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Oriana Power, a company that provides solar energy solutions, had its IPO last month. Shares of the company in IPO Rs. 118 and within a month the shares of Oriana Power were Rs. 350 has been crossed. The company’s shares have returned more than 200% during this period. The company has now received 2 large orders, these orders are worth around Rs 135 crore.
2 orders received for setting up solar projects
Oriana Power has said that it has received 2 new orders for setting up solar projects in Karnataka and Rajasthan. The value of this order is Rs 134.6 crore. Oriana Power has bagged the EPC contract from a steel company. Rs. 100.2 crore order, Oriana Power will set up a 29 MW captive open access solar power plant in Karnataka. Whereas, the second order is Rs. 34.4 crores, in which the company is to set up a 7 MW DC solar plant in Rajasthan. This order has been received from a cement company.
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Shares have risen more than 200% since the IPO price
Oriana Power IPO Rs. It came at a price band of 115-118. In the IPO, the shares of the company have been allotted at Rs 118. Shares of the company on August 11, 2023 at Rs. 302 were listed. On September 12, 2023, the shares of the company were Rs. closed at 364.90. The company’s shares hit a 52-week high of Rs 408.
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Disclaimer: Information about stock performance is provided here only, not investment advice. Investment in stock market is subject to risk and please consult your advisor before investing.