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Solarium Green IPO
Price Band
₹181.0–191.0
Issue Size
₹105.04 Cr
Lot Size
600 shares
Min Investment
₹114,600
GMP
+₹5.0 (2.62%)
Issue Price
₹191.0
Subject to Sauda
₹2300
Paid only if allotted
Solarium Green IPO AI Summary
- Solarium Green IPO is listed on BSE SME.
- Price band: ₹181.0–₹191.0 per share, lot size 600 shares (min. investment ₹114,600).
- Subscription window: 06 Feb–10 Feb 2025, listing on 13 Feb 2025.
- Current GMP is +₹5.0 (2.62%), an estimated listing price of ₹196 — unofficial and can change daily.
Solarium Green Energy Limited is an SME IPO focused on providing comprehensive solar solutions. With a strong operational model and a track record of completed projects, the company aims to raise funds to enhance its working capital and support corporate objectives.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Solarium Green IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 10 Feb 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Solarium Green IPO Grey Market Premium (GMP) Today
GMP
+₹5.0
GMP %
+2.62%
Est. Listing
₹196.0
Updated: 25 Jul 2026 14:30
About the Company
Incorporated in 2015, Solarium Green Energy Limited is engaged in the business of Solar Solutions. The company provides turnkey solar solutions, including design, engineering, procurement, construction, testing, commissioning, transmission systems, and Operation & Maintenance for residential, commercial, industrial, and government solar projects. The company offers turnkey EPC (Engineering, Procurement, and Commissioning) contracts, covering site assessment, technology evaluation, engineering, supply chain management, construction, logistics, manpower, financial planning, and warranties for solar projects. Business Model: Turnkey Solutions for Solar Projects: The company provides residential rooftop solar installations, C& rooftopand ground-mounted projects, and government tenders for various renewable energy systems, including hybrid solutions and grid-connected installations. Sale of Solar Products: The company supplies solar products, including PV modules, inverters, and ABT meters, procure items from accredited vendors, and previously manufactured polycrystalline solar modules for turnkey projects and direct client supply. The company has completed 11,195 residential, 172 Commercial and Industrial, and 17 government solar projects in the past three years. As of September 30, 2024, the company employs 253 people. Competitive Strengths: Scaled and integrated operations for renewable energy projects Diversified Portfolio with strong domestic presence Strong relationship with customers and suppliers Experienced management team with industry expertise
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 95.25 | 77.21 | 44.37 | 31.81 |
| Total Income | 82.34 | 177.81 | 98.93 | 167.89 |
| Profit After Tax | 7.55 | 15.59 | 1.74 | 2.05 |
| NET Worth | 33.13 | 20.33 | 4.74 | 3.00 |
| Reserves and Surplus | 17.78 | 17.33 | 1.74 | |
| Total Borrowing | 33.47 | 30.76 | 26.72 | 14.80 |
Key Ratios
EPS
₹10.16
NAV
₹13.55
ROE
124.38%
ROCE
54.18%
RoNW
76.69%
P/B Value
14.10
P/E Ratio
18.81
Market Cap
₹398.23 Cr
PAT Margin
8.79%
Debt/Equity
1.51
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Oriana Power Limited | 76.21 | 37.13% | 22.21 | 33.41 |
| Zodiac Energy Limited | 32.51 | 23.06% | 51.62 | 7.5 |
| Solarium Green Energy Limited This IPO | 13.55 | 76.69% | — | 10.39 |
Promoters
Ankit Garg and Pankaj Vallabhbhai Gothi
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To meet working capital requirements 71.00 2 General Corporate Purposes 25.26 3 Issue Expenses 8.78 Total 105.04
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹98.93 Cr in the year ending 31 Mar 2023, rising to ₹177.81 Cr by 31 Mar 2024, before decreasing to ₹82.34 Cr as of 30 Sep 2024. This last figure is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹1.74 Cr in the year ending 31 Mar 2023, increasing to ₹15.59 Cr by 31 Mar 2024, before declining to ₹7.55 Cr as of 30 Sep 2024. Again, this last figure is for a 9-month period and not directly comparable to the full year.
Valuation
Priced at roughly 18.81 trailing earnings, versus peers trading at 22.21-51.62.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. A positive GMP suggests that the shares are expected to list at a premium to the issue price, while a negative GMP indicates the opposite. Investors often look at GMP to gauge market sentiment about the IPO.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's financial health, market position, and growth potential before making a decision.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid investing in IPOs like this, which can be subject to high volatility and uncertainty in the initial trading period.
IPO Timeline, Explained
The IPO opens for subscription on 6 February 2025 and closes on 10 February 2025. Allotment of shares will be done on 11 February 2025, and the shares are expected to be listed on 13 February 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make by selling shares on the listing day at a higher price than the issue price. However, there is no guarantee of listing gains, as market conditions can fluctuate significantly. Investors should be aware of the risks involved in trading on the listing day.
This evaluation is generated from Solarium Green's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Solarium Green IPO GMP today?
Solarium Green IPO GMP today is +₹5.0 (2.62%), indicating an estimated listing price of ₹196. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Solarium Green IPO?
The price band of Solarium Green IPO is ₹181.0–₹191.0 per share.
When does Solarium Green IPO open and close?
Solarium Green IPO opens on 06 February 2025 and closes on 10 February 2025.
When does Solarium Green IPO list on the stock exchange?
Solarium Green IPO listed on 13 February 2025 at ₹196.0.
What is the lot size for Solarium Green IPO?
The lot size for Solarium Green IPO is 600 shares, requiring a minimum investment of ₹114,600.
What is the lot size for this IPO?
The lot size for Solarium Green's IPO is 600 shares.
What is the minimum investment required?
The minimum investment required is ₹114,600.
What is the price band for the IPO?
The price band for the IPO is ₹181.0 to ₹191.0.
When does the IPO open and close?
The IPO opens on 6 February 2025 and closes on 10 February 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium at which the shares may list on the stock exchange.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
06 Feb 2025
Close
10 Feb 2025
Allotment
11 Feb 2025
Listing
13 Feb 2025
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