Oriana Power IPO: Find GMP, price band, subscription, key investors and other details here

The initial public offering (IPO) of Oriana Power has been subscribed 4 times till 12.56 pm (IST) on the first day. The issue will close on August 3. The company has fixed a price band of Rs 115-118 for the ongoing SME IPO.

As per the RHP, the company will deploy the IPO proceeds towards meeting its working capital requirements (Rs 23 crore), investment in subsidiary companies (Rs 20 crore), capital expenditure for expansion purposes (Rs 2 crore) and general corporate purposes. Shares of the company will list on NSE Emerge, a platform for small and medium enterprises.

Shares of the company traded at a premium of Rs 100, or 85 per cent, in the grey market in the afternoon trade at around 1 pm, according to IPOWatch.com.

Earlier, the company’s anchor portion comprising 1.4 million shares was fully subscribed at the higher price band of Rs 118 per equity share. The total amount raised from the anchor investor portion stood at over Rs 16.99 crore.

Morgan Stanley Asia (Singapore) was allocated 2,12,400 shares, followed by India Ahead Venture Fund – Abakkus Investment Manager (2,08,800 shares), Aryabhata Global Assets Funds ICAV-Aryabhata India (85,200 shares), Rajasthan Global Securities (3,44,400 shares), Meru Investments Fund PCC Cell-1 (1,70,400 shares) and LRSD Securities (418,800 shares) of the anchor portion.

Of the total issue size of 5 million shares, the company has allocated 2.4 million for qualified institutional buyers (including Rs 14.40 lakh for anchor investors) and 720,000 for non-institutional investors. For retail investors, the company has set aside 1.6 million shares.

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Corporate CapitalVentures is the lead manager for the issue, while Skyline Financial Service Private Ltd is the registrar to the issue. The company recently closed its pre-IPO round, with several reputed investors, including Chennai-based Anil Kumar Goel, JSW Energy’s Prashant Jain, Meru’s founder Neeraj Gupta, Jaipur-based Manoj Agarwal and MSMEx’s Amit Kumar.

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