 "Solarium Green Energy IPO Day 3; check subscription data, GMP, listing date")
Solarium Green Energy IPO Day 3:The initial public offering (IPO) of Solarium Green Energy, which opened for public subscription on Thursday, February 6, 2025, is set to close today, Monday, February 10, 2025. Available at a price band of Rs 181-190 per share, with a minimum lot size of 600 equity shares, the Rs 105 crore SME offering has witnessed decent investor demand, being oversubscribed 1.52 times as of 10:26 AM on Monday.
The public offering of Solarium Green Energy consists of a fresh issue of 54,99,600 equity shares. Retail investors are required to invest a minimum of Rs 1,14,600 for one lot (600 shares), while high-net-worth individuals (HNIs) must bid for at least two lots (1,200 shares), amounting to Rs 2,29,200.
Meanwhile, the unlisted shares of Solarium Green Energy were trading flat in the grey markets on Monday, according to sources tracking grey market activities.
The basis of allotment of Solarium Green Energy shares is expected to be finalised on Tuesday, February 11, 2025. The successful allottees will likely receive the shares in their demat accounts by Wednesday, February 12, 2025. READ: Ajax Engineering Limited IPO, Day 1
Solarium Green Energy is slated to list on the BSE SME platform tentatively on Thursday, February 13, 2025.
Link Intime India serves as the registrar for Solarium Green Energy, while Beeline Capital Advisors is the book-running lead manager.
Solarium Green Energy has already raised Rs 29.85 crore from anchor investors in a bidding process completed on February 5, 2025. In its Red Herring Prospectus (RHP), the company said that it intends to use the IPO proceeds to meet working capital requirements, as well as for general corporate purposes.
Founded in 2015, Solarium Green Energy provides solar solutions to its clients. The company offers comprehensive services, including design, engineering, procurement, construction, and maintenance for solar projects across various sectors. Solarium Green Energy operates through turnkey EPC contracts, handling everything from site assessment to warranties. Additionally, it supplies solar products like PV modules, inverters, and meters.