Solar91 IPO description – Solar91 specializes in providing EPC (Engineering, Procurement, and Construction) solar energy solutions to commercial and industrial clients, helping them reduce power consumption through renewable energy sources. The company designs operates, and maintains grid-connected and off-grid solar power projects. Moving towards the IPP (Independent Power Producer) model, Solar91 is now focused on building its portfolio of solar projects.
The company offers a range of solutions, including industrial, commercial, and residential rooftop solar installations, open access and group captive solutions, agro PV, and distributed solar investment opportunities. The subsidiary generates revenue by entering into Power Purchase Agreements (PPAs) with DISCOMs (Electricity Distribution Companies) to sell electricity generated from these projects.
Solar91 initially launched its operations in Rajasthan and Maharashtra, focusing on the agro-processing and textile industries. Under the EPC model, the company has successfully commissioned 180 plants across 13 states in India, as well as one plant in Kenya, Africa. In 2023, Solar91 also commissioned two projects under the IPP model. As of 31 July 2024, Solar91 has commissioned over 77 MW of solar plants across India and employs a team of 62 dedicated professionals.
Promoters of Solar91 – Mr. Prateek Agrawal, Mr. Saurabh Vyas, Mr. Sandeep Gurnani, and Mr. Dhawal Gaurang Vasavada
Table of Contents
Solar91 IPO Details
| Solar91 IPO Dates | Coming soon |
| Solar91 Issue Price | INR 185 – 195 per share |
| Fresh issue | 54,36,000 shares (INR 100.57 – 106.0 crore) |
| Offer For Sale | NIL |
| Total IPO size | 54,36,000 shares (INR 100.57 – 106.0 crore) |
| Minimum bid (lot size) | 600 Shares (INR 1,17,000) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | BSE SME |
Solar91 Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 | H1 FY 2025 |
| Revenue | 41.57 | 37.58 | 42.77 | 50.25 |
| Expenses | 41.57 | 37.40 | 39.84 | 45.27 |
| Net income | 0.32 | 0.20 | 2.36 | 4.00 |
Solar91 Offer News
- Solar91 RHP
- Solar91 Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2024
Solar91 Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 0.46 | 0.20 | 2.17 |
| PE ratio | – | – | 85.25 – 89.86 |
| RONW (%) | 24.77 | 8.62 | 49.51 |
| NAV | 1,024.17 | 1,523.20 | 3,047.22 |
| ROCE (%) | 22.10 | 8.77 | 25.81 |
| EBITDA (%) | 1.46 | 2.21 | 9.00 |
| Debt/Equity | 1.73 | 3.29 | 2.30 |
Solar91 IPO GMP Today
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 25 December 2024 | 90 | – | 42,000 |
| 23 December 2024 | 93 | – | 45,000 |
| 21 December 2024 | 70 | – | 41,800 |
| 20 December 2024 | 51 | – | 35,000 |
| 19 December 2024 | 47 | – | 31,500 |
Solar91 IPO Subscription – Live Updates
The market maker reservation portion of shares is not included in the above calculations.
Solar91 IPO Allotment Status
Solar91 IPO allotment status will be available on the Maashitla Securities website. Click on Maashitla Securities IPO weblink to get allotment status.
Solar91 IPO Dates & Listing Performance
| IPO Opening Date | Coming soon |
| IPO Closing Date | Coming soon |
| Finalization of Basis of Allotment | Coming soon |
| Initiation of refunds | Coming soon |
| Transfer of shares to demat accounts | Coming soon |
| IPO Listing Date | Coming soon |
| Opening Price on BSE SME | Coming soon |
| Closing Price on BSE SME | Coming soon |
Solar91 Offer Lead Manager
NARNOLIA FINANCIAL SERVICES LIMITED
201, 2nd Floor, Marble Arch, 236 B A.J.C Bose Road,
Kolkata, West Bengal- 700020, India
Phone: +91- 8130678743
Email:Â [email protected]
Website:Â www.narnolia.com
Solar91 Offer Registrar
MAASHITLA SECURITIES PRIVATE LIMITED
451, Krishna Apra Business Square,
Netaji Subhash Place, Pitampura, Delhi – 110034
Phone:Â +91-11-45121795
Email:Â [email protected]
Website:Â www.maashitla.com
Solar91 Issue Contact Details
SOLAR91 CLEANTECH LIMITED
Plot No. D-802, Sector -5, Malviya Nagar,
Jaipur, Rajasthan, India, 302017
Phone: +91-8058300034
E-mail: [email protected]
Website: www.solar91.com
IPO FAQs
What is Solar91 offer size?
Solar91 offer size is INR 100.57 – 106.0 crores.
What is Solar91 offer price band?
Solar91 public offer price is INR 185 – 195 per share.
What is the lot size of the Solar91 IPO?
Solar91 offer lot size is 600 shares.
What is Solar91 IPO GMP today?
Solar91 IPO GMP today is INR 90 per share.
What is the Solar91 kostak rate today?
Solar91 kostak rate today is INR NA per application.
What is Solar91 Subject to Sauda rate today?
Solar91’s Subject to Sauda rate today is INR 42,000 per application.
