Solarium Green Energy IPO fully subscribed on day 2; check price band, lot size and key dates

Solarium Green Energy IPO: The BSE SME initial share sale of Solarium Green Energy has been fully subscribed on Friday, February 7, the second day of bidding.

According to BSE data, the initial public offer received bids for 44,19,000 shares as against 39,36,600 shares on offer, translating to 1.12 times subscription until 12:27 pm.

The non-institutional investors (NIIs) portion was subscribed 37%, as they applied for 3,97,800 shares compared to 10,69,200 shares on offer.

Retail individual investors (RIIs) placed bids for 19,78,200 shares as against 18,24,600 shares reserved, leading to a 1.08% subscription.

Qualified institutional buyers (QIBs) submitted applications for 20,43,000 shares compared to 10,42,800 on offer, taking their total subscription to 1.96 times.

The money raised will be used for working capital requirements and corporate general purposes.

"The funds raised through this IPO will enhance our working capital, ensuring seamless project execution and positioning Solarium to capitalise on emerging opportunities in the renewable sector," said Ankit Garg, Chairman and Managing Director of Solarium Green Energy.

Solarium Green Energy IPO: Lot size

Investors can apply for a minimum of one lot size consisting of 600 shares. The minimum investment requirement is ₹1,14,600.

Beeline Capital Advisors is the issue's lead book-running manager, while Link Intime India is the registrar.

Solarium Green Energy IPO: Allotment and listing date

• Subscription period: February 6 to February 10
• Basis of allotment: February 11
• Refund initiation: February 12
• Credit of shares to Demat account: February 12
• Listing on BSE SME: February 13

Solarium Green Energy offers turnkey solutions for solar power plants. It serves an array of projects, including commercial and industrial (C&I) rooftop and ground-mounted projects, residential rooftop projects, and government projects.

The company is also involved in selling solar products such as Solar photovoltaic (PV) modules, solar PV inverters, and availability-based tariff meters.