The Solar91 Cleantech IPO is scheduled to open in 2025 and will close in the same year. This IPO is a Book Built Issue, through which the company aims to raise approximately ₹106 crores. The issue consists of a fresh issue of ₹106 crores and an offer for sale of up to [.] equity shares, each with a face value of ₹10.
The price band for the Solar91 Cleantech IPO is ₹185 to ₹195 per share. The retail quota is 35%, the Qualified Institutional Buyer (QIB) quota is 50%, and the High Net-worth Individual (HNI) quota is 15%. The IPO will be listed on the BSE in 2025, with the allotment date also set for the same year.
In terms of financial performance, Solar91 Cleantech reported a revenue of ₹42.97 crores in 2024, compared to ₹37.67 crores in 2023. The company’s profit for 2024 stood at ₹2.36 crores, a notable increase from ₹0.20 crores in 2023. Given the positive financial growth, investors are encouraged to consider applying for the IPO with a long-term perspective.
Solar91 Cleantech IPO Details
- IPO Open Date: 2025
- IPO Close Date: 2025
- Face Value: ₹10 per equity share
- IPO Price Band: ₹185 to ₹195 per share
- Issue Size: Approximately ₹106.00 crores
- Fresh Issue: Approximately ₹106.00 crores
- Issue Type: Book Built Issue
- IPO Listing: BSE SME
- Retail Quota: Up to 35%
- QIB Quota: Up to 50%
- NII Quota: Up to 15%
- DRHP Draft Prospectus: [Click Here]
- RHP Draft Prospectus: [Click Here]
Solar91 Cleantech IPO Market Lot Details
The minimum market lot for the Solar91 Cleantech IPO consists of 600 shares, requiring an application amount of ₹1,17,000. Below is a breakdown of the lot sizes and corresponding investment amounts:
| Category | Lot Size | Number of Shares | Application Amount |
|---|---|---|---|
| Retail Minimum | 1 | 600 | ₹1,17,000 |
| Retail Maximum | 1 | 600 | ₹1,17,000 |
| S-HNI Minimum | 2 | 1,200 | ₹2,34,000 |
Solar91 Cleantech IPO Important Dates
The Solar91 Cleantech IPO will open and close in 2025. The allotment of shares will be finalized in 2025, and the listing on the stock exchange is scheduled for 2025. Here are the key dates:
- IPO Open Date: 2025
- IPO Close Date: 2025
- Basis of Allotment: 2025
- Refunds: 2025
- Credit to Demat Account: 2025
- IPO Listing Date: 2025
Promoters of Solar91 Cleantech IPO
The promoters of Solar91 Cleantech are:
- Mr. Prateek Agrawal
- Mr. Saurabh Vyas
- Mr. Sandeep Gurnani
- Mr. Dhawal Gaurang Vasavada
About Solar91 Cleantech IPO
Solar91 Cleantech Limited, founded in 2015 and based in Jaipur, is a leading player in the solar energy sector. The company is committed to promoting a sustainable and brighter future through the use of solar energy. They offer tailored solar solutions for residential, commercial, and industrial sectors, ensuring each client receives the right fit for their needs.
Solar91 Cleantech provides a range of services under the Engineering, Procurement, and Construction (EPC) model, from installation to ongoing maintenance. Their tagline, “Energy Independence,” emphasizes the potential for customers and businesses to reduce their reliance on conventional energy sources like coal, oil, and natural gas.
The company is known for its reliable, high-quality solar solutions that adhere to industry standards, ensuring excellent value for its customers. With a team of skilled and knowledgeable professionals, Solar91 Cleantech is well-equipped to handle solar energy projects of all sizes.
In 2024, the company reported a revenue of ₹5,053.51 lakh and a profit of ₹400.01 lakh.
Solar91 Cleantech IPO Company Financial Report
Solar91 Cleantech reported a revenue of ₹42.97 crores in 2024, showing an increase from ₹37.67 crores in 2023. The company’s profit for 2024 was ₹2.36 crores, a significant rise from ₹0.20 crores in 2023.
