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Solar91 Cleantech IPO

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

    Minimum Investment

IPO Details

  • Open Date

    TBA

  • Close Date

    TBA

  • Listing Date

    TBA

  • IPO Price Range

    ₹ 185 to ₹ 195

  • IPO Size

    ₹ 106.00 Cr

  • Listing Exchange

    BSE SME

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Timeline Subscription Status Financials SWOT FAQ Contacts

IPO Timeline

Last Updated: 20 January 2025 11:13 AM by 5Paisa

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

Objectives

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 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

 

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

1. Wide geographical presence with operations across 13 states and internationally.

2. Innovative cluster-based distributed solar EPC and IPP model.

3. Recognized industry leader in commercial and industrial solar PV sectors.

4. Fastest project turnaround time with in-house design and approvals team.

5. Strong government policy support and a large order book.
 

Risks

1. Dependence on government policies for project viability.

2. Limited international presence beyond Kenya.

3. High competition in the renewable energy sector.

4. Operational risks due to distributed project locations.

5. Relatively small workforce of 81 employees for scaling operations.
 

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FAQs

Solar91 Cleantech IPO opens from 24 December to 27 December 2024.

The size of Solar91 Cleantech IPO is ₹106.00 Cr.

The price of Solar91 Cleantech IPO is fixed at ₹185 to ₹195 per share. 

To apply for Solar91 Cleantech IPO, follow the steps given below:

● Login to your 5paisa account and select the issue in the current IPO section    
● Enter the number of lots and the price at which you wish to apply for the Solar91 Cleantech  IPO.    
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of Solar91 Cleantech IPO is 600 shares and the investment required is ₹111,000.
 

The share allotment date of Solar91 Cleantech IPO is 30 December 2024

The Solar91 Cleantech IPO will be listed on 1 January 2025.

Narnolia Financial Services Pvt Ltd is the book running lead manager for Solar91 Cleantech IPO.
 

Solar91 Cleantech plans to utilise the raised capital from the IPO for:
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