IPO Details

Bidding Dates

06 Feb '25 - 10 Feb '25

Minimum Investment

₹1,14,600 / 1 Lot (600 Shares)

Price Range

₹181-₹191

Maximum Investment

₹1,14,600 / 1 Lot (600 Shares)

Retail Discount

To be announced

Issue Size

₹105.04 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Solarium Green Energy IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Feb 06, 25

IPO Closing Date

Feb 10, 25

Basis of Allotment

Feb 11, 25

Initiation of Refunds

Feb 12, 25

IPO Listing Date

Feb 13, 25

About Solarium Green Energy IPO

Solarium Green Energy is launching its IPO with a book-built issue of ₹105.04 crore, consisting entirely of a fresh issue of 55 lakh shares. The IPO opens for subscription on February 6, 2025, and closes on February 10, 2025. The allotment is expected to be finalised on February 11, 2025, with the listing scheduled on BSE SME on February 13, 2025.

The price band for the Solarium Green IPO is set between ₹181 and ₹191 per share. Investors can apply for a minimum lot size of 600 shares, requiring an investment of ₹1,14,600 for retail investors. High Net-Worth Individuals (HNIs) must apply for at least two lots, amounting to ₹2,29,200.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager, while Link Intime India Private Ltd is the registrar for the issue. Spread X Securities Private Limited is the market maker for this IPO. Investors seeking detailed financials, risk factors, and objectives of the issue can refer to the Red Herring Prospectus (RHP) for more information.

Industry Outlook

  1. The global solar industry witnessed record-breaking growth in 2023, with 447 GW of new solar capacity added, marking an 87% year-on-year increase. Solar PV dominated the renewable sector, contributing 78% of the 576 GW of new renewable capacity. This surge, driven by improved manufacturing capacities and reduced costs, indicates strong future demand for solar energy solutions.
  2. India’s National Electricity Plan aims to increase the share of non-fossil-based energy to 57.4% by 2026-27 and 68.4% by 2031-32. With a projected peak electricity demand of 277.2 GW by 2026-27 and 366.4 GW by 2031-32, there is a growing need for solar power solutions to meet rising energy consumption.

Solarium Green Energy IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Funds will be used to meet working capital needs, ensuring smooth business operations and timely project execution.
  2. The remaining funds will be used for general corporate purposes.

About Solarium Green Energy Limited 

Solarium Green Energy Limited, originally established as Solarium Green Energy LLP in December 2015, converted into a private company in February 2022 and later became a public limited company in June 2024. The company offers comprehensive turnkey solar solutions, including design, procurement, construction, testing, and operations & maintenance of solar power plants. Its diverse client base includes residential, commercial, industrial, and government projects.

The company specialises in the sale of solar products such as solar PV modules, inverters, and ABT meters. It is ISO certified and has a strong track record in the renewable energy sector, with over 11,000 residential rooftop installations and numerous government and industrial projects completed. Solarium Green Energy’s EPC contracts are handled on a turnkey basis, covering a wide range of services from site assessment to post-commissioning maintenance.

With over 250 employees, including a dedicated team for operations and maintenance, the company maintains a robust project pipeline. As of December 31, 2024, Solarium Green Energy has ongoing projects worth ₹18,507.16 lakh, and its continued success is driven by experienced leadership, an expanding portfolio, and a commitment to quality and timely delivery in the renewable energy industry.

How To Check the Allotment Status of Solarium Green Energy IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for the Solarium Green Energy IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Solarium Green Energy IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Solarium Green Energy IPO 

Registered office: B-1208 World Trade Tower, B/H Skoda Showroom, Makarba, Ahmedabad - 380051, Gujarat, India.

Phone: : +91 90165 49999

E-mail: investor@solariumenergy.in

Solarium Green Energy IPO Reservation

Investor Category

Shares Offered

QIB Shares

Not more than 50% of the net issue

Retail Shares

Not less than 35% of the net issue

NII (HNI) Shares

Not Less than 15% of the net issue

Solarium Green Energy 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 Energy IPO Promoter Holding

Ankit Garg, and Pankaj Vallabhbhai Gothi are the promoters of the company.

