About the Oriana Power Limited IPO
Incorporated in 2013, Oriana Power offers solar energy solutions to industrial and commercial customers. Company’s business is primarily divided into two key segments, Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). Under the CAPEX model, clients own the solar system, fund it, and consume the energy generated throughout the project life. Oriana Power commissions the project on behalf of the client.
Under the RESCO model, the company implements complete solar projects, including maintenance. It sells power to the end consumer through a power purchase agreement generally agreed for 25 years. Over the years, the company has served multiple clients, including Hindustan Petroleum Corporation Limited, Hero Motocorp, Indraprastha Power Generation, Hindustan Copper, Delhi Development Authority and many others
Oriana Power Limited is coming out with its initial public offer (IPO). The IPO will be a fresh issue. The money raised through the fresh issue will be utilised towards capital expenditure, to invest in subsidiary companies, and to meeting working capital requirements.
Here are key details about the Oriana Power Limited IPO: