Upcoming IPO: Solarium Green Energy receives BSE nod for SME IPO launch. Details here

Upcoming IPO: Solarium Green Energy has received a nod from the BSE for SME IPO launch.

The Bombay Stock Exchange (BSE) has approved the Draft Red Herring Prospectus of – Solarium Green Energy Limited for IPO.

Solarium Green Energy_ objectves of the issue

The company is going public through an IPO to meet working capital requirements, and to address general corporate purposes, has Received In-Principle approval From BSE.

Solarium Green Energy- Size of the IPO

Solarium Green Energy has plans to issue up to 55,00,000 equity shares, each with a face value of ₹10, in the forthcoming IPO.

About Solarium Green Energy Ltd

Solarium Green Energy Limited, was established to provide turnkey solar solutions. Solarium Green Energy 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 specializes 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.

Solarium Green Energy Financials

For the period ended 31st March 2024, Solarium Green Energy reported Revenue of ₹177.80 Crore and EBITDA of ₹23.78 Crore & PAT ₹15.59 Crore.

As per Solarium Green Energy Limited, it remains a leader in the sector. Between FY22 and FY24, Solarium Green Energy successfully completed 8,506 residential rooftop projects, 152 C&I projects, and 8 government projects. As on August’24 Solarium is managing 41 ongoing projects worth ₹165.29 Crore and As on September’24 new tenders under bidding totalling ₹252.86 Crore.

Solarium Green Energy-Lead managers and Registars of the issue

Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the Issue, while Link Intime India Private Limited will serve as the Registrar to the Issue

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