Solarium Green iPo Listing: The shares of Sollerium Green, working on solar projects, got into a fanfare on BSE SME today. As soon as the list was done, it reached the upper circuit. Its IPO received more than 13 times the overall overall. Under the IPO, shares have been issued at the price of Rs 191. Today it has entered BSE SME at Rs 202.00, that is, IPO investors got 5.76% listing gains. Share and climb up after listing. It jumped up to the upper circuit of Rs 212.10 (Solarium Green Share Price) i.e. IPO investors are now 11.05% profit.
How to spend the money for solarium green ipo
The ₹ 105.04 crore IPO of Sollerium Green was opened from 6-10 February for subscription. This IPO received good response from investors and overall it was subscribed to 13.49 times. It had a share reserved for qualified Institutional Buyers (QIB), 8.83 times, non-institutional investors (NII) share 18.04 times and retail investors were filled 5.07 times. Under this IPO, 54,99,600 new shares with a face value of Rs 10 have been issued. The company will use the money collected through these shares to meet the needs of working capital and in common corporate purposes.
About Solarium Green
The Sollerium Green Energy, built in 2015, works on solar projects. This Turnsi offers contracts EPC (Engineer, Procurement and Commissioning). In the last three years, the company has completed 11,195 residential, 172 commercial and industrial and 17 government projects. Talking about the financial health of the company, in FY 2022 it had made a net profit of Rs 2.05 crore, which fell to Rs 1.74 crore in the next financial year 2023. Then the situation improved and in the financial year 2024, the profits rose rapidly to Rs 15.59 crore. During this time there was also ups and downs in the company’s revenue. It received Rs 167.89 crore in FY 2022, Rs 98.93 crore in FY 2023 and Rs 177.81 crore in FY 2024. Talking about the current financial year 2024-25, in the first half April-September 2024 it has received a net profit of Rs 7.55 crore and a revenue of Rs 82.34 crore.