Details Of The Solarium Green Energy Limited Initial Public Offering (IPO)
By Rajan Chaurasiya February, 09 2025 13:45 PMThe price band of Solarium Green IPO has been fixed at ₹181 to ₹191 per share. The minimum lot size for application is 600. The minimum investment amount required by retail investors is ₹1,14,600. The minimum lot size investment for HNIs is 2 lots (1,200 shares), amounting to ₹2,29,200.
Link Intime India Private Limited is the issue’s registrar, while Beeline Capital Advisors Private Limited is the book running lead manager for the Solarium Green IPO. The market maker for Solarium Green IPO is Spread X Securities Private Limited
The Solarium Green IPO bidding opened for subscription on February 6, 2025, and will close on February 10, 2025. Allotment for the Solarium Green IPO is expected to be finalized on Tuesday, February 11, 2025. The Solarium Green IPO will be listed on BSE SME, with a tentative listing date fixed as Thursday, February 13, 2025.
About Solarium Green Energy Limited
Incorporated in 2015, Solarium Green Energy Limited is engaged in the business of Solar Solutions.
The company provides turnkey solar solutions including design, engineering, procurement, construction, testing, commissioning, transmission systems and operation and maintenance for residential, commercial, industrial and government solar projects.
The company offers turnkey EPC (engineering, procurement and commissioning) contracts covering site evaluation, technology evaluation, engineering, supply chain management, construction, logistics, manpower, financial planning and warranty for solar projects.
Competitive Strengths:
- Scaled and integrated operations for renewable energy projects
- Diversified Portfolio with strong domestic presence
- Strong relationship with customers and suppliers
- Experienced management team with industry expertise
Business Mode
Turnkey Solutions for Solar Projects: The Company offers government tenders for various renewable energy systems, including residential rooftop solar power installations, sea end rooftop and ground-mounted projects, and hybrid solutions and grid-connected installations. Sales of Solar Products.
The Company supplies solar products, including PV modules, inverters and ABT meters, procures items from accredited vendors, and manufactures prefabricated polycrystalline solar modules for turnkey projects and direct customer supply.
The Company has completed 11,195 residential, 172 commercial and industrial and 17 government solar projects in the last three years. As of September 30, 2024, the Company employs 253 people.
Refer Solarium Green IPO RHP for detailed information.
Solarium Green IPO Details
| IPO Date | February 6, 2025 to February 10, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹181 to ₹191 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 54,99,600 shares (aggregating up to ₹105.04 Cr) |
| Fresh Issue | 54,99,600 shares (aggregating up to ₹ 105.04 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,53,50,000 shares |
| Share Holding Post Issue | 2,08,49,600 shares |
| Market Maker Portion | 2,86,800 shares |
Solarium Green IPO Timeline
| IPO Open Date | Thursday, February 6, 2025 |
| IPO Close Date | Monday, February 10, 2025 |
| Basis of Allotment | Tuesday, February 11, 2025 |
| Initiation of Refunds | Wednesday, February 12, 2025 |
| Credit of Shares to Demat | Wednesday, February 12, 2025 |
| Listing Date | Thursday, February 13, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 10, 2025 |
Solarium Green IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹1,14,600 |
| Retail (Max) | 1 | 600 | ₹1,14,600 |
| HNI (Min) | 2 | 1,200 | ₹2,29,200 |
Solarium Green IPO Promoter Holding
Ankit Garg, and Pankaj Vallabhbhai Gothi are the promoters of the company.
| Share Holding Pre Issue | 78.50% |
| Share Holding Post Iss |
Solarium Green IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 15,63,000 (28.42%) |
| Market Maker Shares Offered | 2,86,800 (5.21%) |
| QIB Shares Offered | 10,42,800 (18.96%) |
| NII (HNI) Shares Offered | 7,82,400 (14.23%) |
| Retail Shares Offered | 18,24,600 (33.18%) |
| Total Shares Offered | 54,99,600 (100% |
Solarium Green IPO Anchor Investors Details
| Bid Date | February 5, 2025 |
| Shares Offered | 15,63,000 |
| Anchor Portion Size (In Cr.) | 29.85 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 13, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 12, 2025 |
Solarium Green Energy Limited Financial Information
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 95.25 | 77.21 | 44.37 | 31.81 |
| Revenue | 82.34 | 177.81 | 98.93 | 167.89 |
| Profit After Tax | 7.55 | 15.59 | 1.74 | 2.05 |
| Net Worth | 33.13 | 20.33 | 4.74 | 3 |
| Reserves and Surplus | 17.78 | 17.33 | 1.74 | |
| Total Borrowing | 33.47 | 30.76 | 26.72 | 14.8 |
Solarium Green IPO Subscription Status
Solarium Green IPO 7 February 2025 5:04:49 PM (Day 2) subscribed 1.52 times. The public issue was subscribed 1.38 times in the retail category, 2.71 times in the QIB category and 0.27 times in the NII category. Check daily subscription details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 2.71 | 10,42,800 | 28,30,200 | 0 |
| NII* | 0.27 | 7,82,400 | 2,08,200 | 0 |
| Retail | 1.38 | 18,24,600 | 25,18,800 | 0 |
| Total | 1.52 | 36,49,800 | 55,57,200 | 5,622 |
Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.16 | 7.25 |
| P/E (x) | 18.81 | 26.36 |
conclusion
The company enjoys status of one of the leading solar solutions company involved in all related services for the segment.
• It posted steady growth in its top and bottom lines except for FY23, where is marked de=growth on account of change in policy and shift of their business plans.
• Now the company is on a fast track of growth with all related services under one roof.
• It has pending orders worth Rs. 140+ cr. and likely to get approval for over Rs. 1200 cr. of new contracts.
• Based on its recent financial data, the issue appears fully priced.
• Considering bright prospects ahead, investors may lap it up for medium to long term
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