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Solar91 Cleantech IPO

  • Status: Preopen
  • RHP:
  • ₹ 111,000 / 600 shares

    Minimum Investment

IPO Details

  • Open Date

    TBA

  • Close Date

    TBA

  • IPO Price Range

    ₹ 185 to ₹ 195

  • IPO Size

    ₹ 106.00 Cr

  • Listing Exchange

    BSE SME

  • Listing Date

    01 Jan 1990

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IPO Timeline

Last Updated: 23 December 2024 6:30 PM by 5Paisa

Solar91 Cleantech IPO is yet to be announced. Solar91 Cleantech specializes in Engineering, Procurement, and Construction (EPC) solar energy solutions, focusing on industrial and commercial sectors.

The IPO is a fresh issue of 0.54 Cr. shares, aggregating to ₹106.00 Cr. The price range is set at ₹185 to ₹195 per share and the lot size is 600 shares. The allotment is yet to be announced. 

Narnolia Financial Services Pvt Ltd is the book running lead manager, while Maashitla Securities Pvt Ltd is the registrar. 
 

Solar91 Cleantech IPO Size

Types Size
Total IPO Size ₹106.00 Cr.
Offer For Sale -
Fresh Issue ₹106.00 Cr.

 

Solar91 Cleantech IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 600 111,000
Retail (Max) 1 600 111,000
HNI (Min) 2 1,200 222,000

 

1. To meet the expenses for Investment in Subsidiary for development of Solar Projects as an Independent Power Producer (IPP)
2. To meet the expenses for Working capital requirement for the company
3. To meet the expenses for General Corporate Purpose
 

Solar91 Cleantech Limited specializes in Engineering, Procurement, and Construction (EPC) solar energy solutions, focusing on industrial and commercial sectors. Operating across 13 states, with over 94 MW capacity commissioned, it also develops solar projects under the IPP model. Recognized for innovation, its strengths include a unique cluster-based model, fast project turnaround, and digital efficiency.

1. Established in: 2015

2. CEO: Mr. Prateek Agrawal

Peers

1. Oriana Power Ltd

2. Waaree Renewable Technologies Ltd

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY23 FY24
Revenue 42.01 37.67 42.97
EBITDA 0.61 0.83 3.85
PAT 0.32 0.20 2.33
Particulars (in Rs. Crores) FY22 FY23 FY24
Total Assets 9.54 12.99 24.95
Share Capital 0.01 0.02 0.02
Total Borrowings 2.26 7.76 10.85
Particulars (in Rs. Crores) FY22 FY23 FY24
Net Cash Generated From / (used in) operating activities -3.75 -3.34 -3.97
Net Cash Generated From / (used in) investing activities -0.06 -1.39 -3.37
Net Cash Generated From / (used in) financing activities 1.31 5.82 2.47
Net Increase (Decrease) In Cash And Cash Equivalents -2.50 1.09 3.07

Strengths

  • Wide geographical presence with operations across 13 states and internationally.
  • Innovative cluster-based distributed solar EPC and IPP model.
  • Recognized industry leader in commercial and industrial solar PV sectors.
  • Fastest project turnaround time with in-house design and approvals team.
  • Strong government policy support and a large order book.
     

Risks

  • Dependence on government policies for project viability.
  • Limited international presence beyond Kenya.
  • High competition in the renewable energy sector.
  • Operational risks due to distributed project locations.
  • Relatively small workforce of 81 employees for scaling operations.
     

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