Share Holding Pre-Issue

78.50%

Share Holding Post Issue

-

Key Performance Indicators for Solarium Green Energy IPO

As of March 31, 2024, the market capitalisation of Solarium Green Energy's IPO is ₹398.23 crore. Here are the KPIs of Solarium Green Energy:

KPI

Value

RoE (%)

124.38%

RoCE (%)

54.18%

Debt/Equity

1.51

PAT Margin

8.79

Price Metrics

Metric

Pre-IPO

Post-IPO

EPS (₹)

10.16

7.25

P/E (x)

18.81

26.36

Note: The Pre-IPO EPS is based on the pre-issue shareholding as of the RHP date and the latest FY earnings as of March 31, 2024. The Post-IPO EPS is calculated using post-issue shareholding and annualised FY earnings as of September 30, 2024.

Solarium Green Energy IPO Prospectus

Solarium Green Energy IPO Registrar and Lead Managers

Solarium Green Energy IPO Lead Managers

  • Beeline Capital Advisors Pvt Ltd

Registrar for Solarium Green Energy IPO

Link Intime India Private Ltd

Solarium Green EnergyIPO Registrar

Financial Performance of Solarium Green Energy Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 17,739.69 9,878.98 16,736.91
Profit After Tax (PAT) (in ₹ lakh) 1,558.97 173.86 205.04
EPS (Earnings per Share in ₹) 10.39 1.16 1.37
Total Borrowings (in ₹ lakh) 3,076.35 2,672.22 1,479.99
Return on equity (%) 124.38 44.93 45.28
Return on capital employed (%) 54.18 15.92 19.12
EBITDA (in ₹ lakh) 2,377.51 557.89 449.36

Know before investing

Strengths

5

  1. Solarium Green Energy has successfully executed 11,195 residential rooftop projects.

  2. The company holds an ongoing order book worth ₹18,507.16 lakh.

  3. Integrated in-house execution ensures cost efficiency and high-quality standards.

  4. A strong presence across 10 Indian states drives business expansion.

  5. Expertise in solar EPC projects enhances project efficiency and profitability.

Risks

5

  1. Solarium Green Energy relies heavily on Gujarat, with 75.71%-78.63% revenue from the region.

  2. Regulatory changes in solar policies halted polycrystalline module production in 2024.

  3. Top 10 clients contributed up to 41.01% of revenue, creating dependency risks.

  4. Limited supplier base increases risks of raw material shortages and cost hikes.

  5. Cost misjudgments in turnkey projects may impact profitability and project viability.

  • How to Apply in IPO
  • How to Check IPO Allotment Status
Play Button

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Play Button

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Solarium Green IPO Peer Comparison

Company Name EPS (Basic) NAV (per share) (₹) P/E (x) RoNW (%)
Solarium Green Energy Limited 10.39 13.55 - 76.69
Zodiac Energy Limited 7.5 32.51 51.62 23.06
Oriana Power Limited 33.41 76.21 22.21 37.13

Solarium Green Energy IPO FAQs

What is the Solarium Green Energy IPO?

Solarium Green Energy IPO is a book-built issue IPO. It will be open from February 6, 2025, to February 10, 2025.

When will the Solarium Green Energy IPO be allotted?

The Basis of Allotment will happen on Tuesday, February 11, 2025.

When will Solarium Green Energy IPO open for subscription?

The IPO subscription window will open on  February 6, 2025.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 600 shares.

When will Solarium Green Energy and Infra Solutions Limited list on exchanges?

The listing date for Solarium Green Energy Limited is Thursday, February 13, 2025.

What is the issue size of Solarium Green Energy IPO?

The issue size of the Solarium Green Energy IPO is up to ₹105.04 crore, with a fresh issue of ₹105.04 crore.

What are the open and close dates of the Solarium Green Energy IPO?

The open and close dates for Solarium Green Energy IPO are from February 6, 2025, to February 10, 2025.

What would be the listing gains on Solarium Green Energy IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Solarium Green Energy IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Solarium Green Energy IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Solarium Green Energy Limited using one PAN?

You can submit only one application using your PAN card.

How to read Solarium Green Energy and Infra Solutions Limited's financial statements?

To read Solarium Green Energy and Infra Solutions Limited’s financial statements, download the IPO’s  RHP document.

What is 'pre-apply' for the Solarium Green Energy IPO?

Pre-apply allows investors to apply for the  Solarium Green Energy IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Solarium Green Energy Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my Solarium Green Energy Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Solarium Green Energy IPO?

Link Intime India Private Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the Solarium Green Energy IPO getting listed?

Solarium Green Energy IPO is proposed to be listed on the SME platform of the Bombay Stock Exchange (BSE).