Solarium Green Energy, a turnkey solar solution provider, has filed its Draft Red Herring Prospectus (DRHP) with the BSE SME platform, taking a step closer to launching its initial public offering (IPO). The company plans to issue up to 55 lakh equity shares through the IPO, with the primary goal of raising funds to meet its working capital needs and general corporate purposes.
For the fiscal year ending March 2024, Solarium Green Energy reported impressive financial results, with a revenue of ₹178 crore, EBITDA of ₹24 crore, and a net profit of ₹16 crore. The company’s diverse portfolio includes residential rooftop installations, commercial and industrial projects, ground-mounted systems, and government initiatives.
Between FY22 and FY24, Solarium successfully completed 8,506 residential rooftop projects, 152 C&I projects, and 8 government projects. It currently has 41 ongoing projects valued at ₹165 crore and is pursuing new tenders worth ₹253 crore.
Founded by IIT Dhanbad alumnus Ankit Garg, Solarium Green Energy offers comprehensive services, including design, engineering, procurement, testing, installation, commissioning, and operation & maintenance (O&M), along with a range of solar products like PV modules and inverters.
