Solarium Green Energy Limited, a key player in the renewable energy sector, has filed its Draft Red Herring Prospectus (DRHP) with the BSE SME in anticipation of its initial public offering (IPO). The proposed issue size is up to 55,00,000 equity shares. The funds raised will primarily address the company’s working capital needs and general corporate purposes.
For the fiscal year ending March 31, 2024, Solarium reported robust financials, with revenue reaching ₹17,780.83 lakhs, EBITDA at ₹2,377.51 lakhs, and a profit after tax (PAT) of ₹1,558.97 lakhs. Founded by IIT Dhanbad alumnus Ankit Garg, Solarium specializes in turnkey solar solutions, offering services from design and engineering to installation and O&M.
The company’s diverse portfolio includes residential, commercial, and industrial rooftop projects, as well as ground-mounted systems and government initiatives. Solarium also manufactures and supplies solar products like PV modules and inverters, maintaining high standards with BIS and ISO certifications. With 41 ongoing projects valued at ₹16,529.45 lakhs and new tenders worth ₹25,286.06 lakhs, Solarium is well-positioned for continued growth.
