Solarium Energy sets price band of Rs 181-191 for IPO to open on Feb 6

Solarium Green Energy on Tuesday said it has set the price band at Rs 181-191 per share for its Rs 105 crore initial share sale, which will hit capital markets for public subscription on February 6.

The public issue will close on February 10 and the shares of the firm will be listed on BSE's SME platform. Investors can bid for a minimum of 600 shares and in multiples thereof, the company said in a statement. 

 

The initial public offering (IPO) is entirely a fresh issue of 55 lakh equity shares. At the upper end of the price band, the company will fetch up to Rs 105.04 crore from the IPO.

The net proceeds from the IPO are to meet working capital requirements and to address general corporate purposes.

"The funds raised through this IPO will enhance our working capital, ensuring seamless project execution and positioning Solarium to capitalise on emerging opportunities in the renewable sector," Ankit Garg, Chairman & Managing Director of Solarium Green Energy, said.

Solarium Green Energy specialises in turnkey solutions, including designing, engineering, procurement, testing, installation, commissioning, transmission systems, and comprehensive O&M services.

Beeline Capital Advisors is the sole book running lead manager, while Link Intime India is the registrar to the issue.