Solar91 Cleantech Limited IPO

Apply 0
Avoid 0

Don't Miss It! Mark Your Calender Now:


Solar91 Cleantech Limited (formerly Solar91 Cleantech Private Limited) is a clean energy solutions company specializing in EPC (Engineering, Procurement, and Construction) services for solar energy projects. Founded in 2015 by IIT alumni, the Company operates with the vision of driving a renewable energy revolution in India by helping commercial and industrial customers reduce their power consumption through clean energy solutions.

Core Business Segments

i. EPC Solar Energy Solutions
ii. Independent Power Producer (IPP) Model (Upcoming Focus):

Key Strategic Advantages

i. Founders’ Expertise: Led by promoters with IIT alumni backgrounds, leveraging their technical and managerial expertise in clean energy solutions.
ii. Comprehensive EPC Capabilities: Turnkey solutions for solar energy projects, enabling customers to seamlessly transition to renewable energy sources.
iii. Transition to IPP Model: Expanding business operations to become an Independent Power Producer, creating long-term, recurring revenue streams and Focus on SPV-based projects to secure stable partnerships with DISCOMs through PPAs.
iv. Clean Energy Focus: Alignment with India’s renewable energy goals to promote clean energy adoption among commercial and industrial sectors.

Conclusion

Solar91 Cleantech Limited, driven by a clean energy vision, is positioned as a key player in India’s renewable energy sector. Through its EPC solutions and upcoming IPP model, the Company is well-poised to deliver clean, sustainable, and cost-effective energy solutions to commercial, industrial, and distribution stakeholders. Its dual focus on project execution and asset ownership ensures long-term growth and value creation.

Objects of the Solar91 Cleantech Limited IPO:

The Company intends to utilize the proceeds:- i. To meet the expenses for Investment in Subsidiary for development of Solar Projects as an Independent Power Producer (IPP) ii. To meet the expenses for Working capital requirement for the company iii. To meet the expenses for General Corporate Purpose.

Solar91 Cleantech Limited IPO Details:

Open Date: Dec 24 2024
Close Date: Dec 27 2024
Total Shares: 54,36,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 106.00 Cr.
Lot Size: 600 Shares
Issue Price: ₹ 185 - 195 Per Equity Share
Listing At: BSE SME
Listing Date: Jan 01 2025

Promoters And Management:

Mr. Saurabh Vyas, aged 45, is a Promoter, Director, and Chairperson of the company. He holds an Integrated Master’s Degree in Aeronautical Engineering from IIT Bombay (2004) and has over nine years of industry experience. His strong educational background and focus on developing new business areas have been instrumental in driving the company's growth and success. Mr. Prateek Agrawal, aged 33, is a Promoter and Managing Director of the company. A Chemical Engineering graduate from IIT Roorkee (2013), he brings over nine years of experience in the solar industry. At Solar91, he oversees plant operations, ensuring efficiency and smooth functioning. His strong engineering background, problem-solving abilities, and commitment to sustainable energy drive innovation and teamwork, making him a key contributor to the company's success. Mr. Sandeep Gurnani, aged 35, is a Promoter, Director, and Chief Executive Officer of the company. A Civil Engineering graduate from IIT Delhi (2012), he has over nine years of experience in the solar industry. Sandeep focuses on technological advancements, particularly in battery technology, driving the company's tech initiatives. His expertise and commitment to innovation have been instrumental in keeping the company at the forefront of industry developments.

Financials of Solar91 Cleantech Limited IPO:

To be updated shortly.

Comparison With Peers:

To be updated shortly.

Recommendation on Solar91 Cleantech Limited IPO:

To be updated shortly.

Lead Manager of Solar91 Cleantech Limited IPO:

  1. Narnolia Financial Services Ltd

Registrar of Solar91 Cleantech Limited IPO:

  1. Maashitla Securities Pvt. Limited

Company Address:

Solar91 Cleantech Limited Plot No. D-802, Sector-5, Malviya Nagar, Jaipur 302017 Phone: 91 805 8300 034 Email: info@solar91.com Website: https://www.solar91.com/

Discussion on Solar91 Cleantech Limited IPO:

Leave a Reply