Solarium Green Energy Limited, a leading provider of turnkey solar solutions, has taken a significant step toward launching its SME IPO by filing the Draft Red Herring Prospectus (DRHP) with the BSE SME platform. The company plans to issue up to 55,00,000 equity shares, primarily meeting working capital needs and addressing general corporate purposes.
For the fiscal year ending March 31, 2024, Solarium reported robust financials, with revenue at ₹17,780.83 lakhs, an EBITDA of ₹2,377.51 lakhs, and a profit after tax (PAT) of ₹1,558.97 lakhs. Founded by IIT Dhanbad alumnus Ankit Garg, Solarium is a key player in the solar energy sector, offering services across residential, commercial, industrial, and government projects. The company’s project pipeline is strong, with 41 ongoing projects valued at ₹16,529.45 lakhs and new tenders worth ₹25,286.06 lakhs.
The DRHP filing marks a pivotal milestone for Solarium as it prepares to enter the public market, potentially attracting significant investor interest amid India’s growing renewable energy sector.
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