Indosolar's outlook looks positive in long run: Nirmal Bang
Nirmal Bang is of the view that with Indosolar's strong order book and government's support the outlook looks positive in the long run.
By ET Bureau |
MUMBAI: Nirmal Bang is of the view that with Indosolar's strong order book and government's support the outlook looks positive in the long run.
"Indosolar is one of the earlier entrant in Solar PV segment in India with state of the art manufacturing facilities. Given the strong order book, support from the governments in form of grants and good prospects of non-conventional energy in future, the outlook looks positive in long run," the report said.
The company entered the capital markets Monday to raise Rs 375 crore by issuing shares in the price band of Rs 29-32. The issue closes Wednesday.
The IPO proceeds will be used to finance the expansion of its manufacturing facilities from 160 mw to 260 mw.
Indosolar manufactures poly-crystalline solar photo-voltaic ( SPV) cells from silicon wafers. It markets and sells products primarily to module manufacturers on a business-to-business platform.
"Indosolar is one of the earlier entrant in Solar PV segment in India with state of the art manufacturing facilities. Given the strong order book, support from the governments in form of grants and good prospects of non-conventional energy in future, the outlook looks positive in long run," the report said.
The company entered the capital markets Monday to raise Rs 375 crore by issuing shares in the price band of Rs 29-32. The issue closes Wednesday.
The IPO proceeds will be used to finance the expansion of its manufacturing facilities from 160 mw to 260 mw.
Indosolar manufactures poly-crystalline solar photo-voltaic ( SPV) cells from silicon wafers. It markets and sells products primarily to module manufacturers on a business-to-business platform.
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