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solar91 cleantech IPO GMP

Solar91 Cleantech IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com, a legacy of 31 Years.

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Solar91 Cleantech listing Review

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Subscription status of Solar91 Cleantech IPO

Solar91 Cleantech IPO (Day 1)

Price Rs. ? Lot ? shares, Rs.? Crore

QIB NII x RII x Total x Applications
         
Amount wise bids recd. Rs. ? Crore
Note: 

What is the business of Solar91 Cleantech?

Incorporated in 2015, Solar91 Cleantech Limited specializes in providing Engineering, Procurement, and Construction (EPC) solar energy solutions to commercial and industrial clients, helping them reduce power consumption through renewable energy systems.

The company primarily targets the distributed renewable energy market, offering a wide range of solutions including rooftop solar for industrial, commercial, and residential sectors, as well as open access, group captive solutions, agro PV, and distributed solar investment opportunities.

Solar91 is expanding its footprint by developing solar projects under the Independent Power Producer (IPP) model. It has also initiated work on projects under the government’s Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM Kusum) Scheme, which aims to solarize agricultural feeders.

Recognized as an industry leader, Solar91 has received multiple awards and is highly regarded in Rajasthan and nationally within the Commercial and Industrial Solar PV sector.

Business Segments:

  • Engineering, Procurement, and Construction (EPC): Provides services to customers in the commercial and industrial sectors.
  • Independent Power Producer (IPP): Develops, operates, and maintains solar projects through its wholly owned subsidiaries.
  • Operations and Maintenance (O&M): Offers operation and maintenance services for solar projects developed under both the EPC and IPP models.

With over 9 years of experience, Solar91 has expanded its operations to 13 states across India and has successfully completed an EPC project in Kenya. The company has commissioned 191 projects across India and one in Africa, with a total capacity exceeding 94 MW. As of September 30, 2024, the company employs a dedicated team of 81 professionals

Get more information about the companyhttps://www.solar91.com/

Solar91 Cleantech IPO Details

IPO opens on  24 December 2024
IPO closes on  27 December 2024
Issue Type Book Built Issue IPO
Issue Size 5436000 Shares /
Rs ? Crore
* Fresh Issue 5436000 Shares /
Rs ? Crore
* Offer for Sale – – shares /
Rs. – crore
Market Maker Portion 304800 Shares
Net offer to Public 5131200 Shares/
Rs.? Crore
Face Value per share Rs. 10
Price Band Rs. 
Employee discount  Rs. 0 per share
Retail Lot Size  ? Shares
Listing will at  BSE SME

Shares offered in IPO

  Shares Rs. (Crore)
QIB (50%) 2565600  
NII  (15%)   769680  
RII  (35%) 1795920  
Total Shares  5131200  
Retail portion will be
oversubscribed by 
?
Forms
How much Shares to Apply in this IPO?
Min Retail Application ? Shares Rs.?
Min HNI Application  ? Shares Rs. ?

Who are the Promoters of Solar91 Cleantech?

Mr. Prateek Agrawal, Mr. Saurabh Vyas, Mr. Sandeep Gurnani and Mr. Dhawal Gaurang Vasavada are the promoters of the company

What are the Objects of Solar91 Cleantech IPO?

The Offer comprises of fresh issue of shares.

The Company intends to utilize the proceeds:-

  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

Tentative timetable

IPO opens on 24 December 2024
IPO Closes on 27 December 2024
IPO Allotment on  30 December 2024
Refund Initiation  31 December 2024
Credit of Shares 31 December 2024
Listing on 1 January 2025
Registered Office of the Company
Solar91 Cleantech Limited
Plot No. D-802,
Sector-5,
Malviya Nagar, Jaipur 302017
Who is the Lead Manager of this IPO?
Narnolia Financial Services Ltd

Who is the Registrar to IPO?
Maashitla Securities Private Limited

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Solar91 Cleantech IPO Financial & Analytical Ratios

Year Total
Income
Net
Profit
EPS RoNW
  Rs.in Crore Rs.in Crore Rs. %
2021-22 42.01 0.32 0.46 24.77
2022-23 37.67 0.20 0.20 8.62
2023-24  42.97 2.33 2.17 49.51
Book Value of the
Share on 30.09.2024
Rs 18.86    
BV of the Share at
cap price after IPO
Rs.      
Offer Price/upper band Rs. ?    

Key Performance
indicators

Price/EPS of 23-24 ?
Price/BV Ratio ?
Debt/Equity Ratio 0.02


How Solar91 Cleantech IPO
compares with the Peers?

As on date of RHP FV Net  PE
  Rs. Profit Ratio of
    Rs. In Crore  
Solar91 Cleantech 10 2.33 ?
Oriana Power 10 55.13 65.10
Waaree Renewable 2 148.94 95.30
       
       
       

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