Solarium Green Energy Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Solarium Green Energy Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹191
Per ShareLot Size
600 Shares
Minimum Investment
₹1,14,600
Issue Size
₹105.04 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Solarium Green Energy Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
78.5%
Promoter Holding (Post-Issue)
57.79%
Issue Type
Book Building - SME
ISIN
INE0W0H01017
About the Company
Our company provides Turnkey Solar Solutions which involves design, engineering, procurement & supply, construction & erection, testing, commissioning, associated transmission system and comprehensive Operation & Maintenance ("O&M") of solar power plant. We serve a wide range of projects, including Residential rooftop projects, Commercial and Industrial ("C&I") roof top and Ground Mounted projects, as well as Government Projects. Along with our turnkey solutions, we are also involved in Sale of Solar Products i.e. Solar PV (Photovoltaic) Modules, Solar PV Inverters, Availability Based Tariff Meters ("ABT") and other solar products. We are accredited with various certifications including BIS (Bureau of Indian Standards), ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018.
Industry Overview
We are primarily engaged in the renewable energy sector whereby we operate in solar energy projects which involves design, engineering, procurement & supply, construction & erection, testing, commissioning, associated transmission system and comprehensive Operation & Maintenance ("O&M").
Company History
Our Company was originally formed as a Limited Liability Partnership in the name and style of Solarium Green Energy LLP, under the provisions of the Limited Liability Partnership Act, 2008, on December 17, 2015, vide certificate of incorporation issued by Registrar of Companies, Ahmedabad. Later on, Solarium Green Energy LLP was converted to a Private Limited company under Part I chapter XXI of the Companies Act, 2013, under the name of Solarium Green Energy Private Limited and received certificate of incorporation from Central registration Center, Registrar of Companies dated February 24, 2022. Subsequently, our Company was converted into a public limited company pursuant to a special resolution passed by our Shareholders at an Extra-ordinary General Meeting held on April 11, 2024, and the name of Company was converted to Solarium Green Energy Limited and a fresh certificate of incorporation consequent upon conversion dated June 21, 2024, was issued by the Central Processing Centre, Registrar of Companies.
Products & Services
- The company provides Turnkey Solar Solutions which involves design, engineering, procurement & supply, construction & erection, testing, commissioning, associated transmission system and comprehensive Operation & Maintenance of solar power plant.
Growth Strategy
- Improve Domestic Presence.
- Continue to invest in and improve our integrated business model.
- Customer Satisfaction.
- Maintaining edge over competitors.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 2 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public issue of upto 54,99,600 equity shares of face value of Rs. 10/- each of Solarium Green Energy Limited ("Solarium, "SGEL" or the company or the issuer) for cash at a price of Rs. 191 per equity share including a share premium of Rs. 181 per equity share (the issue price) aggregating to Rs. 105.04 crores (the issue), of which 2,86,800 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 191 per equity share including a share premium of Rs. 181 per equity share aggregating to Rs. 5.48 crores will be reserved for subscription by market maker to the issue (the market maker reservation portion). The issue less the market maker reservation portion i.e. net issue of 52,12,800 equity shares of face value of Rs. 10/- each at a price of Rs. 191 per equity share including a share premium of Rs. 181 per equity share aggregating to Rs. 99.56 crores is herein after referred to as the net issue. The issue and the net issue will constitute 26.38% and 25%, respectively, of the post issue paid up equity share capital of the company. Price Band: 191 per equity share of face value of Rs. 10 each. The Floor price is 19.10 times the face value of the equity shares respectively. Bids can be made for a minimum of 600 equity shares and in multiple of 600 equity shares thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Scaled and integrated operations for renewable energy projects.
- Diversified Portfolio with strong domestic presence.
- Strong relationship with customers and suppliers.
- Experienced management team with industry expertise.
- The company revenues are highly dependent on its operations in the geographical region of the State of Gujarat. Any adverse development affecting its operations in this region could have an adverse impact on the company business, financial condition and results of operations.
- The company were engaged in the manufacturing of Polycrystalline Solar Module from year 2018, which was put on halt in February, 2024, due to reforms in Approved List of Modules and Manufacturers of Solar Photovoltaic Modules by Ministry of New & Renewable Energy. Any such regulatory changes or change by Ministry of New & Renewable Energy or any other government authority in policy in relation to solar modules or ancillary products may affect the company's operations, cash flows and financial conditions.
- The company business is dependent on few numbers of clients. Its Top 10 customers contributed 40.76%, 41.01%, 25.98% and 39.71% of revenue from operations in period/financial year ended on September 30, 2024, March 31, 2024, 2023 and 2022, respectively. The loss of any of these clients could have an adverse effect on its business, financial condition, results of operations and cash flows.
- Several of its key raw materials and components are sourced from a limited group of suppliers, which exposes it to supplier concentration risks. Any restriction in supply or defects in quality could cause delays in project construction or implementation and impair its ability to provide the company services to clients at a price that is profitable to it, which could have a material adverse effect on its business, financial condition and results of operations.
- The company is exposed to risks associated with time and cost overruns, delays or under- estimations of its costs of construction, which may affect the economic viability of the company renewable energy projects.