy operator in India by installed capacity, per CRISIL in March 2010.
- 03Its mix of wind, biomass, biogas and small hydro spreads risk across 4 technologies.
- 04The whole Rs 900 crore issue was fresh money for new projects.
Risks · 5
- 01On a standalone basis it made losses, including Rs 6.44 crore in FY2010.
- 02Rs 530.20 crore of the issue was to fund subsidiaries, including a 300 MW wind project, which carries execution risk.
- 03Wind output depends on weather, and biomass plants depend on fuel supply; 172.53 MW of its capacity was wind.
- 04The issue was priced at Rs 47, the bottom of its price band.
- 05Promoter holding fell from 94.88% before the issue to 56.07% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Orient Green Power Company offer document.
| Metric | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|
| Assets | 376.07 | 197.70 | 107.52 |
| Total Income | 5.64 | 0.13 | 0.04 |
| Profit After Tax | -6.44 | -3.28 | -1.17 |
| NET Worth | 265.73 | 197.17 | 74.68 |
| Reserves and Surplus | 0.03 | 161.17 | 60.55 |
| Total Borrowing | 25.22 | 0.00 | 0.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Orient Green Power Company RHP.
Where the money goes
₹900.00 Cr of the issue is earmarked to named objects.
About the company
According to the CRISIL Report of March 2010 quoted in its RHP, it was the largest independent operator and developer of renewable energy power plants in India by aggregate installed capacity.
As of 31 July 2010 its operating portfolio was 213.03 MW, of which 172.53 MW was wind energy, along with biomass, biogas and small hydro projects at various stages.
The IPO was Rs 900 crore and was entirely fresh issue at Rs 47, the bottom of the Rs 47 to Rs 55 band. The money was mainly to fund biomass projects and its subsidiaries, including a 300 MW wind project in Tamil Nadu.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Orient Green Power Company IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Goldman Sachs (India) Securities Private Limited
19 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Paytm (-9.3%).
Ubs Securities India Private Limited
22 issues handledBest listing: BGR Energy Systems (+75.0%). Weakest: Bharti Infratel (-9.1%).
Axis Bank Ltd
9 issues handledBest listing: KNR Constructions (+23.5%). Weakest: Innoventive Industries (-4.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Orient Green Power Company?
The current Grey Market Premium is ₹0.
What is the Orient Green Power Company IPO price band?
₹47 to ₹55, on a face value of ₹10.
When is the allotment?
The basis of allotment is 5 October 2010, with listing on 8 October 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
