Posted on February 10, 2025, by Niftynews
The Solarium Green Energy IPO opened for public subscription on February 6, 2025, and is scheduled to close today, February 10, 2025. The IPO has generated significant interest, with a decent subscription rate of 1.52 times as of 10:26 AM on Day 3. This SME offering is available at a price band of ₹181 to ₹190 per share, with a minimum lot size of 600 equity shares.
The fresh issue comprises 54,99,600 equity shares, and the total IPO size is valued at ₹105 crore. The retail investors are required to invest a minimum of ₹1,14,600 for one lot (600 shares). On the other hand, high-net-worth individuals (HNIs) need to bid for at least two lots, amounting to ₹2,29,200 for 1,200 shares.
Subscription Status and Investor Demand
As of the latest data available, the Solarium Green Energy IPO has witnessed decent investor demand, with the public offering oversubscribed by 1.52 times. This indicates a positive market response, as investors show confidence in the company’s potential. The IPO is available for subscription for retail investors and HNIs, who are eyeing a stake in the renewable energy sector.
Solarium Green Energy IPO GMP Trends
In the grey market, the unlisted shares of Solarium Green Energy were seen trading flat on February 10, according to sources tracking grey market activity. This suggests that while the company is drawing interest, it may not yet exhibit substantial premium trading, as reflected in the absence of an uptick in grey market trading. Investors will closely watch whether the grey market premium (GMP) rises in the final days before the listing, giving further insights into the listing price.
Expected Allotment and Listing Dates
The basis of allotment for the Solarium Green Energy IPO shares is expected to be finalized on February 11, 2025. Successful applicants will likely have their shares credited to their demat accounts by February 12, 2025. The listing date for the Solarium Green Energy IPO is tentatively set for February 13, 2025, and the stock will be listed on the BSE SME platform. Investors are eagerly anticipating the listing, and any potential listing gains will be the focus in the coming days.
Solarium Green Energy Financial Plans and Purpose of the IPO
The company plans to utilize the funds raised through the IPO for several purposes, including meeting working capital requirements and general corporate purposes. According to the Red Herring Prospectus (RHP), Solarium Green Energy raised ₹29.85 crore from anchor investors in the process completed on February 5, 2025. The proceeds from the IPO will support the company’s ongoing operations and expansion plans as it continues to capitalize on opportunities in the renewable energy sector.
Company Overview: Solarium Green Energy’s Operations
Founded in 2015, Solarium Green Energy has been providing innovative solar solutions for various sectors. The company specializes in turnkey EPC (Engineering, Procurement, and Construction) contracts, covering everything from site assessment to warranties. Solarium Green Energy offers a range of services, including design, engineering, procurement, construction, and maintenance for solar projects. Additionally, the company supplies key solar products like photovoltaic (PV) modules, inverters, and meters.
The company operates across multiple sectors, providing clean energy solutions to clients, including businesses, governments, and residential projects. This expanding market is crucial for the company’s future, as the global demand for renewable energy solutions continues to grow.
Solarium Green Energy IPO and Market Sentiment
The Solarium Green Energy IPO has generated significant interest in the renewable energy sector, reflecting the growing optimism about green energy investments. The company’s focus on providing solar energy solutions positions it well within the rapidly expanding clean energy market, where demand is anticipated to increase in the coming years.
While the IPO has garnered a strong response, it remains to be seen whether the listing will offer substantial listing gains for investors, as the GMP remains flat as of Day 3. Investors should keep an eye on the upcoming allotment and listing date for updates on the final performance of the IPO.
