Orient Green Power Rights issue Apply Online, Details, Entitlement

Official Website : Orient Green Power Rights issue Apply Online, Details, Entitlement

Orient Green Power Rights issue Apply 

Established in 2006, Orient Green Power Company Limited focuses on developing, owning, and managing renewable energy power plants. The company has developed more than 400 MW of wind power capacity through its subsidiaries, along with 106 MW of biomass capacity—40 MW directly and 66 MW through subsidiaries. As of March 31, 2024, Orient Green Power has an installed capacity of 402.3 MW, serving 45 customers that include commercial and industrial clients as well as two government utilities.

Orient Green Power Company Limited is initiating a rights issue worth ₹250 crore. This subscription period will run from August 27, 2024, to September 13, 2024. Shareholders can acquire 10 Rights equity shares for every 51 fully paid equity shares they own as of the record date, August 13, 2024. Each share has a face value of ₹10, with the rights issue priced at ₹13 per share.

The company had 129 employees, including managing directors, as of March 31, 2024. Stay tuned for more information about the Orient Green Power Company Limited rights issue for 2024, covering details such as issue size, entitlements, and payment terms.

Orient Green Power Rights Issue 2024 Details :

Company	Orient Green Power Company Ltd
Listing	BSE, NSE
Issue Open Dates	August 27, 2024 – September 13, 2024
Record Date	August 13, 2024
Total Issue Size	192,307,692 shares
Total Amount	Total Amount
Issue Price	₹13 per share
Face Value	₹10 per share
Terms of Payment	Full payment due at application
Entitlement	10 Rights Equity Shares for every 51 fully paid-up Equity Shares held on the Record Date

 

About Orient Green Power Company Limited :

Incorporation : Founded in December 2006.

Focus : An independent Indian renewable energy producer dedicated to the development, ownership, and operation of various renewable energy power plants.

Current Portfolio :

• Mainly comprises wind energy projects.
• Recognised as one of the largest independent renewable power producers in India.
• As of June 2022, holds a total wind power capacity of 402.3 MW across Tamil Nadu, Andhra Pradesh, Gujarat, and Karnataka.
• Also operates a 10.5 MW wind farm in Croatia, Europe.

Business Expansion :

• Expanded through the acquisition of renewable energy assets from third parties and the development of new projects.
• Serves a diverse range of customers, including state-owned utilities and private commercial and industrial clients.
• Power Purchase Agreements (PPAs) are tailored according to customer type, tariffs, location, and contract duration.

Orient Green Power Financials for the Past 3 Years

Financial Performance : Financial results and performance from recent years are summarised.

Orient Green Power Rights Issue 2024 Timetable :

Last Date to Buy Shares	August 12, 2024
Record Date	August 13, 2024
Bid /Offer Opens	August 27, 2024
Credit of Rights Entitlements	September 9, 2024
Renunciation of Rights Entitlements	Not specified
Bid /Offer Closes	September 13, 2024
Deemed Date of Allotment	September 19, 2024
Credit Date	September 24, 2024
Listing Date	September 27, 2024

 

Objects of the Issue :

The company intends to utilise the Net Proceeds for the following purposes :

• Investment in Subsidiary : Inject funds into Delta Renewable Energy Private Limited, a newly formed wholly owned subsidiary, to advance a 19.8 MW Solar Power Project in Tamil Nadu (Phase-1 Power Project).
• Repayment of Loans : Settle or pay off unsecured loans acquired from Gamma Green Power Private Limited, a subsidiary of the company.
  Address or repay unsecured loans obtained from Clarion Wind Farm Private Limited, a step-down subsidiary of the company.
• Fresh Loans : Offer new loans to GGPPL and CWFPL to allow them to repay or pay off unsecured loans from SVL Limited. one of the Corporate Promoters of the company.
• Security Deposits : Make partial payments for security deposits related to lease commitments of Beta Wind Farm Private Limited, a subsidiary of the company.
• General Corporate Purposes : Designate funds for general corporate needs.

Orient Green Power Company Ltd. Financial Information (Restated Consolidated) :

	March 31, 2021	March 31, 2023	March 31, 2024
Assets	₹1,617.62 crores	₹1,692.11 crores	₹1,893.25 crores
Revenue	₹280.68 crores (decreased by 3.28% from March 31, 2023)	₹290.21 crores	₹315.22 crores
Profit After Tax	₹38.40 crores (increased by 15.21% from March 31, 2023)	₹33.33 crores	₹35.78 crores

 

Orient Green Power Rights Issue Calculation :

• Rights Issue Price : ₹13 per share
• Market Price at Rights Issue Approval : ₹21.55 per share
• Dilution Factor : 1.20
• Fair Value After Dilution at Prevailing Price : ₹20.15 per share

Orient Green Power Financial Performance :

Revenue	FY 2022	₹310.63 crores
	FY 2023	₹258.31 crores
	FY 2024	₹270.98 crores
Expenses	FY 2022	₹296.99 crores
	FY 2023	₹278.45 crores
	FY 2024	₹246.85 crores
Operating Margin (%)	FY 2022	72.0%
	FY 2023	66.0%
	FY 2024	66.0%
Net Income	FY 2022	₹35.78 crores
	FY 2023	₹33.43 crores
	FY 2024	₹38.40 crores
Return on Capital Employed (ROCE) (%)	FY 2022	8.0%
	FY 2023	7.0%
	FY 2024	7.0%

 

OFFICIAL WEBSITE << orientgreenpower.com >> orient green power rights

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