Solarium Green Energy IPO allotment: How to check status online on BSE, Link Intime India

Solarium Green Energy IPO allotment: The initial public offering of Solarium Green Energy Ltd closed with a strong subscription on Monday, February 10. The BSE SME issue was overall booked over 8 times.

After the successful subscription, the investors are now waiting for Solarium Green Energy IPO allotment status to be finalised. The company is scheduled to decide the share allotment status for the IPO on Tuesday, February 11.

The SME IPO, which opened for subscription on BSE on February 6, received bids for nearly 3.25 crore shares against 39.36 lakh shares on offer. The issue was booked 8.28 times.

Among investor categories, the non-institutional investors’ (NIIs) portion was booked 13.47 times with bids for over 1.44 crore shares against 10.69 lakh shares on offer. The retail segment of the IPO was booked 5.08 times. The retail investors applied for 92.61 lakh shares against 18.24 lakh shares reserved for them.

The qualified institutional buyers (QIBs) subscribed to their quota 8.55 times, with applications for 89.18 lakh shares against 10.42 lakh shares reserved for the segment.

The IPO investors can check the share allotment status on the websites of the BSE and issue registrar Link Intime India.

How to check Solarium Green Energy IPO allotment on Link Intime India website:

• Go to the IPO allotment status page on the Link Intime India website: https://linkintime.co.in/initial_offer/public-issues.html
• Select Solarium Green Energy Ltd from the dropdown menu for company names
• Choose any of these options— Application No, PAN, DP/Client ID or Account No / IFSC
• Enter relevant details
• Submit to check the allotment status

Steps to check Solarium Green Energy IPO allotment status on the BSE website

• Open BSE IPO Application Status page: https://www.bseindia.com/investors/appli_check.aspx
• Click on ‘Equity’ out of two options
• Select Solarium Green Energy Ltd as the issue name
• Enter PAN details or application number
• Submit to check the details

Solarium Green Energy IPO details

• The ₹105.04-crore IPO of Solarium Green Energy was only a fresh issue of 55 lakh shares.
• The IPO price band was fixed at ₹181 to ₹191 per share.
• The lot size was 600 shares, requiring a minimum investment of ₹1,14,600 for the retail investors.
• After finalising the IPO allotment status, Solarium Green Energy will initiate refunds, and transfer of shares to the - Demat accounts on February 12.
• The IPO listing date has been tentatively fixed as February 13.

About Solarium Green Energy and use of IPO proceeds

Solarium Green Energy offers turnkey solutions for renewable energy projects and supplies various solar products. The turnkey solutions comprise design, procurement and supply, construction, testing and commissioning, and comprehensive operation and maintenance of solar plants. The company executes a range of projects such as commercial and industrial roof-top and ground-mounted projects, residential rooftop projects and government projects.

The company is also engaged in the sale of solar products such as solar PV modules and solar PV inverters.

Solarium Green Energy has proposed to utilise ₹ 71 crore of the IPO proceeds for funding its working capital requirements. The company will use the remaining portion of the funds for general corporate purposes like entering into strategic alliances with other body corporates for expansion of business abroad or in India, servicing our repayment obligations and capital expenditure.

Solarium Green Energy financials

Solarium Green Energy reported a profit after tax of ₹7.55 crore for the April-September period of FY 2024-25. The total income during the period stood at ₹82.34 crore.

The solar EPC company reported a net profit of ₹15.58 crore in FY 2023-24 compared to ₹1.73 crore in FY 2022-23. Its total income stood at ₹177.80 crore in FY24 against ₹98.92 crore in FY23.

Solarium Green Energy Key Performance Indicators (for 2023-24)