Solarium Green Energy Limited IPO

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Solarium Green Energy Limited is a turnkey solar solutions provider specializing in the design, engineering, procurement, construction, commissioning, and maintenance of solar power plants. Solarium green energy limited offers a comprehensive range of solar energy solutions, focusing on turnkey renewable energy projects and the supply of solar products.

i. Turnkey Solar Solutions
ii. Project Segments Served
iii. Solar Product Sales

Strategic Expansion & Subsidiary Acquisition

i. As part of its expansion, Solarium Green Energy Limited acquired a 99.99% stake in Solarium Ventures LLP for ₹99,990 on August 10, 2024.
ii. Solarium Ventures LLP operates in a similar business segment, strengthening the company’s position in the renewable energy sector.

Conclusion

With a strong legacy in the solar energy sector, Solarium Green Energy Limited continues to expand its turnkey solar solutions, project execution capabilities, and product offerings. Despite challenges such as the ALMM exclusion, the company has successfully diversified its operations, focusing on renewable energy project execution and strategic acquisitions to drive growth in the rapidly evolving solar energy industry.

Objects of the Solarium Green Energy Limited IPO:

The Company intends to utilized the proceeds towards the following objects: i. To Meet Working Capital Requirements ii. General Corporate Purposes.
DRHP of Solarium Green Energy Limited IPO
RHP of Solarium Green Energy Limited IPO

Solarium Green Energy Limited IPO Details:

Open Date: Feb 06 2025
Close Date: Feb 10 2025
Total Shares: 54,99,600
Face Value: ₹ 10 Per Equity Share
Issue Size: 105.04 Cr.
Lot Size: 600 Shares
Issue Price: ₹ 181 - 191 Per Equity Share
Listing At: BSE SME
Listing Date: Feb 13 2025

Promoters And Management:

Ankit Garg, Chairman and Managing Director, is a Promoter of the Company. A B.Tech graduate from ISM Dhanbad (2011), he has over 12 years of experience in sales, marketing, and business development in the solar and construction equipment industries. He joined as a Director at incorporation (Feb 24, 2022) and was appointed Chairman & MD for a three-year term from June 24, 2024. Pankaj Vallabhbhai Gothi, Whole-Time Director and Promoter of the Company, studied B.Com at Saurashtra University. With over 9 years of experience in sales and marketing in the solar and construction equipment industries, he has been a Director since incorporation (Feb 24, 2022) and was appointed Whole-Time Director for a three-year term from June 24, 2024. Priya Bansal, Non-Executive Director of the Company, holds a B.Com from the University of Mumbai (2010), a PGDM in Retail Management from JIMS (2012), and an Executive Development Program certificate from XLRI (2023). With over 5 years of experience in banking and consulting, she was appointed as an Additional Non-Executive Director on August 1, 2024, and regularized on August 7, 2024.

Financials of Solarium Green Energy Limited IPO:

Financial Year

Revenue (INR Lakhs)

PAT (INR Lakhs)

FY 21-22

16,736.91

205.04

FY 22-23

9,878.98

173.86

FY 23-24

17,739.69

1,558.97

6MFY25

8,199.85

755.43

Comparison With Peers:

( Fig. in Cr )
Company  Revenue (FY24) EBITDA (FY24) PAT (Fy24) P/E
Solarium Green Energy 178 23 15 25x
Zodiac Energy 220 23 11 45x
Oriana Power 383 145 97 33x
Oriana looks best priced in terms of growth and valuation.

Recommendation on Solarium Green Energy Limited IPO:

Review and Recommendation of Solarium Green Energy SME IPO by IZ team is 3/10

Lead Manager of Solarium Green Energy Limited IPO:

  1. Beeline Broking Limited

Registrar of Solarium Green Energy Limited IPO:

  1. Link Intime India Private Limited

Company Address:

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/

Discussion on Solarium Green Energy Limited IPO:

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