Solarium Green IPO
Open SmeCurrent GMP
₹5 (+2.62%)
Price Band
₹ 181 – 191
Lot Size
600
Issue Size
₹105.04 Cr
Minimum Investment
₹229200 (1200 Shares)
Listing Date
13 February 2025
Subscription
8.28x
About the Company
Solarium Green Energy Limited, originally founded as Solarium Green Energy LLP in December 2015, was later converted into a private limited company in February 2022 and then into a public limited company in April 2024. The company provides turnkey solar solutions, specializing in design, engineering, procurement, construction, testing, commissioning, and maintenance of solar power plants. They serve a broad range of projects, including residential rooftop installations, commercial and industrial (C&I) rooftop and ground-mounted projects, and government projects. In addition, the company sells solar products such as photovoltaic modules, solar inverters, and availability-based tariff meters.
The company’s leadership, consisting of promoters Ankit Garg and Pankaj Vallabhbhai Gothi, brings over 20 years of experience in renewable energy and related industries. In 2018, Solarium began manufacturing polycrystalline solar panels under its own brand but ceased manufacturing in February 2024 due to regulatory changes. They have since expanded their operations to focus on turnkey solar and hybrid solutions.
Solarium Green Energy also holds a 99.99% stake in Solarium Ventures LLP, which operates in the same sector. The company is involved in both residential and commercial EPC (Engineering, Procurement, and Commissioning) contracts, managing everything from site assessments to installation and O&M services. Their portfolio includes 11,195 residential rooftop projects, 172 C&I rooftop and ground-mounted projects, and 17 government projects completed in the past three years.
Revenue is generated primarily through two business verticals: turnkey solar solutions (including residential, C&I, and government projects) and the sale of solar products. The company’s projects are executed through fixed-price lump-sum turnkey contracts or item rate contracts, depending on the nature of the work.
Solarium is committed to customer satisfaction, offering comprehensive operation and maintenance services post-installation, ensuring long-term performance and reliability of their systems. As of December 2024, they have a strong ongoing order book, with projects valued at ₹18,507.16 Lakhs and a pipeline of government tenders worth over ₹88,000 Lakhs. The company continues to grow its footprint across various regions, including Gujarat, Jammu, and West Bengal.
Promoters
- Ankit Garg
- Pankaj Vallabhbhai Gothi
Promoters Holding
Holding Pre Issue
78.50%
Holding Post Issue
0.00%
Objects of the Issue
The Company intends to utilized the proceeds towards the following objects:
- To Meet Working Capital Requirements
- General Corporate Purposes
Address / Contact Info
Solarium Green Energy Limited
B-1208 World Trade Tower,
B/H Skoda Showroom,
Makarba, Ahmedabad 380051
Phone: +91 91065 49999
Email: investor@solariumenergy.in
Website: http://www.solariumenergy.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Thursday, 06 February 2025
IPO Close Date
Monday, 10 February 2025
Basis of Allotment
Tuesday, 11 February 2025
Initiation of Refunds
Wednesday, 12 February 2025
Credit of Shares to Demat
Wednesday, 12 February 2025
Listing Date
Thursday, 13 February 2025 — NSE & BSE
Important Dates
Open Date
06 February 2025
Close Date
10 February 2025
Basis Of Allotment
11 February 2025
Listing Date
13 February 2025
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 95.25 | 77.21 | 44.37 | 31.81 |
| Revenue | 82.34 | 177.81 | 98.93 | 167.89 |
| Profit After Tax | 7.55 | 15.59 | 1.74 | 2.05 |
| Net Worth | 33.13 | 20.33 | 4.74 | 3 |
| Reserve & Surplus | 17.78 | 17.33 | 1.74 | 0 |
| Total Borrowings | 33.48 | 30.76 | 26.72 | 14.8 |
EPS Pre
10.16%
EPS Post
7.25%
P/E Pre
18.81
P/E (Post Issue)
26.36x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Mar 31, 2024. |
|---|---|
| ROE % | 124.38 |
| ROCE % | 54.18 |
| Debt / Equity | 1.51 |
| RoNW % | 76.69 |
| PbW | 0 |
| Pat Margin % | 8.79 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 1042800 | 0 | 0 |
| Non-Institutional | 1069200 | 0 | 0 |
| Retail Investors | 1824600 | 0 | 0 |
| Total | 3936600 | 0 | 0 |
Subscription Status ( Mon, 10 Feb 25 01:15 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1042800 | 8918400 | 8.55x |
| Non-Institutional | 1069200 | 14403000 | 13.47x |
| Retail Investors | 1824600 | 9261600 | 5.08x |
| Total | 3936600 | 32583000 | 8.28x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 600 | 114,600.00 |
| Retail (Max) | 1 | 600 | 114,600.00 |
| S-HNI (Min) | 2 | 1,200 | 229,200.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Beeline Capital Advisors Pvt Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Solarium Green IPO is a Book-building IPO worth ₹105.04 crores. The price band is ₹181 to 191 per share. The IPO opens on Thu, Feb 6, 2025 and closes on Mon, Feb 10, 2025. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Solarium Green IPO opens on Thu, Feb 6, 2025 and closes on Mon, Feb 10, 2025
Solarium Green IPO Price Band is ₹181 to 191.
Solarium Green IPO lot size is 600, and the minimum amount required for application is ₹229200.
The minimum investment for Solarium Green IPO is approximately ₹229200 based on the upper price band.
To apply for the Solarium Green IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Mon, Feb 10, 2025. After submission, funds are blocked until the basis of allotment of Solarium Green IPO is finalised.
Solarium Green IPO issue size is ₹105.04 crores.
Solarium Green IPO allotment date is Sat, Jun 27, 2026.
The registrar for Solarium Green IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Solarium Green IPO through their official website or helpline.
The Solarium Green IPO GMP (Grey Market Premium) is ₹5 as of Thu, Feb 13, 2025. Based on the upper price band of ₹191 per share, the estimated Solarium Green IPO listing price is ₹196, indicating a potential listing gain of approximately 31% over the issue price.