Solar91 Cleantech Limited IPO GMP Price Date Details
In the ever-evolving environment, when it comes to renewable energy, India is not far behind, one of the examples, is a company called Solar91 Cleantech Limited. Founded in 2015 by different IIT graduates, the company has quickly risen to become one of the leading solar energy solution providers specializing in catering for the business and industrial sectors. Their mission is clear: to provide sustainable clean energy solutions to businesses to decrease reliance on current conventional energy and promote a sustainable environment.
Solar91 Cleantech Limited : Company Overview
Solar91 Cleantech Limited offers Solar Engineering, Procurement service, and Construction service from the EPC business segment. Their offer include the installation of solar electric solutions for grid connect and stand alone systems. Due to the excellent technology and the best practices, each and every project implemented in Solar91 is highly professional, fast and environmentally friendly.
And while EPC is the segment they offer, Solar91 is moving more towards becoming an IPP – an Independent Power Producer. This strategic shift entails the establishment of the company owned and operated specific solar power project under the SPV model. Through Power Purchase Agreement with distribution companies, and power sale agreement with wind and solar manufacturing companies, the company intends to establish a good revenue stream, which would enhance the stability of the firm in the power production line of business.
Services and Solutions:
Rooftop EPC Solutions: Solar91 is into providing integrated end to end solutions for installation of rooftop solar systems and includes Design, Buy and Build for efficient utilization of solar energy by clients.
Ground-Mounted EPC: The company offers solar power plant installation on ground mounting systems, as per the client’s requirement for power.
RESCO Projects: Solar91 participates in the RESCO model where it covers the cost of installing solar power to clients without asking for any direct payments but getting paid by use.
EPC Solar Energy Solutions: Engineering and installation of flexible solar power solutions for businesses and other organizations.
IPP Model Projects: Investing and operating own photovoltaic power stations, signing PPAs with electric distribution companies and selling the generated electricity.
Recent Projects:
Rooftop EPC Services with N P Agro: Laid down a 1,950 kW solar project in Bareilly city in the state of Uttar Pradesh.
Rooftop EPC Services with Lumax Industries: Carried out a 1,258 kW installation in the city of Pune, in the Indian state of Maharashtra.
Ground-Mounted EPC Services with Modern Insulators: A 3 MW project in Abu Road Rajasthan was done.
Financial Performance of Solar91 Cleantech Limited
The company’s financials of Solar91 Cleantech Limited are presented below and obviously indicate a healthy financial performance due to sound business strategies and effective operations. Here’s a detailed look at the company’s financial performance over the last few years:
Revenue Growth
FY23 (2022-2023): ₹3,766.95 lakhs
FY24 (2023-2024): ₹4281.15 Lakhs (an increase of 14.1% from the FY 23)
H1 FY25 (First Half of 2024-2025): ₹5,053.51 lakhs (this is now more than the FY 24 revenue for the half year of July to December only ).
Profit After Tax (PAT)
FY23: ₹20.33 lakhs
FY24: ₹235.81 lakhs with an increase of 1059% from the FY23.
H1 FY25: ₹400.01 lakhs (FY25 up to six months growth 69.6% than FY24).
Net Worth
FY23: ₹235.68 lakhs
FY24: ₹905,250 of which ₹471.50 Lakhs (A Growth of 99.9 % compared to FY23)
H1 FY25: Rs. 2843.35 lakhs (502.9 percent increase than the FY24 in six months).
Earnings Per Share (EPS)
FY23: ₹0.16 per share
FY24: ₹1.79 per share
H1 FY25: ₹3.04 per share
Debt-to-Equity Ratio
FY23: 1.2
FY24: 0.8 (due to an increase in equity by fresh entrants and better management of funds)
Key Highlights of Financial Performance
- Revenue Surge:
Year on year revenue of the Solar91 is impressive due to increased operation, efficiency attained on EPC projects and conversion of Solar91 new generation IPP model.
- Profitability Increase:
The growth demonstrated in the PAT increases awareness of the ability of the company and its performance in operation and profitability.
- Strengthened Balance Sheet:
Solar91 has expanded its net worth as it proves that the company stands in a strategic financial position and develops share holder value.
- Operational Scalability:
The company has implemented projects in thirteen states making it capable of expanding operations while keeping costs under control.
Future Financial Projections
- Revenue Growth: More new 155 MW solar projects under PM Kusum Scheme and incorporation of the IPP model will continue to generate two-digit numbers growth in the revenue.
- Profit Margins: Further anticipated to rise through increasing economies of scale, reduced external funding, and preference from the government.