Here is a detailed financial overview of the company:
| Period Ended | Revenue (₹ in Crores) | Expense (₹ in Crores) | Profit After Tax (₹ in Crores) | Assets (₹ in Crores) |
|---|---|---|---|---|
| 2022 | ₹42.01 | ₹41.57 | ₹0.32 | ₹9.54 |
| 2023 | ₹37.67 | ₹37.40 | ₹0.20 | ₹12.99 |
| 2024 | ₹42.97 | ₹39.84 | ₹2.36 | ₹24.95 |
| September 2024 | ₹50.54 | ₹45.27 | ₹4.00 | ₹52.47 |
Solar91 Cleantech IPO Valuation – FY2024
Here are the key valuation metrics for Solar91 Cleantech IPO for FY2024:
| KPI | Values |
|---|---|
| Return on Equity (ROE) | 49.51% |
| Return on Capital Employed (ROCE) | 25.81% |
| EBITDA Margin | 9.00% |
| Profit After Tax (PAT) Margin | 5.46% |
| Debt to Equity Ratio | 2.30 |
| Earnings Per Share (EPS) | ₹2.17 (Basic) |
| Price/Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 49.51% |
| Net Asset Value (NAV) | ₹3,047.22 |
Peer Group Comparison
Here is a comparison of Solar91 Cleantech with its peers:
| Company | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | Income (₹ in Crores) |
|---|---|---|---|---|---|
| Oriana Power Limited | 33.93 | 65.10 | 36.47 | 7.88 | 55.13 |
| Waaree Renewable Technologies Ltd | 14.30 | 95.30 | 57.43 | 12.45 | 148.94 |
Objects of the Issue
The proceeds from the issue will be used for the following purposes:
- To fund investments in a subsidiary for the development of solar projects as an Independent Power Producer (IPP).
- To meet the working capital requirements of the company.
- To cover general corporate purposes.
Solar91 Cleantech IPO Review
The following financial institutions and brokers have provided their reviews for the Solar91 Cleantech IPO:
- Canara Bank
- DRChoksey FinServ
- Emkay Global
- Hem Securities
- IDBI Capital
- Marwadi Shares
- Nirmal Bang
- SBICAP Securities
- Sharekhan
- SMC Global
- Sushil Finance
- Swastika Investmart
- Ventura Securities
- Geojit
- Reliance Securities
- Capital Market
- BP Wealth
- ICICIdirect
- Choice Broking
Solar91 Cleantech IPO Registrar
The registrar for the Solar91 Cleantech IPO is:
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: Maashitla Allotment Status
IPO Lead Manager (Merchant Banker)
- Narnolia Financial Services Ltd
Company Address
Solar91 Cleantech Limited
Plot No. D-802,
Sector-5,
Malviya Nagar, Jaipur 302017
Phone: +91 805 8300 034
Email: info@solar91.com
Website: www.solar91.com
Solar91 Cleantech IPO FAQs
What is Solar91 Cleantech IPO?
Solar91 Cleantech IPO is an SME IPO where the company aims to raise ₹106 Crores. The issue price is set between ₹185 to ₹195 per equity share, and the IPO will be listed on BSE.
When will the Solar91 Cleantech IPO open for subscription?
The IPO will open in 2025 for QIB, NII, and Retail Investors, and will close in 2025.
What is the Solar91 Cleantech IPO Investors’ Portion?
The allocation for investors is as follows:
- QIB: 50%
- NII: 15%
- Retail: 35%
How to Apply for the Solar91 Cleantech IPO?
You can apply for the Solar91 Cleantech IPO via ASBA online through your bank account. You can also apply via UPI through your stockbroker, or by filling out the offline form through your stockbroker.
What is the Solar91 Cleantech IPO Issue Size?
The issue size for the Solar91 Cleantech IPO is ₹106 Crores.
What is the Solar91 Cleantech IPO Price Band?
The price band for the IPO is ₹185 to ₹195 per share.
What is the Solar91 Cleantech IPO Lot Size?
The minimum bid size is 600 shares, with an application amount of ₹1,17,000.
What is the Solar91 Cleantech IPO Allotment Date?
The IPO allotment date is in 2025.
What is the Solar91 Cleantech IPO Listing Date?
The IPO listing date is in 2025, and it will be listed on BSE.
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