Solarium Green Energy Limited Is BSE Bound, Files DRHP With BSE Emerge

Ahmedabad-based Solarium Green Energy, specializing in Turnkey solutions for solar projects, including design, engineering, procurement, testing, installation,  commissioning, transmission systems, and comprehensive O&M services, has filed its Draft Red Herring Prospectus with BSE SME in preparation for the IPO, The issue size will be of up to 55,00,000 Equity Shares.

The objective of the issue is to meet working capital requirements, and to address general corporate purposes.

For the period ended 31st March 2024, The Company reported Revenue of ₹17,780.83 Lakhs and EBITDA of ₹2,377.51 Lakhs & PAT ₹1,558.97 Lakhs.

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About Solarium

An IIT Dhanbad alumnus Ankit Garg, founded Solarium Green Energy Limited in 2018 delivering a full suite of services for its clients. The company has executed a diverse range of projects, encompassing residential rooftop installations, commercial and industrial rooftop projects, ground-mounted systems, and government projects.

Beyond its turnkey solutions, Solarium Green Energy Limited also offers a variety of solar products, such as PV modules, inverters, and Availability Based Tariff (ABT) meters. The company’s has ensured multiple accreditations for these, including BIS and ISO certifications.

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Between FY22 to FY24, Solarium Green Energy Limited has completed 8,506 residential rooftop projects, 152 C&I projects, and 8 government projects. Currently, the company has 41 ongoing projects valued at ₹16,529.45 lakhs and new tenders amounting to ₹25,286.06 lakhs.

The move to list at BSE Emerge by Solarium will ensure that investors in India continue to have access to an ever widening pool of quality renewable firms to invest in. A stark contrast to the situation that prevailed just three years ago. For the new cohort of firms going public, access to capital markets will also provide vital funds necessary to take full advantage of the high growth environment they find themselves in, with annual solar capacity additions expected to comfortably top 30 GW per annum from 2025 onwards.

Recent listings from the sector like Premier Energies, Alpex, GP Eco solutions, Sahaj Solar, and before them, Insolation Energy etc have all delivered stellar returns to investors, laying the ground for many other firms to follow.

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