The Solar91 Cleantech IPO price band is set between ₹ 185.00 and ₹ 195.00 per share. The minimum lot size is 600 , requiring an investment of at least ₹ 117000.00 .

Services and Operations

Solar91 offers a full spectrum of services covering the entire lifecycle of solar power projects, including:

Site Survey – Conducting detailed engineering assessments for project feasibility.
System Design – Performing structural analysis, array layout planning, and electrical specifications.
Permissions and Approvals – Managing customer reviews, obtaining permits, and securing clearances.
Installation – Overseeing construction, conducting periodic inspections, and ensuring quality control.
Monitoring and Maintenance – Providing system monitoring and energy consumption tracking.
Utility Interconnection – Facilitating permissions for grid connectivity and smooth integration.
Final Inspection and Commissioning – Ensuring quality assurance and seamless system startup.

The company has successfully commissioned nearly 80 MW of distributed solar projects across 13 Indian states, serving industries such as agro-processing and textiles. It has also expanded internationally, completing a solar project in Kenya.

Financial Performance

As of March 31, 2024, Solar91 Cleantech reported:

Revenue: ₹42.77 crore
Profit After Tax (PAT): ₹2.33 crore

For the period up to September 2024, the company achieved:

Revenue: ₹50.25 crore
PAT: ₹4 crore

These figures reflect consistent growth and a strong position in the renewable energy sector.

IPO Details

In December 2024, Solar91 Cleantech announced its plan to launch an Initial Public Offering (IPO) on the BSE SME platform. The IPO details include:

Issue Size: 54.36 lakh equity shares
Price Band: ₹185–₹195 per share
Total Proceeds: Approximately ₹106 crore at the upper end
Bidding Dates: December 24 to December 27, 2024

The IPO funds were allocated for:

Investment in Subsidiary – Developing solar plants as an Independent Power Producer (IPP).
Working Capital Requirements – Supporting day-to-day business operations.
General Corporate Purposes – Covering various corporate expenses.

However, the IPO was postponed due to unforeseen circumstances, with new dates yet to be announced.

Conclusion

Solar91 Cleantech Limited continues to be a key player in India’s solar energy sector, driving the adoption of renewable energy solutions. With its strong foundation, technological expertise, and commitment to sustainability, the company remains focused on expanding operations and exploring new growth opportunities, including a potential IPO in the future.

For more details on our growth and sustainability efforts, refer to our Investor Report.

IPO Overview and Key Highlights

Solar91 Cleantech, a Jaipur-based renewable energy company, is launching its Initial Public Offering (IPO). The IPO consists of a fresh issue of 54,36,000 equity shares with a face value of ₹10 per share. There is no Offer for Sale (OFS), making it a 100% fresh issue. The funds raised will be utilized for business expansion, working capital, and general corporate purposes. The shares will be listed on the BSE SME platform.

Key IPO Details

Type of Issue • 100% Book Built Issue
Total Issue Size • 54,36,000 equity shares
Face Value • ₹10 per share
Issue Price • To be determined
Offer Opens • December 24, 2024
Offer Closes • December 27, 2024
Listing Exchange • BSE SME
Market Maker Reservation • 3,04,800 equity shares

Company Overview

Solar91 Cleantech was originally incorporated as Solar91 Cleantech Private Limited in 2015 and later converted into a public company in 2024. The company provides Engineering, Procurement, and Construction (EPC) services in the solar energy sector, catering to commercial and industrial clients.

Promoters • Prateek Agrawal, Saurabh Vyas, Sandeep Gurnani, and Dhawal Gaurang Vasavada
Headquarters • Jaipur, Rajasthan
Corporate Identification Number (CIN) • U40108RJ2015PLC048401

Financial Overview

Solar91 Cleantech has exhibited strong revenue growth, benefiting from the increasing demand for solar energy solutions. The IPO proceeds will be used to expand infrastructure, enhance R&D, and improve financial stability.

Key Strengths of Solar91 Cleantech

Established Market Presence • A leading player in India's solar EPC sector.
No OFS • Entire IPO proceeds go into business expansion.
Sustainable Energy Focus • Aligns with India's push for renewable energy.
Experienced Management • Led by a team of IIT alumni with technical expertise.

IPO Pros and Cons

Pros

Growing Renewable Energy Sector • India is rapidly expanding solar power adoption.
Proceeds Utilization • IPO funds will strengthen infrastructure and innovation.
Government Support • Favorable policies and subsidies for solar power projects.

Cons

Market Dependency • Revenue tied to solar energy demand and government policies.
Competitive Industry • Faces competition from large renewable energy firms.
Regulatory Risks • Subject to compliance with energy and environmental laws.

Risk Factors

Potential investors should consider the following risks before investing:

Sector Volatility • Business performance depends on solar energy adoption and policy changes.
Operational Challenges • Scaling solar installations while maintaining cost efficiency.
Financial Dependence • Project financing and subsidy availability impact revenue stability.

FAQs About IPO Dashboard

Solar91 Cleantech IPO will open on and close on . Investors must apply within this period to participate.

The Solar91 Cleantech IPO price band is set between ₹185.00 and ₹195.00 per share. The minimum lot size is 600, requiring an investment of at least ₹117000.00.

The Solar91 Cleantech IPO shares are expected to be listed on , subject to regulatory approvals and final allotment.

You can track your Solar91 Cleantech IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID

The Solar91 Cleantech IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.

Solar91 Cleantech IPO

COMPANY INFORMATION