Solar91 Cleantech Limited is set to launch its public offering. The issue will open on 24 December, 2024, and it will close on 27 December, 2024. This is a Book Built Issue. Through this offering, the company aims to raise approximately ₹106 crores from potential investors.
The public offering consists of a total issue of 54,36,000 equity shares, comprising a Fresh Issue of 54,36,000 equity shares. The face value of the shares is ₹10 per share, and the issue price is set at ₹185 to ₹195 per share. Investors can bid for a minimum lot size of 600 shares.
Key Detail of IPO
| Category | Detail | Information |
|---|---|---|
| Key Dates | IPO Open Date | 24 December, 2024 (Tuesday) |
| IPO Close Date | 27 December, 2024 (Friday) | |
| Pricing Information | Face Value | ₹10 per equity share |
| Issue Price Range | ₹185 to ₹195 per equity share | |
| Offer Structure | Total Issue Size | 54,36,000 shares (amounting up to ₹106.00 Cr) |
| Fresh Issue | 54,36,000 shares (amounting up to ₹106.00 Cr) | |
| Investor Details | Listing Exchange | BSE SME |
| IPO Type | Book Built Issue | |
| Market Maker Portion | 3,04,800 shares (Prabhat Financial Services Ltd.) |
Important Dats to Remember
| Event | Date |
|---|---|
| IPO Opening Date | 24 December, 2024 (Tuesday) |
| IPO Closing Date | 27 December, 2024 (Friday) |
| Basis of Allotment | 30 December, 2024 (Monday) |
| Initiation of Refunds | 31 December, 2024 (Tuesday) |
| Credit of Shares to Demat | 31 December, 2024 (Tuesday) |
| Listing Date | 1 January, 2025 (Wednesday) |
What is GMP of Solar91 Cleantech IPO Today?
As of December 20, 2024, the Grey Market Premium (GMP) for the Solar91 Cleantech IPO is ₹55. This indicates that the shares are expected to list at approximately ₹*per share.
Note: GMP is an unofficial indicator and is based on market speculation; it does not guarantee actual listing performance.
Company Financial Standing
| Particulars | Sep 2024 (₹ Lakhs) | FY 2024 (₹ Lakhs) | FY 2023 (₹ Lakhs) | FY 2022 (₹ Lakhs) |
|---|---|---|---|---|
| Assets | 5,247.35 | 2,495.28 | 1,299.40 | 953.85 |
| Revenue | 5,053.51 | 4,297.40 | 3,766.95 | 4,201.23 |
| Total Expenses | 4,527.46 | 3,984.10 | 3,739.96 | 4,156.97 |
| Profit After Tax | 400.01 | 235.81 | 20.33 | 32.34 |
| Net Worth | 2,843.35 | 471.50 | 235.68 | 130.56 |
| Reserves and Surplus | 1,335.57 | 469.95 | 234.14 | 129.29 |
Company’s Key Performance Indicators
| Key Performance Indicator | Value |
|---|---|
| Return on Capital Employed (ROCE) | 25.81% |
| Return on Equity (ROE) | 0.50% |
| Debt to Equity Ratio | 2.30 |
| Return on Net Worth (RoNW) | 49.51% |
| EBITDA Margin (%) | 9.00% |
| After Tax Profit Margin (%) | 5.46% |
| Net Asset Value (NAV) | ₹3,047.22 |
| Earnings Per Share (EPS) | ₹2.17 |
| Price to Book Value (P/BV) |
Lot Size and Application Amount
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail Investor (Minimum Lot) | 1 | 600 | ₹1,17,000 |
| Retail Investor (Maximum Lot) | 1 | 600 | ₹1,17,000 |
| HNI Investor (Minimum Lot) | 2 | 1,200 | ₹2,34,000 |
Investor Category-Wise Reservation
| Investor Category | Reservation |
|---|---|
| Shares Reserved for QIB | 50% of the Net Offer |
| Shares Reserved for Retail Investors | 35% of the Net Offer |
| Shares Reserved for Non-Institutional Investors | 15% of the Net Offer |
Net Cash Flow Generated
| Activity | Sep 2024 (₹ Lakhs) | FY 2024 (₹ Lakhs) | FY 2023 (₹ Lakhs) | FY 2022 (₹ Lakhs) |
|---|---|---|---|---|
| Net Cash from Operating Activities | -1,382.98 | 396.76 | -334.27 | -374.54 |
| Net Cash from Investing Activities | -781.03 | -336.91 | -138.74 | -5.99 |
| Net Cash from Financing Activities | 2,046.90 | 247.25 | 581.82 | 130.99 |
Peer Comparison: EPS, PE Ratio, and Face Value
| Company Name | EPS Basic (₹) | P/E Ratio | Face Value (₹) |
|---|---|---|---|
| Solar91 Cleantech Limited | 2.17 | * | 10.00 |
| Oriana Power Limited | 33.93 | 65.10 | 10.00 |
| Waaree Renewable Technologies Limited | 14.30 | 95.30 | 2.00 |
State Wise Revenue Breakdown
| State | Sep 30, 2024 (₹ Lakhs) | FY 2024 (₹ Lakhs) | FY 2023 (₹ Lakhs) | FY 2022 (₹ Lakhs) |
|---|---|---|---|---|
| Delhi | - | 84.63 | 21.50 | 87.37 |
| Rajasthan | 3,500.50 | 2,385.77 | 2,832.77 | 2,750.11 |
| Maharashtra | 467.39 | 987.94 | 706.31 | 494.24 |
| Gujarat | 81.00 | - | 2.16 | - |
| Uttar Pradesh | 895.86 | 347.19 | 58.00 | 319.70 |
| Karnataka | 51.83 | - | 2.92 | 76.30 |
| Tamil Nadu | - | - | 0.24 | - |
| Haryana | 65.64 | 471.83 | 132.83 | 267.16 |
| Madhya Pradesh | - | - | 0.95 | 14.82 |
| Telangana | - | - | - | 147.29 |
| Uttarakhand | 163.50 | - | - | - |
| Export | 0.07 | - | - | - |
| Total | 5,225.81 | 4,277.35 | 3,758.13 | 4,157.02 |
Key Objectives of Issue
- Funding for Subsidiary Companies
- Working Capital Requirement
- General Corporate Purposes
Popular Questions
It is always beneficial to read Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP) carefully to better understand its financials and growth opportunities before making a decision.
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Note: This article is based on the information received from the company’s official documents, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). For up-to-date information on the Grey Market Premium (GMP) for the Solar91 Cleantech IPO, you may please check our Current GMP, where we will post the latest figures as soon as they are available.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in an IPO or any other securities to make sure that it suits your financial plans and risk tolerance.
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