Solarium Green Energy IPO opens this week

^{Solarium Green Energy, a solar EPC solutions provider, announced that its initial public offering will open for subscription on Feb. 6, 2025, with shares to be listed on the BSE SME platform. The company aims to raise INR 105.04 crore through the IPO. The anchor bidding will open on Feb. 5. The issue will close on Feb. 10, 2025.}

^{The issue size is 5,499,600 equity shares of face value of INR 10 each. The price band is fixed at INR 181 – 191 per share and the lot size is 600 equity shares.}

^{At least 2,605,800 equity shares have been reserved for qualified institutional buyers, 782,400 equity shares for high-networth individuals, 1,824,600 equity shares for retail individual investors, and up to 286,800 equity shares for market maker.}

^{The company intends to use net proceeds from the IPO to meet its working capital requirements and to address general corporate purposes.} 

^{Beeline Capital Advisors is the book running lead manager to the Issue, while Link Intime India will serve as the registrar to the issue.}

^{Ankit Garg, chairman and managing director of Solarium Green Energy, “The funds raised through this IPO will enhance our working capital, ensuring seamless project execution and positioning Solarium to capitalize on emerging opportunities in the renewable sector.”}

^{Between April 2021 and Sept. 2024, Solarium Green Energy completed 11,195 residential rooftop projects, 172 commercial and industrial (C&I) projects, and 17 government projects. For the period ended March 31, 2024, the company reported revenue of INR 177.80 crore and net profit (profit after tax) of INR 15.59 crore.}

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