Solarium Green Energy Limited, a key player in the solar energy sector, has taken a significant step towards its initial public offering (IPO) by submitting its Draft Red Herring Prospectus (DRHP) to the BSE SME platform. The company plans to issue up to 55,00,000 equity shares in the IPO, with the primary objectives of meeting its working capital needs and covering general corporate expenses.
For the fiscal year ending March 31, 2024, Solarium Green Energy reported strong financial performance, with a revenue of ₹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 has rapidly established itself as a leader in providing comprehensive solar solutions, including design, engineering, installation, and ongoing operation & maintenance (O&M).
The company’s diverse project portfolio spans residential, commercial, industrial, and government sectors. With 41 ongoing projects valued at ₹16,529.45 lakhs and new tenders totalling ₹25,286.06 lakhs, Solarium is well-positioned for future growth. The company’s BIS and ISO certifications underscore its commitment to quality and industry standards.
As Solarium prepares to go public, its IPO is expected to attract strong interest, driven by India’s growing focus on renewable energy.