- Net Worth: Anticipated to rise with the proceeds from the IPO and reinvestment into more and more attractive solar based projects.
Solar91 Cleantech Limited IPO GMP Price Date Details
Solar91 Cleantech Limited is one of the leading firms in the renewable energy segment of India, and it plans to go for the IPO to mobilise about ₹ 106 crore. Below are the key details of the upcoming IPO:
Pricing Information:
- Face Value: ₹10 per equity share
- Price Band: ₹185 to ₹195 per equity share
- Lot Size: 600 shares
Offer Structure:
- Total Issue Size: 54,36,000 Equity Shares , for an amount up to ₹. 106 Crores
- Fresh Issue: 54,36,000 equity shares which cost up to ₹106 crores.
Investor Categories and Reservations:
- Qualified Institutional Buyers (QIBs): 50% of the Net Offer
- Retail Investors: 35% of the Net Offer
- Non-Institutional Investors (NIIs): 15% of the Net Offer
Solar91 Cleantech Limited IPO Details
IPO Date | December 24, 2024 to December 27, 2024 |
Listing Date | [.] |
Face Value | ₹10 per share |
Price Band | ₹185 to ₹195 per share |
Lot Size | 600 Shares |
Total Issue Size | 54,36,000 shares (aggregating up to ₹106.00 Cr) |
Fresh Issue | 54,36,000 shares (aggregating up to ₹ 106.00 Cr) |
Issue Type | Book Built Issue IPO |
Listing At | BSE SME |
Share Holding Pre Issue | 1,50,77,809 shares |
Share Holding Post Issue | 2,05,13,809 shares |
Market Maker Portion | 3,04,800 shares |
Solar91 Cleantech IPO Key Dates:
- Opening Date: December 24, 2024 (Tuesday)
- Closing Date: December 27, 2024 (Friday)
- Listing Date: January 1, 2025 (Wednesday)
Solar91 Cleantech Limited IPO Dates and Timeline
IPO Open Date | Tuesday, December 24, 2024 |
IPO Close Date | Friday, December 27, 2024 |
Basis of Allotment | Monday, December 30, 2024 |
Initiation of Refunds | Tuesday, December 31, 2024 |
Credit of Shares to Demat | Tuesday, December 31, 2024 |
Listing Date | Wednesday, January 1, 2025 |
Cut-off time for UPI mandate confirmation | 5 PM on December 27, 2024 |
Solar91 Cleantech IPO Lot Allocation
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 600 | ₹1,17,000 |
Retail (Max) | 1 | 600 | ₹1,17,000 |
HNI (Min) | 2 | 1,200 | ₹2,34,000 |
Solar91 Cleantech Limited IPO GMP
As of December 20, 2024, the Solar91 Cleantech Limited IPO GMP ( Grey Market Price) is ₹55. This suggests that the shares are expected to list at approximately ₹250 per share, indicating a potential premium over the issue price.
Investment Considerations
The IPO from Solar91 Cleantech is an opportunity to get involved with business on the sunny side of India’s solar revolution. In particular, the company’s healthy balance sheet, a new focus on the IPP model, and sustainable business development strategy will be of interest to those investors who consider investing in clean energy projects. However, the prospective investors should research the organization of their interest embracing various factors including the level of competition, legal frameworks, and the organization’s strategic development plans.
Conclusion
The case altogether exemplifies technological dynamism and innovation that Solar91 Cleantech Limited brings into India’s renewable energy market. In terms of financial growth, it offers a rich list of services, and looking at the company’s further development and goals, these figures prove that it will be able to provide great advancements for the nation’s clean energy. Realizing that the more info about Solar91 the better they will be prepared for the upcoming IPO, the stakeholders as well as investors will be closely watching this company’s development.
Also Read : Asian Paints Share Price 2025 : Analysis
FAQ'S
What is Solar91 Cleantech Limited IPO ?
Solar91 Cleantech Limited IPO is the public offering of shares by Solar91 Cleantech Limited, a company specializing in solar energy solutions.
What is the issue size of Solar91 Cleantech Limited IPO ?
The IPO aims to raise ₹106 crore through the issuance of 5,436,000 equity shares.
What is the price band for Solar91 Cleantech IPO ?
The price band for the IPO is set between ₹185 and ₹195 per share .
What are the key dates for the Solar91 Cleantech Limited IPO ?
IPO Opening Date: December 24, 2024
IPO Closing Date: December 27, 2024
Basis of Allotment Date: December 30, 2024
Listing Date: January 1, 2025
