One of the multibagger solar energy stocks has delivered impressive returns in the last 2 years. The share has delivered more than 1,327% between these specific periods. The stock price reached Rs 1,684 with an 8.32% decline during the early trading session on Friday January 24. Let us tell you that the share came at an IPO price of Rs 118 2 years ago in August 2023. Currently it is trading at Rs 1,684 at the time of writing. Actually we are talking about Oriana Power Ltd. Check more details below.
What’s the Details
Oriana Power, a solar energy stock, is booming like a rocket. On Friday, Oriana Power share price declined 8.32% and touched Rs 1,684 level. Over the past 1.5 years, investors have received multibagger returns more than 1,327%. Oriana Power shares reached an all-time high of Rs 2,984. On other hand, the share price touched a 52-week low of Rs 616 and it’s all-time low is Rs 281.
IPO Came at a Price of Rs 118
Let us tell you that Oriana Power’s initial public offering (IPO) came in August 2023. The IPO opened for subscription on August 1, 2023 and closed on August 3. Oriana Power SME IPO price band was fixed at an upper range of Rs 118. The shares listed on NSE SME platform on August 11, 2023 at Rs 302. After a huge successful listing, the share price surged to Rs 317.10 on the same day. Currently the share is now trading around Rs 1,684. Compared to its issue price, the share has delivered more than 1,327% at present.
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Solar Energy Stock Getting Continuous Orders
Let us tell you that the Maharashtra State Power Distribution Company recently gave a contract to Oriana Power Limited in October for the building of a 75 MW alternative solar energy facility. Feeder level solarization is implemented under ‘Component C’ of Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan, as per the terms and conditions of the contract. A comparable contract of Rs 155 crore for a 40 megawatt solar facility in Rajasthan, which fell under the captive segment, had previously been given to Oriana Power on July 10. As per the agreement, Oriana Power will look after projects Engineering, purchasing, building, commissioning, running, and maintaining the solar power plant.
Oriana Power Plans to Invest Rs 10,000 Crore
In the next three to four years, Oriana Power, a renewable energy firm listed on the NSE, plans to invest Rs 10,000 crore in the solar, green hydrogen, and BESS verticals. Anirudh Saraswat, the co-founder of the company, told ETENERGYWORLD about this. According to him, the company aims to have a capacity of 400 MW of IPP capacity and 1 GW of EPC capacity overall by 2026.
About Oriana Power Limited (NSE: ORIANA)
Incorporated in 2013, Oriana Power is a leading solar energy Company that offers renewable energy solutions. Oriana Power provides solar energy solutions, such as low-carbon energy options, off-site solar farms, and on-site solar project installations. Additionally, they offer operations and EPC services for solar power installations. The company has worked with many large companies, PSU companies and the Indian government.
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