Solarium Green Energy, a rising star in the solar industry, has filed its Draft Red Herring Prospectus (DRHP) with BSE for its upcoming SME IPO. The IPO plans to offer up to 55,00,000 equity shares, although the issue size has yet to be disclosed. This move positions Solarium alongside other energy companies that have recently entered the primary market to raise capital for expansion, working capital needs, and more.
Founded in 2018 by IIT alumnus Ankit Garg, Solarium Green Energy provides specialized turnkey solar solutions, including design, engineering, procurement, installation, testing, commissioning, and operation & maintenance (O&M) services. With its headquarters in Ahmedabad, Gujarat, the company has quickly established itself as a key player in the renewable energy sector.
For the fiscal year ending March 31, 2024, Solarium recorded revenue of ₹177.81 crore, an operating profit of ₹23.77 crore, and a net profit of ₹15.59 crore. The company has completed 8,506 residential rooftop projects, 152 commercial and industrial (C&I) projects, and eight government projects. It currently has 41 ongoing projects valued at ₹165.30 crore and new tenders worth ₹252.86 crore.
