Solarium Green Energy has filed its Draft Red Herring Prospectus (DRHP) with the Bombay Stock Exchange (BSE) as it gears up for an SME Initial Public Offering (IPO). The IPO will include the sale of up to 55,00,000 equity shares, though the exact issue size is yet to be disclosed.
A leader in turnkey solar solutions, Solarium Green Energy offers services spanning design, engineering, procurement, installation, testing, commissioning, and ongoing operation & maintenance (O&M). The net proceeds from the IPO will be used primarily to meet the company’s working capital needs and for general corporate purposes.
For the financial year ending March 31, 2024, Solarium reported impressive figures with revenue of ₹177.81 crore, an operational profit (EBITDA) of ₹23.77 crore, and a net profit of ₹15.59 crore.
The company’s project portfolio includes residential rooftop installations, commercial and industrial (C&I) rooftop projects, ground-mounted systems, and government-led solar initiatives. In addition to turnkey services, Solarium also supplies key solar products such as photovoltaic (PV) modules, inverters, and Availability-Based Tariff (ABT) meters.
By FY24, Solarium had completed 8,506 residential rooftop projects, 152 C&I projects, and 8 government projects. The company is currently working on 41 ongoing projects valued at ₹165.30 crore, alongside new tenders worth ₹252.86 crore.
