Fresh Issue Size – 54,99,600 Equity Shares of 10 each
Issue Size – 105.04 Crore (At Upper Band)
Price Band 181-191 Per Share
Lot Size – 600 Equity Shares
MUMBAI, 4 FEBRUARY, 2025 (TGN): Solarium Green Energy Limited specializes in Turnkey solutions including design, engineering, procurement, testing, installation, commissioning, transmission systems, and comprehensive O&M services. It proposes to open its Initial Public Offering on February 06, 2025 aiming to raise 105.04 Crores, with shares to be listed on the BSE SME platform.
The issue size is 54,99,600 equity shares of face value of 10 each with an issue price band of 181-191 Per Share.
Equity Share Allocation
Qualified Institutional Buyer – At least 26,05,800 Equity Shares
HNI At least 7,82,400 Equity Shares
Retail Individual Investors – At least 18,24,600 Equity Shares
Market Maker Up to 2,86,800 Equity Shares
The net proceeds from the IPO is to meet working capital requirements, and to address general corporate purposes. The anchor bidding will open on February 05, 2025, the issue opening date will be February 06, 2025 and the issue will close on February 10, 2025.
Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the Issue, while Link Intime India Private Limited will serve as the Registrar to the Issue.
Mr. Ankit Garg, Chairman & Managing Director of Solarium Green Energy Limited expressed, “Over the years, our expertise and strategic vision have been instrumental in establishing the company as an emerging EPC player across the residential, commercial & industrial (C&I), and government sectors. With India’s growing renewable energy demand and the nation’s ambitious target of achieving 500 GW by 2030, we are committed to playing a significant role in expanding the country’s green energy capacity. Our dedication to sustainability drives us to deliver innovative and impactful energy solutions.
The funds raised through this IPO will enhance our working capital, ensuring seamless project execution and positioning Solarium to capitalize on emerging opportunities in the renewable sector. This IPO is not just about scaling our business-it is a step toward accelerating India’s transition to clean energy and building a more sustainable future.”
About Solarium Green Energy Limited:
The Company was founded by Ankit Garg, an alumnus of the Indian School of Mines, Dhanbad, who established Solarium Green Energy Limited, a prominent provider of turnkey solar solutions. The company delivers a wide array of services, including design, engineering, procurement, testing, installation, commissioning, and comprehensive operation and maintenance (O&M). Catering to a diverse clientele across residential, commercial, industrial, and government sectors, Solarium Green Energy specializes in an extensive range of projects, including residential and commercial rooftop systems, ground-mounted installations, solar trees, carports, solar-wind hybrid projects, and energy storage solar solutions.
Solarium Green Energy Limited remains a leader in the sector. Between April’21 to September 24, the company successfully completed 11,195 residential rooftop projects, 172 C&I projects, and 17 government projects. As on December 24 Solarium is managing ongoing projects worth ₹185 Crores, out of which around ₹45 Crore revenue have been booked till September 24, also new tenders under bidding totaling 2885 Crores.
For the period ended 31st March 2024, The Company reported Revenue from Operations stands at 177.80 Crores, EBITDA stands at 23.78 Crores & PAT 215.59 Crores. And in H1 of FY25 the company reported Revenue of 281.99 Crore with an EBITDA of 211.59 Crores and PAT 27.55 Crores.
