K.P.I. Global Infrastructure Limited IPO
(i) KPI Global Infrastructure Limited IPO is a solar power generating Company focused on providing solar power, both as an Independent Power Producer (“IPP”) under the brand name of ‘Solarism’ and as Captive Power Producer (“CPP”).
(ii) They build, own, operate and maintain grid-connected solar power projects as IPP and generate revenue by entering into Power Purchase Agreements (“PPA”) with third parties for selling power units generated through their solar projects. They develop, transfer, operate and maintain grid-connected solar power projects for CPP customers and generate revenue by selling these projects to third parties for their captive use requirements. Both these businesses, IPP and CPP, are currently carried out at their plant located at Sudi & Tanchha village, Amod, Bharuch, Gujarat (Solarism Plant).
(iii) The company in 2014 has initiated a ~13.25 km long 66 KV transmission line from their Solarism Plant to the Gujarat Energy Transmission Corporation Limited (“GETCO”) substation located at Amod, Bharuch, Gujarat (Amod Substation), for evacuation of the solar power generated at the Solarism Plant.
(iv) In 2016, they commissioned the first solar power plant for 5 MW on the leased land at Solarism Plant and
(v) In 2017, they commissioned another solar power plant for 10 MW on their owned land at Solarism Plant (Both projects referred to as Unit I).
(vi) In 2018, they completed CPP sales of 0.45 MW of solar power plant to Laser Fibers Private Limited.
(vii) The company proposes to increase their solar power generation capacity by setting up another solar power project for 25 MW at Sudi, Samiyala & Tanchha village, Amod, Bharuch, Gujarat (Referred to as Unit II). The estimated cost of this project would be 132 Cr and the proposed date of commercial commencement is July 2019. Post the commercial commencement, our total solar power generation capacity would increase to 40 MW.
(viii) They have entered into bilateral PPA’s for a period of 3 years with reputed industrial consumers such as Mafatlal Industries Limited (for their two units located at Navsari and one unit located at Nadiad), Best Paper Mills Private Limited (for their two units located at Vapi) and Meghmani Organics Limited (for their three units located at Dahej, Ankleshwar and Panoli) for direct sale of the solar power generated at our Solarism Plant. The rate of the PPAs are currently at around ~Rs. 6.58 per unit, which have been priced to arrive at an average of around 7% discount to the prevailing per unit price of the power rates of the DISCOMs, less other adjustments.
(ix) Management Interaction
Objects of the K.P.I. Global Infrastructure Limited IPO:
K.P.I. Global Infrastructure Limited IPO Details:
|Open Date:||Jan 08 2019|
|Close Date:||Jan 11 2019|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Fixed Price Issue IPO|
|Issue Size:||Rs 39.94 Cr.|
|Lot Size:||1600 Shares|
|Issue Price:||₹ 80 Per Equity Share|
|Listing At:||BSE SME|
|Listing Date:||Jan 22 2019|
Promoters And Management:
Financials of K.P.I. Global Infrastructure Limited IPO:
Comparison With Peers:
Recommendation on K.P.I. Global Infrastructure Limited IPO:
Lead Manager of K.P.I. Global Infrastructure Limited IPO:
Registrar of K.P.I. Global Infrastructure Limited IPO:
Bid Details of K.P.I. Global Infrastructure Limited IPO as on
11 Jan 2019 | 11:58:03 PM
|Category||No.of shares offered||No. of shares bid|