Solar91 Cleantech SME IPO Details, Financials, Valuation & Peers
Explore Solar91 Cleantech IPO details, including IPO dates, financial statements, valuation, peer comparison and more.
Overview
Solar91 Cleantech Limited, established in 2015, is a renewable energy solutions provider specializing in solar energy systems. Initially operating under the EPC (Engineering, Procurement, and Construction) model, the company has expanded its portfolio to include the Independent Power Producer (IPP) model, where it builds, owns, and operates solar power projects through Special Purpose Vehicles (SPVs). Solar91 offers turnkey solutions for industrial, commercial, and residential sectors, with a focus on grid-connected and off-grid solar energy systems. Headquartered in Rajasthan, Solar91 has successfully commissioned over 94 MW of solar capacity across 13 Indian states and internationally in Kenya. The company’s expertise lies in distributed renewable energy solutions, including rooftop solar, open access, group captive solutions, and agro-PV systems. Solar91 has also aligned itself with government initiatives such as the PM Kusum scheme to expand its IPP portfolio.
Key Points:
- Business Model:
- EPC Model: Turnkey solar energy solutions for commercial and industrial consumers.
- IPP Model: Ownership and operation of solar power plants via SPVs, generating revenue through Power Purchase Agreements (PPAs).
- Project Portfolio:
- 191 commissioned projects in 13 Indian states and Kenya.
- Total installed capacity of over 94 MW.
- Market Focus:
- Distributed renewable energy generation, including rooftop solar, agro-PV, and open-access solutions.
- Government Collaboration:
- Active participation in the PM Kusum Scheme for agricultural solarization.
- Geographical Reach:
- Presence in Rajasthan, Maharashtra, and other Indian states, with an international project in Kenya.
Objects of the Issue
- To meet out the expenses for Investment in Subsidiary for development of Solar Projects as an Independent Power Producer (IPP)
- To meet out the expenses for Working capital requirement for the company
- To meet out the expenses for General Corporate Purpose
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | To be announced |
| IPO Price Band | ₹185 - ₹195 per share |
| Fresh Issue | 54,36,000 shares |
| Offer For Sale | NIL |
| Total IPO Size | ₹106.00 crore |
| Face Value | ₹10 |
| Listing On | BSE |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Sep 2024 |
|---|---|---|---|---|
| Total Income | 42.01 | 37.67 | 42.97 | 50.54 |
| Total Expenses | 41.57 | 37.40 | 39.84 | 45.27 |
| Net Profit/Loss | 0.32 | 0.20 | 2.33 | 4.00 |
| NPM (*) | 0.78 | 0.54 | 5.46 | 7.96 |
| Total Assets | 9.54 | 12.99 | 24.95 | 52.47 |
| Total Liabilities | 8.23 | 10.64 | 20.25 | 24.03 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Sep 2024 |
|---|---|---|---|---|
| EPS | 0.46 | 0.20 | 2.17 | 2.83 |
| ROE (%) | 24.77 | 8.62 | 49.51 | 14.07 |
| ROCE (%) | 22.10 | 8.77 | 25.81 | 16.44 |
| D/E Ratio | 1.73 | 3.29 | 2.30 | 0.42 |
| Current Ratio | 1.38 | 2.98 | 1.94 | 2.20 |
| EBITDA MARGIN (%) | 1.46 | 2.21 | 9.00 | 12.31 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Solar91 Cleantech Limited | 42.77 | 89.86 | 2.17 | 49.51 | 3,047.22 |
| Oriana Power Limited | 377.31 | 65.10 | 33.93 | 36.47 | 7.88 |
| Waaree Renewable Technologies Limited | 867.36 | 95.30 | 14.30 | 57.43 | 12.45 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 0 |
| Non-Institutional Investor (NII/HNI) | 0 |
| Retail Individual Investor (RII) | 0 |
| Total | 0 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795
Email: ipo@maashitla.com
Website: www.maashitla.com
Company Promoters
- MR. PRATEEK AGRAWAL
- MR. SAURABH VYAS
- MR. SANDEEP GURNANI
- MR. DHAWAL GAURANG VASAVADA
Lead Managers
- NARNOLIA FINANCIAL SERVICES LIMITED
Company Address
Solar91 Cleantech Limited
Plot No. D-802, Sector-5, Malviya Nagar, Jaipur, Rajasthan, India, 302017
Phone: +91 805 8300 034
Email: info@solar91.com
Website: www.solar91.com
FAQs
- What is the issue size of the Solar91 Cleantech SME IPO?The Solar91 Cleantech SME IPO has an issue size of ₹106.00 crore. This includes a fresh issue of 54,36,000 shares and an offer for sale (OFS) of NIL.
- What is the price band of the Solar91 Cleantech IPO?The price band for the Solar91 Cleantech IPO is ₹185 - ₹195 per share.
- What are the bidding dates for the Solar91 Cleantech IPO?The Solar91 Cleantech IPO bidding dates haven't been announced yet.
- What is the allotment date for the Solar91 Cleantech IPO?The allotment date for the Solar91 Cleantech IPO has not been announced yet.
- What is the minimum lot size and investment required for the Solar91 Cleantech IPO?The minimum lot size for the Solar91 Cleantech IPO is 600 shares and the minimum investment required is ₹1,17,000.
- What is the listing date for the Solar91 Cleantech IPO?The listing date for the Solar91 Cleantech IPO has not been announced yet.
- What is the Solar91 Cleantech IPO grey market premium?The grey market premium (GMP) for the Solar91 Cleantech IPO is currently at ₹100, with an expected listing gain of approximately 51.28%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.