Solarium Green Energy Limited, a leader in renewable energy, has taken a major step by filing its Draft Red Herring Prospectus (DRHP) with BSE SME for its upcoming initial public offering (IPO). The company plans to issue up to 55,00,000 equity shares, with funds allocated primarily for working capital and general corporate purposes.
For the financial year ending March 31, 2024, Solarium reported robust financial results, with revenue of ₹17,780.83 lakhs, EBITDA of ₹2,377.51 lakhs, and profit after tax (PAT) of ₹1,558.97 lakhs. These figures highlight the company’s operational strength and its promising future in the renewable energy sector.
Founded by IIT Dhanbad alumnus Ankit Garg, Solarium specializes in end-to-end solar solutions, including design, engineering, procurement, testing, installation, and O&M services. Their project portfolio covers residential, commercial, industrial, and government projects, making them a trusted name in the industry.
With over 8,500 residential projects and 152 commercial projects completed, Solarium’s ongoing projects are valued at ₹16,529.45 lakhs, with new tenders worth ₹25,286.06 lakhs. The company’s strong financials and large project pipeline position it for substantial growth in the solar market.
