The Bombay Stock Exchange (BSE) has approved the Draft Red Herring Prospectus (DRHP) of Solarium Green Energy Limited for its upcoming Initial Public Offering (IPO). The company is going public to raise funds for its working capital requirements and for general corporate purposes. Solarium plans to issue up to 5.5 million equity shares, each with a face value of Rs 10, in the upcoming IPO.
About Solarium Green Energy Limited:
Solarium Green Energy Limited, established by Ankit Garg, an alumnus of the Indian School of Mines, Dhanbad, is a leading provider of turnkey solar solutions. The company offers a wide range of services, including design, engineering, procurement, testing, installation, commissioning, and comprehensive operation and maintenance (O&M) services. Serving diverse clients across residential, commercial, industrial, and government sectors, Solarium specializes in various projects such as residential and commercial rooftop systems, ground-mounted solar installations, solar trees, carports, solar-wind hybrid projects, and energy storage solar solutions.
Solarium Green Energy has firmly established itself as a leader in the industry. Between FY22 and FY24, the company completed 8,506 residential rooftop projects, 152 commercial and industrial (C&I) projects, and 8 government projects. As of August 2024, the company is managing 41 ongoing projects worth Rs 165.29 Crore, with new tenders totaling Rs 252.86 Crore under bidding as of September 2024.
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