Solarium Green Energy Sets Sights on February IPO with Rs 105 Crore Target

Solarium Green Energy Limited is set to launch its IPO on February 6, 2025, with a target of raising Rs 105.04 Crores. The funds are aimed at enhancing working capital and advancing India's renewable energy goals, with shares to be listed on the BSE SME platform.

Mumbai-based Solarium Green Energy Limited, a leading player in delivering turnkey solutions in energy systems, has announced its Initial Public Offering (IPO) set for opening on February 6, 2025. The company aims to garner Rs 105.04 Crores through this offering, with shares expected to be listed on the BSE SME platform.

The IPO will involve the issuance of 54,99,600 equity shares priced between Rs 181 and Rs 191 each. Allocation includes at least 26,05,800 shares for Qualified Institutional Buyers, 7,82,400 for High Net Worth Individuals, 18,24,600 for Retail Investors, and up to 2,86,800 for Market Makers.

Proceeds from the IPO are intended to bolster working capital needs and other corporate purposes. Beeline Capital Advisors Private Limited will manage the issue, with Link Intime India Private Limited acting as the registrar. Solarium's Chairman, Ankit Garg, emphasizes the IPO's role in furthering India's renewable energy ambitions, aiming for 500 GW by 2030.

(With inputs from agencies.)