Solarium Green Energy Limited, a rising star in the solar energy industry, has filed its Draft Red Herring Prospectus (DRHP) with the BSE SME platform, marking a significant step towards its initial public offering (IPO). The proposed public issue involves up to 55,00,000 equity shares, aimed at bolstering the company’s working capital and supporting general corporate purposes. This IPO is expected to strengthen Solarium’s financial foundation and facilitate its expansion plans amid India’s growing shift towards renewable energy.
For the fiscal year ending March 31, 2024, Solarium reported impressive financial results, with revenue of ₹17,780.83 lakhs, an EBITDA of ₹2,377.51 lakhs, and a net profit after tax (PAT) of ₹1,558.97 lakhs. Founded by IIT Dhanbad alumnus Ankit Garg, Solarium has quickly established itself as a leader in turnkey solar solutions, offering services across design, engineering, installation, and O&M.
With a diversified portfolio spanning residential, commercial, industrial, and government solar projects, Solarium is well-equipped to capitalize on the booming solar energy sector in India. The company’s ongoing projects are valued at ₹16,529.45 lakhs, with new tenders worth ₹25,286.06 lakhs in the pipeline, showcasing its robust business momentum.
