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According to Oriana Power’s CEO Rupal Gupta, the company intends to launch an Initial Public Offering (IPO) by the end of this month or in the first week of August to raise up to Rs 60 crore. Gupta stated during a press conference that the funds would be used for working capital, asset development, and technological advancement. For the purpose of listing shares on NSE Emerge, the Draft Red Herring Prospectus (DRHP) has been submitted. The IPO is anticipated to go public by the end of this month or the first week of August, according to Gupta. The IPO is anticipated to go public by the end of this month or the first week of August, according to Gupta.
We hope to generate about Rs 55–60 crore through the IPO, he continued. According to the DRHP, the three promoters—Rupal Gupta, Anirudh Saraswat, and Praveen Kumar—hold 83.40 percent of the company at this time. After the issuance, the promoters’ ownership in the company will fall to 61.41 percent. According to the DRHP, the three promoters—Rupal Gupta, Anirudh Saraswat, and Praveen Kumar—hold 83.40 percent of the company at this time. After the issuance, the promoters’ ownership in the company will fall to 61.41 percent.
Noida-based For its industrial and commercial clients, Oriana Power is a top provider of solar energy solutions.