Solarium Green Energy Files for IPO with BSE SME

Solarium Green Energy, a provider of turnkey solar solutions and comprehensive operation and maintenance (O&M) services, has filed its Draft Red Herring Prospectus (DRHP) with BSE SME to launch its Initial Public Offering (IPO). The company plans to issue 55 lakh equity shares through this offering.

The primary objectives of the IPO are to meet working capital requirements and address general corporate purposes.

For the financial year ending March 2024, Solarium Green Energy reported revenue of ₹178 crore, with an EBITDA of ₹24 crore and a net profit of ₹16 crore. Between FY22 and FY24, the company completed 8,506 residential rooftop projects, 152 commercial and industrial projects, and 8 government projects. Currently, it has 41 ongoing projects valued at ₹165 crore and is pursuing new tenders worth ₹253 crore.

Founded by Ankit Garg, an IIT Dhanbad alumnus, Solarium Green Energy offers a full suite of services, including design, engineering, procurement, testing, installation, commissioning, and comprehensive operation and maintenance. The company excels in a variety of projects, from residential rooftops and commercial installations to ground-mounted systems and government projects.

In addition to turnkey projects, Solarium Green Energy also offers a range of solar products, including PV modules, inverters, and availability-based tariff meters.

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