Solar91 Cleantech Limited (BSE SME)

Jan 1, 2024 - Jan 3, 2024

Premium	₹100
Price	₹185 - ₹195
Lot size	600
Allotment	Jan 5, 2024
Listing	Jan 9, 2024

Category	Lot(s)	Qty	Amount	Reserved
Retail	1	600	117000	0
HNI	2	1200	234000	0

About

Solar91 Cleantech IPO Details

Issue Size	54,36,000 shares (aggregating up to ₹[106] Cr)
Fresh Issue	54,36,000 shares (aggregating up to ₹ [.] Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE SME
Share Holding Pre Issue	1,50,77,809 shares
Share Holding Post Issue	2,05,13,809 shares
Market Maker Portion	3,04,800shares Prabhat Financial Services Ltd.

Solar91 Cleantech IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Issue
NII (HNI) Shares Offered	Not less than 15% of the Net Issue

Key Performance Indicator

KPI	Sep-24	Mar-24	Mar-23
ROE	14.70%	49.51%	8.62%
ROCE	16.44%	25.81%	8.77%
RONW	14.70%	49.51%	8.62%
EPS (basic)	2.83	2.17	0.2

Company Financials In Lakhs

Period	Sep-24	Mar-24	Mar-23	Mar-22
Assets	5,247	2,495	1,299	954
Revenue	5,054	4,297	3,767	4,201
Profit	400	236	20	32
Net Worth	2,843	472	236	131
Reserves	1,336	470	234	129
Borrowing	1,196	1,085	776	226

About Company

Incorporated in 2015, Solar91 Cleantech Limited provides Engineering, Procurement, and Construction (EPC) solar energy solutions to commercial and industrial customers, helping reduce power consumption through renewable energy systems. The company primarily focuses on distributed renewable energy markets, offering rooftop solar solutions for industrial, commercial, and residential sectors, along with open access, group captive solutions, agro PV, and distributed solar investment opportunities. Expanding its presence, Solar91 is developing its own solar projects under the Independent Power Producer (IPP) model and actively participating in the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM Kusum) Scheme, aimed at solarizing agricultural feeders. Recognized as an industry leader both in Rajasthan and nationally within the Commercial and Industrial Solar PV sector, the company has received multiple awards for its contributions to renewable energy.

Lead Manager(s)

Narnolia Financial Services Ltd

Strength

Wide Geographic Reach: Operates across diverse regions, reducing risks and capturing opportunities in both emerging and established markets.

Innovative Cluster-Based Model: Optimizes resource allocation and project efficiency in solar EPC and IPP operations, ensuring scalability and flexibility.

Strong Order Book: A robust revenue pipeline supported by favorable renewable energy policies drives growth and profitability.

Weakness

First-Generation Promoters: Limited legacy experience may pose challenges in navigating industry complexities and scaling operations.

Leased Business Premises: Dependence on leased premises could lead to operational disruptions if lease agreements are not renewed or terminated.

Key Personnel Dependency: Reliance on Directors and Key Managerial Personnel means their loss could significantly impact the company’s performance and strategic direction.

Registrar

Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues