Noida-based solar energy solutions provider Oriana Power on Tuesday said it has set a price band of Rs 115-118 per share for its Initial Public Offering (IPO), which will hit the capital market on August 1.
The bidding for anchor investors will open on July 31 and the public issue will conclude on August 3, the company said in a statement. The company’s shares will be listed on SME Emerge platform of the National Stock Exchange. The IPO of Oriana Power will comprise 50.55 lakh equity shares with a face value of Rs 10 each. The firm will use the IPO proceeds to fund its working capital requirements, investment in subsidiary companies, capital expenditure and general corporate purposes.
Corporate Capital Ventures is the lead manager of the IPO while Skyline Financial Service is the registrar. The company recently closed its pre-IPO round, with investments from JSW Energy’s Prashant Jain, Meru Founder Neeraj Gupta and MSMEx’s Amit Kumar, among others.