In the era of rapid environmental change, renewable energy is no longer just a buzzword but a necessity. Solar91 Cleantech, a leading provider of solar energy solutions, is gearing up for its Initial Public Offering (IPO), offering investors a unique opportunity to be part of the renewable energy revolution. This blog will walk you through everything you need to know about the Solar91 Cleantech IPO, from its business model to financials, IPO details, and what makes this offering a potentially lucrative investment.
About Solar91 Cleantech
Company Overview
Founded in 2015, Solar91 Cleantech is a key player in India’s renewable energy sector. The company specializes in providing end-to-end solar energy solutions to commercial and industrial clients, helping them reduce their energy costs by harnessing the power of renewable energy.
Solar91 operates in three main segments:
- Engineering, Procurement, and Construction (EPC)
- Independent Power Producer (IPP)
- Operations and Maintenance (O&M)
The company has established itself as a leader in the solar energy field, with projects in Rajasthan and Maharashtra, particularly in the agro-processing and textile industries. Solar91 Cleantech offers customized solar power systems that are both grid-connected and off-grid.
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Key Company Details:
- Founded: 2015
- Managing Director: Mr. Prateek Agrawal
- Parent Organization: Solar91 Cleantech Ltd
- Headquarters: Jaipur, Rajasthan, India
With a track record of sustainable growth, Solar91 Cleantech is now poised to expand its reach even further with the upcoming IPO, attracting investors looking to capitalize on the growing demand for green energy.
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Solar91 Cleantech IPO Details
IPO Highlights
The Solar91 Cleantech IPO is one of the most anticipated IPOs in the renewable energy sector in 2024. Here’s a detailed look at the key aspects of the IPO:
| Parameter | Details |
|---|---|
| IPO Opening Date | December 24, 2024 |
| IPO Closing Date | December 27, 2024 |
| Price Band | ₹185 to ₹195 per share |
| Lot Size | 600 Shares |
| Issue Size | ₹106.00 Cr (54,36,000 shares) |
| Listing At | BSE SME |
| Face Value | ₹10 per share |
| Total Issue Size | ₹106.00 Cr (54,36,000 shares) |
| Fresh Issue | ₹106.00 Cr (54,36,000 shares) |
| Market Maker Portion | 3,04,800 shares |
| Pre-Issue Shareholding | 69.75% |
| Post-Issue Shareholding | 51.26% |
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Financials of Solar91 Cleantech
Understanding the financial health of a company is essential for investors. Here’s a snapshot of Solar91 Cleantech’s financials over the past three years:
Revenue (₹ Cr)
| Year | Revenue (₹ Cr) |
|---|---|
| 2022 | ₹41.57 |
| 2023 | ₹37.58 |
| 2024 | ₹42.77 |
Total Assets (₹ Cr)
| Year | Total Assets (₹ Cr) |
|---|---|
| 2022 | ₹9.54 |
| 2023 | ₹12.99 |
| 2024 | ₹24.95 |
Profit (₹ Cr)
| Year | Profit (₹ Cr) |
|---|---|
| 2022 | ₹0.32 |
| 2023 | ₹0.20 |
| 2024 | ₹2.33 |
Solar91 Cleantech’s rising revenue and assets highlight the company’s growth trajectory, with a notable improvement in profits in the recent fiscal year.
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Solar91 Cleantech IPO Lot Size and Investment
The Solar91 Cleantech IPO offers retail and HNI investors an opportunity to invest in the growing renewable energy sector. Here’s the investment breakdown:
| Investor Category | Minimum Application (Shares) | Amount (₹) |
|---|---|---|
| Retail (Min) | 600 | ₹1,17,000 |
| Retail (Max) | 600 | ₹1,17,000 |
| HNI (Min) | 1,200 | ₹2,34,000 |
Investors can bid for a minimum of 600 shares, which translates to an investment of ₹1,17,000. Retail investors can apply for a maximum of 600 shares, while HNI investors can apply for a minimum of 1,200 shares.
Solar91 Cleantech IPO Promoter Holding
The promoters of Solar91 Cleantech are experienced individuals who have been steering the company’s growth since its inception. The following table shows the pre- and post-IPO shareholding structure:
| Shareholding | Pre-Issue (%) | Post-Issue (%) |
|---|---|---|
| Promoters | 69.75% | 51.26% |
| Public | 30.25% | 48.74% |
The post-issue shareholding reflects a reduction in the promoters’ stake, which is typical for companies going public.
Key Performance Indicators (KPIs)
Investors need to assess the company’s financial ratios to understand its profitability, efficiency, and financial health. Here are the key performance indicators (KPIs) for Solar91 Cleantech:
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 0.50% |
| Return on Capital Employed (ROCE) | 25.81% |
| Debt-to-Equity Ratio | 2.30 |
| Return on Net Worth (RoNW) | 49.51% |
| Profit After Tax (PAT) Margin | 5.46% |
Key Takeaways:
- Solar91 Cleantech shows solid profitability with a high ROCE and RoNW.
- The Debt/Equity ratio indicates the company is heavily leveraged, a common feature for growing renewable energy firms.
- The PAT margin of 5.46% shows the company is moving towards stronger profitability.
Solar91 Cleantech IPO Registrar and Contact Details
IPO Registrar:
- Registrar Name: Maashitla Securities Private Limited
- Phone: +91-11-45121795-96
- Email: ipo@maashitla.com
- Website: Maashitla Securities IPO Status
Company Contact:
- Address: Plot No. D-802, Sector-5, Malviya Nagar, Jaipur 302017
- Phone: +91 805 8300 034
- Email: info@solar91.com
- Website: Solar91 Cleantech
Solar91 Cleantech IPO Timeline
Here’s the detailed timeline for the IPO process:
| Event | Date |
|---|---|
| IPO Open Date | December 24, 2024 |
| IPO Close Date | December 27, 2024 |
| Basis of Allotment | December 30, 2024 |
| Initiation of Refunds | December 31, 2024 |
| Credit of Shares to Demat Accounts | December 31, 2024 |
| Listing Date | January 1, 2025 |
| Cut-off Time for UPI Mandate | 5 PM on December 27, 2024 |
Conclusion
Solar91 Cleantech’s IPO presents an excellent opportunity for investors interested in the renewable energy sector. With strong financials, a growing market presence, and a commitment to sustainable energy solutions, Solar91 Cleantech is well-positioned for long-term growth. Whether you are a retail investor or an HNI, the IPO offers a chance to tap into the booming green energy market. Make sure to subscribe early and participate in this exciting offering!
Frequently Asked Questions (FAQs)
What is the IPO price band for Solar91 Cleantech?
The price band for the Solar91 Cleantech IPO is ₹185 to ₹195 per share.
When will the Solar91 Cleantech IPO open and close?
The IPO will open on December 24, 2024, and close on December 27, 2024.
What is the minimum investment required for the Solar91 Cleantech IPO?
The minimum investment for retail investors is ₹1,17,000 for 600 shares.
What is the face value of each share in the Solar91 Cleantech IPO?
The face value of each share is ₹10.
How can I check the allotment status of my IPO application?
You can check the allotment status through the registrar Maashitla Securities’ official website or by contacting them directly.
When will the Solar91 Cleantech shares be listed on the stock exchange?
The listing date for Solar91 Cleantech shares is January 1, 2025.
Investing in Solar91 Cleantech could be your chance to be part of the renewable energy future. Don’t miss out on this promising IPO!