Solarium Green Energy files draft papers to launch SME IPO with BSE

Solarium Green Energy has filed its draft red herring prospectus (DRHP) with BSE to launch its initial public offering (IPO). The company is preparing for an SME IPO, which includes a share sale of up to 55,00,000 equity shares. However, the company has not disclosed the issue size yet.
 

Solarium Green Energy is a specialty turnkey solutions player, providing design, engineering, procurement, testing, installation,  commissioning, transmission systems, and comprehensive O&M services. The net proceeds from the issue shall be utilized to meet working capital requirements and to address general corporate purposes.
 

For the financial year ended March 31, 2024, Solarium  Green Energy reported revenue of Rs 177.81 crore, with an operational profit of Rs 23.77 crore and a net profit of Rs 15.59 crore.
 

Solarium Green Energy excels in a diverse range of projects, encompassing residential rooftop installations, commercial and industrial rooftop projects, ground-mounted systems, and government projects.  Beyond its turnkey solutions, it also offers a variety of solar products, such as PV modules, inverters, and availability based tariff (ABT) meters.
 

Solarium Green Energy has completed 8,506 residential rooftop projects, 152 C&I projects, and eight government projects till FY24. Currently, the company has 41 ongoing projects valued at Rs 165.30 crore and new tenders amounting to Rs 252.86 crore.