The Solar91 Cleantech IPO is set to open in 2024 and will close in 2024. 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 allocation is as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs). The IPO is expected to list on the BSE in 2024, with the allotment date scheduled for 2024.
In terms of financial performance, the company reported a revenue of ₹42.97 crores in 2024, up from ₹37.67 crores in 2023. The profit for 2024 stood at ₹2.36 crores, compared to ₹0.20 crores in 2023. Based on these financials, investors are advised to consider applying for the IPO with a long-term investment perspective.
Solar91 Cleantech IPO Details
- IPO Open Date: 2024
- IPO Close Date: 2024
- 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 is 600 shares, with an application amount of ₹1,17,000.
| Application | Lot Size | Shares | 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 Dates
The Solar91 Cleantech IPO will open on December 24 and close on December 27. The allotment will be finalized on December 30, with the IPO listing scheduled for January 1.
| Event | Date |
|---|---|
| IPO Open Date | December 24, 2024 |
| IPO Close Date | December 27, 2024 |
| Basis of Allotment | December 30, 2024 |
| Refunds | December 30, 2024 |
| Credit to Demat Account | December 30, 2024 |
| IPO Listing Date | January 1, 2025 |
Promoters of Solar91 Cleantech IPO
The promoters of Solar91 Cleantech are Mr. Prateek Agrawal, Mr. Saurabh Vyas, Mr. Sandeep Gurnani, and Mr. Dhawal Gaurang Vasavada.
About Solar91 Cleantech IPO
Solar91 Cleantech Limited, founded in 2015 and based in Jaipur, operates in the solar energy sector. The company is committed to promoting a sustainable and brighter future through solar energy. Solar91 offers tailored solar solutions for residential, commercial, and industrial sectors. Their services include Engineering, Procurement, and Construction (EPC), covering everything from installation to maintenance.
The company’s motto, “Energy Independence,” emphasizes reducing reliance on coal, oil, and natural gas. Solar91 Cleantech provides high-quality, reliable solar solutions that adhere to industry standards, ensuring customers receive excellent value. The company also boasts a skilled and knowledgeable team to manage solar energy projects.
In 2024, Solar91 Cleantech 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, an increase from ₹37.67 crores in 2023. The company’s profit for 2024 stood at ₹2.36 crores, a significant rise from ₹0.20 crores in 2023.
Financial Summary (₹ in Crores)
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
|---|---|---|---|---|
| 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:
| 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
| Company | EPS | P/E Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Oriana Power Limited | ₹33.93 | 65.10 | 36.47 | ₹7.88 | ₹55.13 Cr. |
| Waaree Renewable Technologies Limited | ₹14.30 | 95.30 | 57.43 | ₹12.45 | ₹148.94 Cr. |
Objects of the Issue
- 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
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Solar91 Cleantech IPO Registrar
- Maashitla Securities Private Limited
- Phone: +91-11-45121795-96
- Email: ipo@maashitla.com
- Website: Maashitla IPO Allotment Status
IPO Lead Managers (Merchant Bankers)
- 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: Solar91 Cleantech
FAQs for Solar91 Cleantech IPO
- What is Solar91 Cleantech IPO?
- Solar91 Cleantech IPO is an SME IPO through which the company plans to raise ₹106 Crores. The issue price is ₹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 2024 for QIB, NII, and retail investors and will close in 2024.
- What is the Solar91 Cleantech IPO investors’ portion?
- The allocation for investors is as follows:
- QIB: 50%
- NII: 15%
- Retail: 35%
- The allocation for investors is as follows:
How to apply for the Solar91 Cleantech IPO?
You can apply for the IPO through ASBA online via your bank account or via UPI through your stock broker. You can also apply offline by filling out the form through your stock broker.
- What is the Solar91 Cleantech IPO issue size?
- The issue size of 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 is for 600 shares, with an application amount of ₹1,17,000.
- What is the Solar91 Cleantech IPO allotment date?
- The allotment date for the IPO is in 2024.
- What is the Solar91 Cleantech IPO listing date?
- The IPO will be listed on BSE in 2024.
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