Solarium Green Energy Files DRHP for IPO on BSE SME

Solarium Green Energy Ltd. has filed its Draft Red Herring Prospectus with BSE SME for an IPO offering up to 55,00,000 equity shares. Funds will support working capital and general corporate needs, highlighting strong financial performance.

September 13, 2024. By EI News Network

Gujarat based firm Solarium Green Energy Ltd., a provider of turnkey solar solutions has officially submitted its Draft Red Herring Prospectus (DRHP) to the BSE SME in anticipation of its initial public offering (IPO).

As per the firm, the proposed issue aims to offer up to 55,00,000 equity shares. The funds raised from this IPO are expected to support the company's working capital requirements and cover general corporate expenses. Solarium Green Energy reported impressive financial metrics for the year ending March 31, 2024, including a revenue of INR 17,780.83 lakhs, an EBITDA of INR 2,377.51 lakhs, and a PAT of INR 1,558.97 lakhs, reflecting its strong financial performance and growth trajectory.

The firm said in its note that the it has carved out a significant niche in the renewable energy industry. "It specialises in providing turnkey solar solutions that encompass the entire project lifecycle—from design and engineering to procurement, testing, installation, commissioning, and operation and maintenance (O&M)," said the note.

As per the firm, it offers a range of solar products including photovoltaic (PV) modules, inverters, and Availability Based Tariff (ABT) meters. The company's adherence to BIS and ISO certifications underscores its commitment to maintaining high industry standards.

Further, Solarium Green Energy claims to have successfully executed 8,506 residential rooftop projects, 152 C&I projects, and 8 government contracts. Currently, it has 41 ongoing projects valued at INR 16,529.45 lakhs and is pursuing new tenders worth INR 25,286.06 lakhs. The upcoming IPO is anticipated to bolster the company's growth and expansion in the dynamic solar energy market.

Tags:

Business

Solarium green energy ltd.

Solarium green energy IPO

BSE SME

Draft Red Herring Prospectus

DRHP

Availability Based Tariff

Soalrium financial performance