IPO Corner: Solarium Green Energy Limited

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.

• Issue Size – 54,99,600 Equity Shares
• Face Value: ₹ 10 each
• Issue Size – ₹105.04 Crore
• Price Band – ₹181 – ₹191 Per Share
• Lot Size – 600 Equity Shares

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. 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.

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. 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.

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 ₹885 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 ₹15.59 Crores. And in H1 of FY25 the company reported Revenue of ₹81.99 Crore with an EBITDA of ₹11.59 Crores and PAT ₹7.55 Crores.