The Solar91 Cleantech IPO is being offered as a book-built issue consisting of 54.36 lakh shares. This issue is entirely a fresh offering of 54.36 lakh shares.
The subscription period for the Solar91 Cleantech IPO is scheduled to begin on December 24, 2024, and will conclude on December 27, 2024. The allotment of shares is expected to be finalized on Monday, December 30, 2024. The IPO is planned to be listed on BSE SME, with the tentative listing date set for Wednesday, January 1, 2025.
The price bands for the Solar91 Cleantech IPO are yet to be announced.
Get the Solar91 Cleantech IPO RHP for detailed information.
| IPO Date | December 24, 2024 to December 27, 2024 |
| Listing Date | January 1, 2025 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 185 to ₹ 195 / Share |
| Lot Size | 600 Shares |
| Total Issue Size | ₹106.00 Cr |
| Fresh Issue | ₹106.00 Cr |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,50,77,809 |
| Share holding post issue | 2,05,13,809 |
| Market Maker portion | 3,04,800 |
Solar91 Cleantech Limited IPO opens on December 24, 2024, and closes on December 27, 2024.
| 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 | December 31, 2024 |
| Listing Date | January 1, 2025 |
| Cut-off time for UPI mandate confirmation | December 27, 2024 |
A minimum of 600 shares and multiples thereof can be bid for by investors. The table below illustrates the minimum and maximum investment by retail investors and HNIs in terms of shares and amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | Rs.117,000 |
| Retail (Max) | 1 | 600 | Rs.117,000 |
| S-HNI (Min) | 2 | 1,200 | Rs.234,000 |
| S-HNI (Max) | |||
| B-HNI (Min) | |||
| HNI (Min) |
| Share Holding Pre Issue | 69.75% |
| Share Holding Post Issue | 51.26% |
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50% of the Net Issue |
|
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35% of the Net Issue |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
Incorporated in 2015, Solar91 Cleantech Limited has been engaged in providing Engineering, Procurement, and Construction (EPC) Solar Energy Solutions to commercial and industrial customers. Renewable energy systems are offered to assist in reducing power consumption.
The focus is primarily placed on serving customers and investors in the distributed renewable energy market. This includes rooftop solar systems for industrial, commercial, and residential sectors, along with open access, group captive solutions, agro PV, and distributed solar investment opportunities.
Solar projects are being developed under the IPP model, and work has been initiated on projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM Kusum) Scheme, a government initiative aimed at solarizing agricultural feeders.
Multiple awards have been received by the company, and it is recognized as an industry leader in Rajasthan and across the nation in the Commercial and Industrial Solar PV sector.
| KPI | Values |
|---|---|
| ROE | 0.50% |
| ROCE | 25.81% |
| Debt/Equity | 2.30 |
| RoNW | 49.51% |
| P/BV | 5.46 |
| PAT Margin (%) |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ||
| P/E (x) |
The proceeds are intended to be utilized as follows:
Solar91 Cleantech Limited Plot No. D-802, Sector-5, Malviya Nagar, Jaipur 302017 Phone: 91 805 8300 034 Email: info@solar91.com Website: https://www.solar91.com/ |
Maashitla Securities Private Limited Phone: +91-11-45121795-96 Email: ipo@maashitla.com Website: https://maashitla.com/allotment-status/public-issues |
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