Solarium Green Energy Limited, a leading turnkey solar solutions provider, has filed its Draft Red Herring Prospectus (DRHP) with the Bombay Stock Exchange (BSE) to launch its SME initial public offering (IPO). The company filed its DRHP on September 11, though the IPO size has not yet been disclosed. Solarium plans to issue up to 55 lakh equity shares in the offering.
Beeline Capital Advisors Private Limited will serve as the book-running lead manager, while Link Intime India Private Limited is the registrar for the issue. Solarium offers a wide range of services, including design, engineering, procurement, and maintenance for solar projects. The company also manufactures and sells solar products like photovoltaic (PV) modules and inverters.
The firm has completed 8,506 residential rooftop projects and 152 commercial and industrial (C&I) projects by FY24, with 41 ongoing projects worth ₹165.3 crore. Solarium’s revenue grew 80% to ₹177.39 crore in FY24, with profits increasing by over 800% to ₹15.58 crore.
