Solar91 Cleantech IPO Date, Review, Price, Allotment Details
Amaan Khan | April, 2025
Solar91 Cleantech is all set to launch its IPO in 2025. The IPO will both open and close in 2025 (exact dates are awaited). It will be a Book Built Issue, where the company plans to raise around ₹106 crores. This amount includes a fresh issue of ₹106 crores and an offer for sale of some equity shares (details yet to be finalized). Each share will have a face value of ₹10.
The price band for the Solar91 Cleantech IPO is set between ₹185 to ₹195 per share.
Here’s how the IPO will be divided:
35% for Retail Investors
50% for Qualified Institutional Buyers (QIB)
15% for High Net-worth Individuals (HNI)
After the IPO, the company’s shares will be listed on BSE in 2025. The allotment date will also be announced closer to the listing.
Financial Performance:
Revenue in 2024: ₹42.97 crores (up from ₹37.67 crores in 2023)
Profit in 2024: ₹2.36 crores (a big jump from ₹0.20 crores in 2023)
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LOT SIZE
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The Solar91 Cleantech IPO minimum market lot is 600 shares with ₹1,17,000 application amount.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 600 | ₹1,17,000 |
| Retail Maximum | 1 | 600 | ₹1,17,000 |
| S-HNI Minimum | 2 | 1,200 | ₹2,34,000 |
IPO Details
Key Performance Indicators (IPO)
| IPO Open Date: | 2025 |
|---|---|
| IPO Close Date: | 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹185 to ₹195 Per Share |
| Issue Size: | Approx ₹106.00 Crores |
| Fresh Issue: | Approx ₹106.00 Crores |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE SME |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Take a closer look at Solar91 Cleantech IPO’s valuation details, including its Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV).
| KPI | Values |
|---|---|
| ROE: | 49.51% |
| ROCE: | 25.81% |
| EBITDA Margin: | 9.00% |
| PAT Margin: | 5.46% |
| Debt to equity ratio: | 2.3 |
| Earning Per Share (EPS): | ₹2.17 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 49.51% |
| Net Asset Value (NAV): | ₹3,047.22 |
Important Dates
The Solar91 Cleantech IPO will open in 2025 and close in 2025. The allotment of shares will be finalized in 2025, with the listing scheduled for the same year.
| IPO Open Date: | 2025 |
|---|---|
| IPO Close Date: | 2025 |
| Basis of Allotment: | 2025 |
| Refunds: | 2025 |
| Credit to Demat Account: | 2025 |
| IPO Listing Date: | 2025 |
Financial Report
The company posted a revenue of ₹42.97 crores in 2024, compared to ₹37.67 crores in 2023. It also saw a significant rise in profit, reporting ₹2.36 crores in 2024, up from just ₹0.20 crores in 2023.
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
|---|---|---|---|---|
| 2022 | ₹42.01 | ₹41.57 | ₹0.32 | ₹9.54 |
| 2023 | ₹37.67 | ₹37.40 | ₹0.20 | ₹12.99 |
| 2024 | ₹42.97 | ₹39.84 | ₹2.36 | ₹24.95 |
| Sep-24 | ₹50.54 | ₹45.27 | ₹4.00 | ₹52.47 |
About Promoters & Company
The company’s promoters include Mr. Prateek Agrawal, Mr. Saurabh Vyas, Mr. Sandeep Gurnani, and Mr. Dhawal Gaurang Vasavada.
Solar91 Cleantech Limited, founded in 2015 and based in Jaipur, specializes in the solar energy sector. The company is driven by the vision of creating a more sustainable and brighter future with every ray of energy it harnesses. Solar91 Cleantech offers customized solar solutions for residential, commercial, and industrial clients. They provide Engineering, Procurement, and Construction (EPC) services, covering everything from installation to ongoing maintenance.
Their motto, “Energy Independence,” reflects their mission to help customers and businesses move away from reliance on coal, oil, and natural gas. The company prides itself on delivering high-quality, reliable solar solutions that meet industry standards, ensuring exceptional value for its clients. With a team of experts and knowledgeable professionals, Solar91 Cleantech handles every aspect of solar energy projects efficiently.
In terms of performance, the company reported a revenue of ₹50.53 crores and a profit of ₹4.00 crores in 2024.
Peer Group companies comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Oriana Power Limited | 33.93 | 65.1 | 36.47 | 7.88 | 55.13 Cr. |
| Waaree Renewable Technologies Limited | 14.3 | 95.3 | 57.43 | 12.45 | 148.94 Cr. |
3 Main Objectives
To fund investments in a subsidiary for the development of solar projects as an Independent Power Producer (IPP).
To fulfill the working capital needs of the company to support its ongoing operations and growth.
To allocate funds for general corporate purposes, ensuring the smooth functioning of the business.
NSDL IPO Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
Merchant Bankers
- Narnolia Financial Services Ltd
Check Grey market premium at below
(GMP)
Company Address
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/