- Issue price
- ₹191per share
- Issue size
- ₹105.04 Cr54,99,600 shares
- Face value
- ₹10per equity share
- Lot size
- 600 sharesMin. ₹1.15 L at the upper price
- Anchor biddingWed, 2025
- OpensThu, 2025
- ClosesMon, 2025
- AllotmentTue, 2025
- ListingThu, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 54,99,600 shares (₹105.04 Cr)
- Offer for sale
- None
- Total issue
- 54,99,600 shares (₹105.04 Cr)
- Market maker portion
- 2,86,800 shares
- Face value
- ₹10
- Listing at
- BSE SME
Source: ProspectusUpdated
Reservation
Share of the total issue- QIB47.4%
- Retail33.2%
- NII14.2%
- Market maker5.2%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 18,24,600 | 35.00% | 35% |
| Non-institutional investors (NII) | 7,82,400 | 15.01% | 15% |
| Qualified institutional buyers (QIB) | 26,05,800 | 49.99% | 50% |
| Market maker | 2,86,800 | — | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹191 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 600 | ₹1.15 L |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2023-24- EPS (basic)
- ₹10.39
- EPS (basic) (Six months ended Sep 30, 2024)
- ₹4.96
- P/E (FY 2023-24 at issue price)
- 18.38×
- RoNW
- 76.69%
- NAV per share (Sep 30, 2024)
- ₹21.58
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Sep 20246 months | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 | 31 Mar 2022FY 2021-22 |
|---|---|---|---|---|
| Revenue from operations | 82.00 | 177.40 | 98.79 | 167.37 |
| Total income | 82.34 | 177.81 | 98.93 | 167.89 |
| EBITDA | 11.59 | 23.78 | 5.58 | 4.49 |
| Profit after tax | 7.55 | 15.59 | 1.74 | 2.05 |
| Net worth | 33.13 | 20.33 | 4.74 | 3.00 |
| Reserves and surplus | 17.78 | 17.33 | 1.74 | — |
| Total assets | 95.25 | 77.21 | 44.37 | 31.81 |
| Total borrowing | 33.47 | 30.76 | 26.72 | 14.80 |
FY 2023-24 vs FY 2022-23: revenue +79.6%, profit after tax +796.7%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
The company provides turnkey solar solutions covering design, procurement, construction, commissioning and operation and maintenance of solar power plants. It serves residential rooftop, commercial and industrial, ground-mounted and government projects, and also sells solar products such as PV modules and inverters.
- Incorporated
- 2022
- Industry
- Renewable Energy
- Sector
- Energy and Power
- CIN
- U31909GJ2022PLC129634
- Website
- solariumenergy.in
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue |
|---|---|---|---|
| Ankit Garg | Promoter | 34.20% | — |
| Pankaj Vallabhbhai Gothi | Promoter | 34.20% | — |
| Promoter Group (5 members) | Promoter group | 10.09% | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Working capital requirements | 71.00 |
| General corporate purposes | 25.26 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Zodiac Energy Limited | ₹7.5 | 51.62× | 23.06% | ₹32.51 |
| Oriana Power Limited | ₹33.41 | 22.21× | 37.13% | ₹76.21 |
| Solarium Green Energy LimitedIssuer | ₹10.39 | 18.38× | 76.69% | ₹13.55 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Offers end-to-end turnkey solar project services plus solar product sales.
- Holds BIS, ISO 9001, ISO 14001 and ISO 45001 accreditations.
- Revenue grew sharply in FY 2023-24 with higher profit after tax.
- Serves residential, commercial and government solar segments.
Risks
- Revenue is heavily concentrated in the state of Gujarat.
- Top 10 customers contributed about 41% of revenue in the six months to Sep 2024.
- Working capital needs are high and receivable and inventory holding periods have risen.
- Operations and cash flows were negative in recent periods, and related party loans are significant.
- Manufacturing of solar modules was halted in February 2024 due to regulatory changes.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹191) appear here after the shares list on BSE SME.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Solarium Green Energy IPO open and close?
According to the Prospectus, the issue opens on Thursday, 6 February 2025 and closes on Monday, 10 February 2025.
What is the Solarium Green Energy IPO price band?
The final issue price is ₹191 per share.
What is the lot size of the Solarium Green Energy IPO?
One lot is 600 shares, which is ₹1.15 L at ₹191 per share.
Where will Solarium Green Energy shares list?
On BSE SME. The tentative listing date is Thursday, 13 February 2025.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Solarium Green Energy IPO allotment status?
The basis of allotment is expected to be finalised on Tuesday, 11 February 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited) or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹71 Cr for working capital requirements, ₹25.26 Cr for general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.