Solarium Green Energy Ltd., a Gujarat-based turnkey solar solutions provider, has filed its Draft Red Herring Prospectus (DRHP) with BSE SME in preparation for its initial public offering (IPO). The company plans to issue up to 55,00,000 equity shares, with proceeds aimed at meeting working capital needs and general corporate purposes.
For the financial year ending March 31, 2024, Solarium reported strong performance, with revenue of ₹17,780.83 lakhs, EBITDA of ₹2,377.51 lakhs, and PAT of ₹1,558.97 lakhs. The company specializes in comprehensive solar project execution, including design, engineering, procurement, installation, commissioning, and operation and maintenance (O&M).
Solarium offers solar products like PV modules, inverters, and Availability Based Tariff meters, and holds BIS and ISO certifications, ensuring adherence to industry standards. The company has completed 8,506 residential rooftop projects, 152 C&I projects, and 8 government contracts, with 41 ongoing projects worth ₹16,529.45 lakhs and tenders in the pipeline totaling ₹25,286.06 lakhs.
