PNN
Mumbai (Maharashtra) [India], February 4: Solarium Green Energy Limited specializes in Turnkey solutions including design, engineering, procurement, testing, installation, commissioning, transmission systems, and comprehensive O&M services. It proposes to open its Initial Public Offering on February 06, 2025 aiming to raise Rs 105.04 Crores, with shares to be listed on the BSE SME platform.
The issue size is 54,99,600 equity shares of face value of Rs 10 each with an issue price band of Rs181 - Rs191 Per Share.
Equity Share Allocation
* Qualified Institutional Buyer - At least 26,05,800 Equity Shares
* HNI - At least 7,82,400 Equity Shares
* Retail Individual Investors - At least 18,24,600 Equity Shares
* Market Maker - Up to 2,86,800 Equity Shares
The net proceeds from the IPO is to meet working capital requirements, and to address general corporate purposes. The anchor bidding will open on February 05, 2025, the issue opening date will be February 06, 2025 and the issue will close on February 10, 2025.
Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the Issue, while Link Intime India Private Limited will serve as the Registrar to the Issue.
Ankit Garg, Chairman & Managing Director of Solarium Green Energy Limited expressed, "Over the years, our expertise and strategic vision have been instrumental in establishing the company as an emerging EPC player across the residential, commercial & industrial (C&I), and government sectors. With India's growing renewable energy demand and the nation's ambitious target of achieving 500 GW by 2030, we are committed to playing a significant role in expanding the country's green energy capacity. Our dedication to sustainability drives us to deliver innovative and impactful energy solutions.
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. This IPO is not just about scaling our businessit is a step toward accelerating India's transition to clean energy and building a more sustainable future."
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