Solarium Green Energy Limited (BSE SME)

Feb 6, 2025 - Feb 10, 2025

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IPO Reservation

Investor Category	Shares Offered	No. of Shares
Retail	33.18%	1824600
NII (HNI)	14.23%	782400
Anchor	28.42%	1563000
QIB	18.96%	1042800
Market Maker	5.21%	286800
Total	100.00%	5499600

Solarium Green IPO Details

Company Financials In Crores

Period Ended	Sep-24	Mar-24	Mar-23	Mar-22
Assets	95	77	44	32
Revenue	82	178	99	168
Profit After Tax	8	16	2	2
Net Worth	33	20	5	3
Reserves and Surplus	18	17	2
Total Borrowing	33	31	27	15

About Company

Solarium Green Energy Limited, incorporated in 2015, is engaged in providing turnkey solar solutions, including design, engineering, procurement, construction, testing, commissioning, transmission systems, and Operation & Maintenance (O&M) for residential, commercial, industrial, and government solar projects. The company operates under a dual business model: Turnkey EPC (Engineering, Procurement, and Commissioning) contracts and the sale of solar products. Under its EPC services, Solarium Green Energy manages site assessment, technology evaluation, engineering, supply chain management, construction, logistics, manpower, financial planning, and warranties. It offers residential rooftop solar installations, commercial and industrial (C&I) rooftop and ground-mounted projects, and executes government tenders for renewable energy systems, including hybrid and grid-connected solutions. The company also supplies solar products such as PV modules, inverters, and ABT meters, procuring from accredited vendors, and has previously manufactured polycrystalline solar modules for turnkey projects and direct client supply. Over the past three years, Solarium Green Energy has completed 11,195 residential, 172 commercial and industrial, and 17 government solar projects. As of September 30, 2024, the company employs 253 people.

Beeline Capital Advisors Pvt Ltd 

Scaled and Integrated Operations – Solarium Green Energy provides end-to-end renewable energy solutions, from design and engineering to procurement, construction, and maintenance, ensuring seamless project execution.

Diversified Portfolio with Strong Domestic Presence – The Company operates across residential, commercial, industrial, and government segments, offering rooftop, ground-mounted, and hybrid solar solutions across India.

Strong Customer and Supplier Relationships – Long-standing partnerships with accredited vendors and a proven track record of successful projects enhance reliability and market credibility.

Geographical Concentration Risk – A significant portion of the company’s revenue depends on operations in Gujarat, making it vulnerable to regional economic or regulatory changes.

Regulatory Uncertainty – Changes in government policies, such as the Approved List of Modules and Manufacturers (ALMM) by the Ministry of New & Renewable Energy, have previously impacted operations and could affect future business and financial stability.

Client Dependency – A large portion of revenue comes from a limited number of customers, with the top 10 clients contributing significantly. The loss of any key customer could negatively impact cash flows and overall financial performance.