B-1208 World Trade Tower,
B/H Skoda Showroom,
Makarba, Ahmedabad 380051
Phone: +91 91065 49999
Email: investor@solariumenergy.in
Website: http://www.solariumenergy.in/
Last updated on 10-Feb-2025 19:02:02
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 1042800 | 8918400 | 8.55 |
| HNIs | 782400 | 14401200 | 18.41 |
| Retail | 1824600 | 9261600 | 5.08 |
| Total | 3649800 | 32581200 | 8.93 |
| Total Applications: 23483 | |||
| QIB Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹2.2 | @8% ₹2.5 | @9% ₹2.8 | @10% ₹3.1 | @11% ₹3.4 | @12% ₹3.8 |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹4.7 | @8% ₹5.4 | @9% ₹6.1 | @10% ₹6.7 | @11% ₹7.4 | @12% ₹8.1 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 600 | 114600 | 3041 |
| HNI | 2 | 1200 | 229200 | 1304 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 33.18% | 1824600 |
| NII (HNI) | 14.23% | 782400 |
| Anchor | 28.42% | 1563000 |
| QIB | 18.96% | 1042800 |
| Market Maker | 5.21% | 286800 |
| Total | 100.00% | 5499600 |
Solarium Green IPO Details
| Issue Size | 54,99,600 shares (aggregating up to ₹105.04 Cr) |
| Fresh Issue | 54,99,600 shares (aggregating up to ₹ 105.04 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,53,50,000 shares |
| Share Holding Post Issue | 2,08,49,600 shares |
| Market Maker Portion | 2,86,800 shares |
| Market Maker | Spread X Securities |
Key Performance Indicator
| KPI | Sep-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 28.26% | 124.38% | 44.93% |
| ROCE | 18.70% | 54.18% | 15.92% |
| RONW | 22.80% | 76.69% | 36.69% |
| EPS (basic) | 4.96 | 10.39 | 1.16 |
| P/E Pre IPO | 18.81 | ||
| P/E post IPO | 26.36 |
Company Financials In Crores
| Period Ended | Sep-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Assets | 95 | 77 | 44 | 32 |
| Revenue | 82 | 178 | 99 | 168 |
| Profit After Tax | 8 | 16 | 2 | 2 |
| Net Worth | 33 | 20 | 5 | 3 |
| Reserves and Surplus | 18 | 17 | 2 | |
| Total Borrowing | 33 | 31 | 27 | 15 |
About Company
Solarium Green Energy Limited, incorporated in 2015, is engaged in providing turnkey solar solutions, including design, engineering, procurement, construction, testing, commissioning, transmission systems, and Operation & Maintenance (O&M) for residential, commercial, industrial, and government solar projects. The company operates under a dual business model: Turnkey EPC (Engineering, Procurement, and Commissioning) contracts and the sale of solar products. Under its EPC services, Solarium Green Energy manages site assessment, technology evaluation, engineering, supply chain management, construction, logistics, manpower, financial planning, and warranties. It offers residential rooftop solar installations, commercial and industrial (C&I) rooftop and ground-mounted projects, and executes government tenders for renewable energy systems, including hybrid and grid-connected solutions. The company also supplies solar products such as PV modules, inverters, and ABT meters, procuring from accredited vendors, and has previously manufactured polycrystalline solar modules for turnkey projects and direct client supply. Over the past three years, Solarium Green Energy has completed 11,195 residential, 172 commercial and industrial, and 17 government solar projects. As of September 30, 2024, the company employs 253 people.
Strength
Scaled and Integrated Operations – Solarium Green Energy provides end-to-end renewable energy solutions, from design and engineering to procurement, construction, and maintenance, ensuring seamless project execution.
Diversified Portfolio with Strong Domestic Presence – The Company operates across residential, commercial, industrial, and government segments, offering rooftop, ground-mounted, and hybrid solar solutions across India.
Strong Customer and Supplier Relationships – Long-standing partnerships with accredited vendors and a proven track record of successful projects enhance reliability and market credibility.
Weakness
Geographical Concentration Risk – A significant portion of the company’s revenue depends on operations in Gujarat, making it vulnerable to regional economic or regulatory changes.
Regulatory Uncertainty – Changes in government policies, such as the Approved List of Modules and Manufacturers (ALMM) by the Ministry of New & Renewable Energy, have previously impacted operations and could affect future business and financial stability.
Client Dependency – A large portion of revenue comes from a limited number of customers, with the top 10 clients contributing significantly. The loss of any key customer could negatively impact cash flows and overall financial performance.