Solarium Green Energy’s SME IPO to Open for Subscription on February 6, 2025
Ahmedabad-based solar turnkey solutions provider Solarium Green Energy is set to launch its IPO on February 6, 2025, aiming to raise up to INR 105.04 crore through a fresh issue of 54.99 lakh equity shares. The company has fixed a price band of INR 181 – INR 191 per share. The shares will be listed on the BSE SME platform.
February 03, 2025. By Mrinmoy Dey
The IPO includes a fresh issue of 54,99,600 equity shares with a face value of INR 10 each. The company has fixed a price band of INR 181 – INR 191 per share, for this IPO. At the upper band, the issue size comes to be about INR 105.04 crore.
The company has fixed the lot size at 600 equity shares. While Qualified Institutional Buyer will be allotted at least 26,05,800 equity shares, allocations for HNI, Retail Individual Investors and Market Maker categories are at least 7,82,400 equity shares, 18,24,600 equity shares and up to 2,86,800 equity shares, respectively.
The anchor round will be held on February 5, 2025.
Beeline Capital Advisors has been appointed as the Book Running Lead Manager to the issue, while Link Intime India will serve as the Registrar to the issue.
Ankit Garg, Chairman and Managing Director of Solarium Green Energy Ltd. said, “Over the years, our expertise and strategic vision have been instrumental in establishing the company as an emerging EPC player across the residential, commercial and 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.”
He further added, “The funds raised through this IPO will enhance our working capital, ensuring seamless project execution and positioning Solarium to capitalise 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.”
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 specialises 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 2021 to September 2024, the company successfully completed 11,195 residential rooftop projects, 172 C&I projects and 17 government projects.
As on December 2024, Solarium is managing ongoing projects worth INR 185 crore, out of which around INR 45 crore revenue have been booked till September 2024. Also, new tenders totalling INR 885 crore is under bidding.
For the fiscal year ended March 31, 2024, the company reported revenue from operations of INR 177.80 crore, EBITDA of INR 23.78 crore and PAT of INR 15.59 crore. And in H1 of FY25, the company reported revenue of INR 81.99 crore with an EBITDA of INR 11.59 crore and PAT of INR 7.55 crore.
please contact: contact@energetica-india.net.
Sharat Sinha
Director & CEO
Airtel Business Leading Smart Energy Revolution with IoT-Driven Solutions
Karan Singh
CEO - Asset Management Division
New SMART and BIPV Modules Set to Transform Indian Solar Market
Mitull Batraa
Co-founder and CEO
Mega Factory to Market Leadership: Udaan’s Blueprint for Dominating the E3W Segment
Jitendra Tanwar
Managing Director & CEO
Namdev Finvest Drives Electric Mobility with Dual-Model EV Financing
Nitin Gupta
Co-founder & CEO
Attero's Li-ion Battery Recycling Sets Global Standards with 98 Percent Metal Recovery