Solarium Green Energy, a leading player in India’s solar energy sector, has recently received approval from the Securities and Exchange Board of India for its highly anticipated Initial Public Offering (IPO). This marks a significant step in the company’s efforts to enhance its capital base, which will further support its growth in the renewable energy space. The company is offering up to 55,00,000 equity shares, with the proceeds primarily directed towards fulfilling working capital requirements and general corporate purposes.
Solarium Green Energy does it all—from sketching out designs to testing, installing, and even maintaining solar setups. Between FY22 and FY24, the company has wrapped up over 8,500 home projects, 152 business projects, and 8 government deals.
Solarium Green Energy – Financials
The financial year ending 31 March 2024, was a banner one for Solarium Green. They raked in a revenue of INR 177.80 crore, with an EBITDA of INR 23.78 crore and a net profit of INR 15.59 crore. These numbers aren’t just good; they shout from the rooftops about the company’s operational prowess and its solid standing in the renewable energy sector. With an IPO on the horizon, their financials are expected to get even rosier.
IPO Details
Solarium Green’s IPO isn’t just another public offering; it’s a fresh issue of up to 55,00,000 shares with a face value of INR 10 per share. The company is planning to channel the funds into working capital requirements, which they’ve pegged at INR 65 crore, with some left for general corporate purposes. Beeline Capital Advisors Private is managing the books, while Link Intime India is keeping the records straight.
The company operates on two main fronts: one, providing end-to-end solar project solutions, and two, selling solar products like PV modules, inverters, and tariff meters. Right now, the company is juggling ongoing projects worth INR 165.30 crore and eyeing another INR 252.86 crore in tenders.
Conclusion
With the green light from SEBI for its IPO, Solarium is ready to take its game to the next level. The capital from the IPO will not only help manage day-to-day operations but also empower them to tackle larger, more intricate projects. As the world leans more into sustainable energy, Solarium Green is poised to be at the forefront of this shift in India.
So, with the IPO approval, Solarium Green Energy isn’t just expanding; it’s setting the stage to dominate the renewable energy market even further. With strong financials, a versatile business model, and leaders who know the ropes, Solarium is gearing up for what looks like a bright future, playing a pivotal role in India’s push towards greener energy.
As of November 2024, the Indian primary market has seen a total of 230 SME IPOs. Out of this, 207 SME listings have achieved positive performance. However, there were challenges as well, with 23 SME IPOs experiencing negative returns. Notably, the average listing day return stands at a remarkable 59.81% for SME IPOs, underscoring the potential for significant gains in this dynamic market. For more information related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
