Solar91 Cleantech IPO Details: Comprehensive Overview
Solar91 Cleantech Limited, a solar energy solutions provider, is set to launch its Initial Public Offering (IPO) in 2024. This IPO, structured as a Book Built Issue, aims to raise ₹106 crores. Here’s a detailed breakdown of the IPO, company performance, financials, and allotment details.
Key Details of Solar91 Cleantech IPO
- IPO Open Date: 2024
- IPO Close Date: 2024
- Face Value: ₹10 per equity share
- Price Band: ₹185 – ₹195 per share
- Issue Size: Approximately ₹106 crores (entirely fresh issue).
- Listing Platform: BSE SME
The IPO has attracted attention due to Solar91’s steady growth, innovative solutions, and focus on sustainability.
Investor Quotas
- Retail Investors: 35%
- Qualified Institutional Buyers (QIBs): 50%
- Non-Institutional Investors (HNIs): 15%
Solar91 Cleantech Financial Performance
The company has showcased significant improvement in revenue and profitability, indicating strong business potential.
| Year | Revenue (₹ Cr) | Profit (₹ Cr) |
|---|---|---|
| 2023 | ₹37.67 | ₹0.20 |
| 2024 | ₹42.97 | ₹2.36 |
| September 2024 | ₹50.54 | ₹4.00 |
This reflects the company’s ability to scale and generate value effectively.
Key Dates for Solar91 Cleantech IPO
| Event | Date |
|---|---|
| IPO Open Date | 2024 |
| IPO Close Date | 2024 |
| Basis of Allotment | 2024 |
| Refunds Initiation | 2024 |
| Credit to Demat Accounts | 2024 |
| Listing Date | 2024 |
Market Lot and Investment Details
- Minimum Lot Size: 600 shares
- Minimum Investment Amount: ₹1,17,000
- HNI Minimum Lot Size: 1,200 shares
Market Lot Table:
| Category | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 600 | ₹1,17,000 |
| HNI Minimum | 2 | 1,200 | ₹2,34,000 |
Objectives of the Issue
The funds raised through the IPO will be allocated as follows:
- Development of solar projects as an Independent Power Producer (IPP).
- Meeting working capital requirements.
- General corporate purposes.
About Solar91 Cleantech
Solar91 Cleantech Limited, headquartered in Jaipur and founded in 2015, is a key player in the solar energy sector. The company focuses on providing sustainable, customized solar solutions for residential, commercial, and industrial applications.
Key Offerings Include:
- Engineering, Procurement, and Construction (EPC): Turnkey solutions for solar installations.
- Energy Independence: Helping businesses and individuals reduce reliance on fossil fuels.
With a highly skilled team, Solar91 ensures top-notch services, from project design to post-installation maintenance.
Valuation Metrics (FY 2024)
| Metric | Value |
|---|---|
| Return on Equity (ROE) | 49.51% |
| Return on Capital Employed (ROCE) | 25.81% |
| EBITDA Margin | 9.00% |
| PAT Margin | 5.46% |
| Debt-to-Equity Ratio | 2.30 |
| Earning Per Share (EPS) | ₹2.17 |
| Net Asset Value (NAV) | ₹3,047.22 |
Peer Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income (₹ Cr) |
|---|---|---|---|---|---|
| Oriana Power Limited | 33.93 | 65.10 | 36.47 | ₹7.88 | ₹55.13 |
| Waaree Renewable Technologies Limited | 14.30 | 95.30 | 57.43 | ₹12.45 | ₹148.94 |
Promoters
The promoters of Solar91 Cleantech IPO are:
- Mr. Prateek Agrawal
- Mr. Saurabh Vyas
- Mr. Sandeep Gurnani
- Mr. Dhawal Gaurang Vasavada
Lead Managers (Merchant Bankers)
- Narnolia Financial Services Ltd
IPO Registrar
Maashitla Securities Private Limited
- Phone: +91-11-45121795-96
- Email: ipo@maashitla.com
- Website: Maashitla Securities IPO Portal
How to Apply for Solar91 Cleantech IPO
Investors can apply for the IPO through:
- ASBA (Application Supported by Blocked Amount): Online application via bank accounts.
- UPI Payment: Available through stockbroker platforms.
- Offline Applications: Through stockbrokers or agents.
Solar91 Cleantech IPO FAQs
1. What is Solar91 Cleantech IPO price band?
The IPO price band is ₹185 to ₹195 per share.
2. What is the IPO issue size?
The total issue size is approximately ₹106 crores, entirely from a fresh issue.
3. What is the minimum investment required?
The minimum investment is ₹1,17,000 for one lot of 600 shares.
4. How to apply for the IPO?
Investors can apply online via ASBA or through UPI-enabled stockbroker platforms.
5. When will the IPO list?
The IPO is expected to list on the BSE SME platform in 2024.
Note: All dates and details are subject to change. Stay tuned for updates and announcements.
Summary of Solar91 Cleantech IPO
Solar91 Cleantech Limited, a Jaipur-based solar energy solutions provider, is launching its IPO in 2024. The company aims to raise ₹106 crores via a Book Built Issue with a price band of ₹185 – ₹195 per share. The IPO will list on the BSE SME platform.
Key Highlights
- Issue Size: ₹106 crores (entirely fresh issue).
- Face Value: ₹10 per equity share.
- Market Lot: 600 shares (minimum investment ₹1,17,000).
- Investor Quotas:
- Retail: 35%
- QIB: 50%
- HNI: 15%
Financial Performance
| Year | Revenue (₹ Cr) | Profit (₹ Cr) |
|---|---|---|
| 2023 | ₹37.67 | ₹0.20 |
| 2024 | ₹42.97 | ₹2.36 |
| Sep 2024 | ₹50.54 | ₹4.00 |
The company has demonstrated consistent growth in revenue and profitability, showcasing its strong potential.
Objectives of the IPO
- Investment in solar projects as an Independent Power Producer (IPP).
- Meeting working capital requirements.
- General corporate purposes.
How to Apply
Investors can apply via:
- ASBA Online: Through their bank accounts.
- UPI Payments: Via stockbroker platforms.
- Offline Applications: Through brokers or agents.
Promoters
- Mr. Prateek Agrawal
- Mr. Saurabh Vyas
- Mr. Sandeep Gurnani
- Mr. Dhawal Gaurang Vasavada
Conclusion
With its focus on sustainability and an experienced team, Solar91 Cleantech IPO is an appealing opportunity for long-term investors. Keep an eye on official updates regarding the IPO.