Solarium Green Energy IPO Day 3: Check subscription status, GMP and other details

Solarium Green Energy IPO: The initial public offering (IPO) of Solarium Green Energy opened for subscription on Thursday, February 6 and closed on Monday, February 10. The company, which aims to raise ₹105.05 crore through the SME IPO, has set a price band of ₹181-191 per share.

Solarium Green Energy Day 3 Subscription Status

Solarium Green Energy IPO was booked 8.83 times at the end of the third day. The retail portion of the public issue was subscribed 5.07 times while the Non-Institutional Investors’ (NII) category received 18.04 times bids. The qualified institutional buyers' (QIBs) category was subscribed 8.51 times.

Solarium Green Energy GMP today

The company's shares in the grey market traded at a premium of ₹9. This indicates an estimated listing price of ₹200, up 5 per cent from the IPO price of ₹191.

One must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.

Solarium Green Energy IPO details

The issue is entirely a fresh issue of 55.00 lakh shares with no offer for sale component. For prospective investors, the minimum lot size for application is 600 shares and in multiples thereof. Retail investors are required to invest a minimum amount of ₹1.14 lakh to participate in the offering.

The company plans to utilize the proceeds to meet its working capital requirements and for general corporate purposes.

Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Solarium Green IPO, while Link Intime India Private Ltd is the registrar for the issue.The market maker for Solarium Green IPO is Spread X Securities Private Limited.

The allotment for the Solarium Green Energy IPO is expected to be finalized on Tuesday, February 11, 2025 while the IPO will list on BSE SME with tentative listing date fixed as Thursday, February 13, 2025.

About the firm

Established in 2015, Solarium Green Energy Limited specializes in solar solutions, offering end-to-end services across residential, commercial, industrial, and government projects. The company provides turnkey solar solutions, encompassing design, engineering, procurement, construction, testing, commissioning, and transmission systems, along with ongoing operation and maintenance. Additionally, Solarium Green Energy undertakes turnkey EPC (Engineering, Procurement, and Commissioning) contracts, managing site assessment, technology evaluation, supply chain coordination, construction, logistics, workforce deployment, financial planning, and warranty services for solar projects.