Indosolar IPO Subscription Details

Qualified Institutional Buyers (QIBs) 1.44
Non Institutional Investors 1.30
Retail Individual Investors (RIIs) 1.81

Indosolar IPO fully subscribed

Gets bids for 18.20 crore shares

The initial public offer (IPO) of solar photo-voltaic cells manufacturer Indosolar was fully subscribed on final day of the issue today, 15 September 2010. The IPO was subscribed 1.48 times and received bids for 18.20 crore shares, compared with 12.31 crore shares on offer.

Indosolar IPO Review

Indosolar IPO Review

Indosolar IPO subscribed 20%

Gets bids for 2.41 crore shares

The initial public offer (IPO) of solar photo-voltaic cells manufacturer Indosolar was subscribed 20% by 16:00 IST on the second day of the issue today, 14 September 2010. The IPO received bids for 2.41 crore shares, compared with 12.31 crore shares on offer.

IndoSolar

Indo Solar

Indosolar

Indosolar, promoted by Bhushan Kumar Gupta and Hulas Rahul Gupta, manufactures poly-crystalline solar photovoltaic (‘SPV') cells from silicon wafers. SPV cells are used in SPV modules for converting sunlight directly into electricity through a process known as the photovoltaic effect. The company sells SPV cells primarily to module manufacturers who in turn supply to the system integrator who install the systems for grid or off grid applications in domestic or overseas markets.