by Solarium Green Energy Ltd. is hitting the primary market with its Initial Public Offering (IPO) to raise ₹105.04 crore. The IPO will be open for subscription from February 6 to February 10, 2025. Here’s a breakdown of everything you need to know before investing:
About Solarium Green Energy
Incorporated in 2015, Solarium Green Energy specializes in providing comprehensive solar solutions. They offer turnkey services including design, engineering, procurement, construction, testing, commissioning, and operation & maintenance of solar projects for residential, commercial, industrial, and government sectors. Their business is divided into turnkey solar project solutions and the sale of solar products.
IPO Details
- IPO Open Date: February 6, 2025
- IPO Close Date: February 10, 2025
- Face Value: ₹10 per share
- Price Band: ₹181 to ₹191 per share
- Issue Size: ₹105.04 crore
- Fresh Issue: The IPO consists entirely of a fresh issue of 55 lakh shares.
- Issue Type: Book Built Issue
- Listing: BSE SME
- Minimum Lot Size: 600 shares
- Investment for Retail Investors: A minimum of ₹1,14,600 is required at the upper price band.
- Retail Quota: Not more than 35% of the net issue
- QIB Quota: Not more than 50% of the net issue
- NII Quota: Not more than 15% of the net issue
Objectives of the IPO
The company plans to use the net proceeds from the IPO for the following purposes:
- Meeting working capital requirements
- General corporate purposes
Allotment and Listing
- Allotment Finalization: February 11, 2025
- Credit to Demat Account: February 12, 2025
- Initiation of Refunds: February 12, 2025
- Tentative Listing Date: February 13, 2025, on the BSE SME platform
Grey Market Premium (GMP)
- The grey market premium (GMP) for Solarium Green SME IPO was ₹20 as of February 5, indicating a potential listing gain of 10.47%.
- However, as of February 3, Solarium Green Energy’s unlisted shares were not commanding any premium in the grey market.
Anchor Investors
Ahead of the IPO, Solarium Green Energy raised ₹29.85 crore by allocating 15,63,000 shares to anchor investors including India Max Investment Fund, Aarth AIF, and others.
Company Strengths
- Scaled and integrated operations for renewable energy projects
- Diversified portfolio with a strong domestic presence
- Strong relationships with customers and suppliers
Frequently Asked Questions (FAQs)
- What does Solarium Green Energy do? Solarium Green Energy provides turnkey solar solutions, including design, engineering, procurement, construction, and maintenance for various sectors.
- What is the IPO price band? The price band is set between ₹181 and ₹191 per share.
- What is the minimum lot size for application? The minimum lot size is 600 shares, amounting to ₹1,14,600 at the upper price band.
- When will the shares be listed? The tentative listing date is February 13, 2025, on the BSE SME platform.
Disclaimer: This blog is for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions. The grey market premium (GMP) is just an indicator and not a guarantee of listing gains.
“The key to financial freedom is learning to control your expenses.” – Robert Kiyosaki
📢 Need Expert Help with Finance & Taxation?
Get professional assistance on Taxation, Business Registration & Compliance. 🔗 Contact Us for expert guidance! 🚀
