PMEA Solar Tech Solutions Ltd. IPO Details
PMEA Solar Tech Solution Ltd. was incorporated on April 21, 2006, The company is a leading manufacturer of solar tracking and mounting products with a 16-gigawatt annual capacity. Their core products are module mounting assemblies and rolled products which are essential for installing solar PV modules in large-scale and ground-mounted projects
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 11.2 M | - | - | ₹6,000.0 M | DRHP DOC |
PMEA Solar Tech Solutions Ltd. issue details
PMEA Solar Tech Solutions Ltd. has 11.2 M shares on offer
PMEA Solar Tech Solutions Ltd. IPO issue size is ₹ 6,000.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
PMEA Solar Tech Solutions Ltd. IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
PMEA Solar Tech Solutions Ltd. NUMBER OF SHARES ON OFFER
PMEA Solar Tech Solutions Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 1,036.4 | 15,002.0 | -94.6 | -621.2 | 14.0% |
| FY23 | 274.4 | 8,007.9 | -346.1 | -749.0 | 11.1% |
| FY22 | 448.2 | 5,585.4 | -228.1 | -657.6 | 10.6% |
PMEA Solar Tech Solutions Ltd. INFORMATION ON IPO ISSUE
About PMEA Solar Tech Solutions Ltd.
PMEA Solar Tech Solution Ltd. was incorporated on April 21, 2006, The company is a leading manufacturer of solar tracking and mounting products with a 16-gigawatt annual capacity. Their core products are module mounting assemblies and rolled products which are essential for installing solar PV modules in large-scale and ground-mounted projects
Object of the Issue
- Funding capital expenditures for setting up manufacturing facilities through investment in the wholly-owned subsidiary, PMSS
- Financing capital expenditures for machinery and equipment purchases
- Repaying or prepaying outstanding borrowings of the company and its subsidiaries, PMSS and Tapovan
- Allocating funds for general corporate purposes
PMEA Solar Tech Solutions Ltd. - PROMOTERS
| Name |
|---|
| Samir Pravin Sanghavi |
| Kapil Pravin Sanghavi |
| Vishal Navinchandra Sanghvi |
| Sandeep Navinchandra Sanghvi |
PMEA Solar Tech Solutions Ltd. Book Running Lead Managers
IIFL Securities Limited
pmea.ipo@iiflcap.com
ICICI Securities Limited
pmea.ipo@icicisecurities.com
PMEA Solar Tech Solutions Ltd. Registrar to the Offer
Link Intime India Private Limited
pmea.ipo@linkintime.co.in
PMEA Solar Tech Solutions Ltd. Strengths
Leading solar tracking manufacturer
The company offers a wide range of products in its solar business and manages the entire supply chain, from tool design to manufacturing solar tracking and mounting products. This approach leads to cost savings, shorter lead times, and greater flexibility in meeting customer demands
Experienced management team
The company has a strong management team with extensive industry experience, with each business vertical managed by a dedicated team. It prioritizes an employee-first approach, focusing on creating a supportive and inclusive environment that helps employees reach their full potential
Financial performance
The company's focus on efficiency, productivity, and cost rationalization has driven consistent financial performance. Its total income grew by a CAGR of 60.4% in FY 2024
PMEA Solar Tech Solutions Ltd. Risks
Concentrated business
The majority of the company's revenue comes from the solar business, contributing 79.3% in FY24. A slowdown in demand for solar products could negatively impact its business, operations, and financial condition
Dependent on key customers
The company's business relies on key customers, especially Nextracker LLC. The loss of any of these customers or failure to maintain existing relationships could adversely affect its business, operations, financial condition, and cash flows
Dependent on international markets
The company generates a significant portion of its revenue from international markets, particularly the U.S. Regulatory changes or decreased demand in these markets could negatively impact its business and financial condition
IPO FAQs
The promoters of the company are Samir Pravin Sanghavi, Kapil Pravin Sanghavi, Vishal Navinchandra Sanghvi and Sandeep Navinchandra Sanghvi.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.