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Solarium Green Energy Limited Files DRHP with BSE SME for IPO

• ByStartupStory     |    September 12, 2024

Solarium Green Energy Limited (Solarium, The Company), a leading provider of turnkey solar solutions, has officially filed its Draft Red Herring Prospectus (DRHP) with the BSE SME in preparation for its initial public offering (IPO). The issue size is expected to be up to 55,00,000 equity shares.

The funds raised through the IPO will be utilized primarily to meet the company’s working capital requirements, in addition to addressing general corporate purposes.

For the financial year ending March 31, 2024, Solarium Green Energy Limited reported a revenue of ₹17,780.83 lakhs, an EBITDA of ₹2,377.51 lakhs, and a PAT of ₹1,558.97 lakhs, reflecting the company’s strong financial performance.

Founded by IIT Dhanbad alumnus Ankit Garg, Solarium Green Energy Limited has established itself as a prominent player in the renewable energy sector, specializing in turnkey solar solutions. The company offers a comprehensive range of services, including design, engineering, procurement, testing, installation, commissioning, and operation & maintenance (O&M).

Solarium Green Energy Limited’s diverse portfolio includes residential rooftop installations, commercial and industrial (C&I) rooftop projects, ground-mounted systems, and government projects. The company also provides a variety of solar products, such as PV modules, inverters, and Availability Based Tariff (ABT) meters, reflecting its commitment to delivering high-quality solutions. The company is BIS and ISO certified, further showcasing its dedication to industry standards.

Over the past three years, Solarium Green Energy Limited has completed 8,506 residential rooftop projects, 152 C&I projects, and 8 government projects. The company currently has 41 ongoing projects worth ₹16,529.45 lakhs, alongside new tenders amounting to ₹25,286.06 lakhs.

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