Solarium Green Energy IPO Day 1: Check GMP, Subscription Status, Price Band And Other Key Details

Solarium Green Energy Ltd. launched its initial public offering to raise Rs 105.04 crore from the primary market on Feb. 6. The company operates in the solar energy segment. The BSE SME will remain open for bidding till Feb 10. Investors looking to bid in the Solarium Green Energy IPO must check out these key details before applying.

Solarium Green Energy IPO, open for subscription between Feb. 6 and Feb. 10, consists of an entirely fresh issuance of 55 lakh shares. The IPO price band has been set in the range of Rs 181 to Rs 191 at a face value of Rs 10 per share. The total offer size is valued at Rs 105.04 crore at the upper price band.

The company has reserved up to 50% of the net issue size for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors. 

Retail investors can bid in the Solarium Green Energy IPO with a minimum lot size of 600 shares totalling an investment of Rs 1,14,600 at the upper price band. 

Allotment of shares in the Solarium Green Energy IPO will be finalised on Feb. 11, followed by credit of shares into the demat account of successful bidders on Feb. 12. Initiation of refunds for the non-allottees will also be done on the same day. 

Shares of Solarium Green Energy Ltd. are proposed to be listed on the BSE SME platform on Feb. 13.

The company has appointed Beeline Capital Advisors Pvt. as the sole book-running lead manager for Solarium Green IPO whereas Link Intime India Pvt. is the issue's registrar. Spread X Securities Pvt. is the market maker for Solarium Green Energy IPO.

The Solarium Green IPO has been subscribed 0.31 times as of 2:04 p.m. on Thursday.

• Qualified Institutions: nil

• Non-Institutional Buyers: 0.27 times

• Retail Investors: 0.5 times

*The subscription status will be updated at regular intervals

The grey market premium on Solarium Green SME IPO stood at Rs 15 as of 1:28 p.m. on Feb. 6 indicating a potential listing gain of 7.85%, according to InvestorGain. If the current GMP trends are sustained, shares of Solarium Green Ltd. are likely to make their market debut at Rs 206 on the BSE SME. 

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Solarium Green Energy Ltd. is a solar solution provider. The company, incorporated in 2015, offers turnkey solar solutions, including design, engineering, procurement, construction, testing, commissioning and transmission systems government as well as residential projects. 

Solarium Green Energy Ltd. has proposed to use the net proceeds from the IPO to meet its working capital requirements and general corporate purposes.

Solarium Green Energy Ltd. posted a revenue of Rs 82.34 crore in the first half of FY25 with a net profit of Rs 7.55 crore. The company generated revenue of Rs 177.81 crore in FY24 up from Rs 98.93 crore in the previous year. Net profit stood at Rs 15.59 crore in FY24 against Rs 1.74 crore in FY23.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.