Solar91 Cleantech Limited is engaged in providing Engineering, Procurement, and Construction (EPC) Solar Energy Solutions to commercial and industrial customers with renewable energy systems to help reduce their power consumption.
The company primarily focuses on serving customers and investors in the distributed renewable energy market. This includes rooftop solar for industrial, commercial, and residential sectors, as well as open access, group captive solutions, agro PV, and distributed solar investment opportunities.
The company will develop its own solar projects under the IPP model and has started working on projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM Kusum) Scheme, a government initiative for solarizing agricultural feeders.
The company has received multiple awards and is recognized as an industry leader in Rajasthan and nationally in the Commercial and Industrial Solar PV sector.
Their Business Segment:
- Engineering, Procurement, Construction (EPC) Model: Offer services to customers under commercial and industrial segments.
- Independent Power Producer (IPP) Model: Operate and maintain solar projects through their wholly owned subsidiaries.
- Operations and Maintenance (O&M): Provide operation and maintenance services of the solar projects developed by them under EPC and IPP model.
For the past 9 years, the company has operated in 13 states across the country and successfully completed an EPC project in Kenya. The company has commissioned 191 projects across India and 1 project in Africa, with a total capacity of over 94 MW.
As of September 30, 2024, the company has a team of 81 employees.
Solar91 Cleantech IPO – Details
| IPO Opening Date | 24 December 2024 |
| IPO Closing Date | 27 December 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 54,36,000 Shares Worth ₹[] Crore Fresh Issue: 54,36,000 Shares Worth ₹[] Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹[] – ₹[] |
| Market Lot | – |
| Min Order | – |
| Listing At | BSE SME |
| Register | Maashitla Securities Private Limited |
| QIB Shares Offered | 50% |
| Retail Shares Offered | 35% |
| NII (HNI) Shares Offered | 15% |
Solar91 Cleantech IPO – Date Schedule
| IPO Open Date | 24 December 2024 |
| IPO Close Date | 27 December 2024 |
| Basis of Allotment | 30 December 2024 |
| Initiation of Refund | 31 December 2024 |
| Credit of Shares to Demat Account | 31 December 2024 |
| IPO Listing Date | 01 January 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 27, 2024 |
Solar91 Cleantech IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | – | – | ₹ |
| Retail (Max) | – | – | ₹ |
| HNI (Min) | – | – | ₹ |
Competitive Strengths
- Wide Geographical Presence.
- Unique Cluster Based Distributed Solar EPC and IPP Model.
- Large Order Book under a favorable National Policy.
- Among fastest Turnaround Time in the Industry.
- In House Design and Government Approvals Team.
- Digitally Enabled Processes within the Organization.
Company Promoters
- Mr. Prateek Agrawal
- Mr. Saurabh Vyas
- Mr. Sandeep Gurnani
- Mr. Dhawal Gaurang Vasavada
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 42.01 | 41.56 | 0.32 | 2.26 |
| 31 March 2023 | 37.66 | 37.39 | 0.20 | 7.76 |
| 31 March 2024 | 42.97 | 39.84 | 2.35 | 10.84 |
| 30 September 2024 | 50.53 | 45.27 | 4.00 | 11.96 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 0.50% |
| ROCE | 25.81% |
| Debt/Equity | 2.30 |
| RoNW | 49.51% |
| PAT Margin | 5.46 |
| Pre IPO | Post IPO | |
| EPS (Rs) | – | – |
| P/E (x) | – | – |
Object Of The Issue
- To meet the expenses for Investment in Subsidiary for development of Solar Projects as an Independent Power Producer (IPP).
- To meet the expenses for Working capital requirement for the company.
- To meet the expenses for General Corporate Purpose.
Solar91 Cleantech IPO Promoter Holding
| Pre Issue Share Holding | 69.75% |
| Post Issue Share Holding | 51.26% |
Solar91 Cleantech IPO Prospectus
Company Contact Information
| 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/ |
Solar91 Cleantech IPO Registrar
| Maashitla Securities Private Limited Phone: +91-11-45121795-96 Email: ipo@maashitla.com Website: https://maashitla.com/allotment-status/public-issues |
Solar91 Cleantech IPO Lead Manager(s)
| 1. Narnolia Financial Services Ltd |
Solar91 Cleantech IPO FAQs
| What is Solar91 Cleantech IPO? Solar91 Cleantech IPO is an SME IPO. The issue is priced at ₹[] and ₹[] per equity share. The IPO is to be listed on BSE SME. |
| When Solar91 Cleantech IPO will open? The IPO is to open on 24 December 2024 for QIB, NII, and Retail Investors. |
| What is Solar91 Cleantech IPO Investors Portion? The investors’ portion for QIB- 50%, Retail – 35%, NII – 15%. |
| How to Apply the Solar91 Cleantech IPO? You can apply Solar91 Cleantech IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Solar91 Cleantech IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Solar91 Cleantech IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Solar91 Cleantech IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Solar91 Cleantech IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Newmalayalam Steel IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Newmalayalam Steel IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Solar91 Cleantech IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Solar91 Cleantech IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Solar91 Cleantech IPO Size? Solar91 Cleantech IPO size is ₹[] Crore. |
| What is Solar91 Cleantech IPO Price Band? Solar91 Cleantech IPO Price Band is ₹[] – ₹[]. |
| What is Solar91 Cleantech IPO Minimum and Maximum Lot Size for Retail? The minimum bid is [] Shares with ₹[] amount while the maximum bid is [] Shares with ₹[]. |
| What is the Solar91 Cleantech IPO Allotment Date? Solar91 Cleantech IPO allotment date is 30 December 2024. |
| What is the Solar91 Cleantech IPO Listing Date? Solar91 Cleantech IPO listing date is 01 January 2025. The IPO is to be listed on BSE SME. |
