Solarium Green Energy share price makes lukewarm debut, lists at just 6% premium on BSE SME

Solarium Green Energy share price made a positive debut on BSE SME today. Solarium Green Energy share price today opened at ₹202, which is 5.76% higher than the issue price of ₹191.

The initial public offering (IPO) of Solarium Green had a subscription period that ran from Thursday, February 6, until Monday, February 10. With a face value of ₹10, shares in the Solarium Green IPO are priced at ₹191. At least 600 of those shares are up for bid, and there are multiples of those shares available. Solarium Green IPO subscription status was 8.83 times on the last day of bidding.

Solarium Green Energy Limited specializes in providing solar solutions. The firm delivers comprehensive solar services, which encompass design, engineering, procurement, construction, testing, commissioning, transmission systems, as well as Operation & Maintenance for solar projects in residential, commercial, industrial, and government sectors.

The company provides all-inclusive EPC (Engineering, Procurement, and Commissioning) contracts that include site evaluation, technology assessment, engineering, supply chain management, construction, logistics, labor, financial planning, and warranties for solar initiatives.

As per the red herring prospectus (RHP), the company’s listed peers are Zodiac Energy Ltd (with a P/E of 51.62), and Oriana Power Ltd (with a P/E of 22.21).

Solarium Green Energy IPO details

The Solarium Green Energy IPO, valued ₹105.04 crore, includes a fresh issuance of 54,99,600 equity shares with a face value of ₹10. There is no “offer for sale” component.

The company plans to use the funds for various purposes, including addressing working capital needs and covering general corporate expenses.

Beeline Capital Advisors Pvt Ltd serves as the book-running lead manager for the Solarium Green IPO, and Link Intime India Private Ltd is responsible for the registration of the issue. The market maker for the Solarium Green IPO is Spread X Securities Private Limited.

Solarium Green Energy IPO GMP today

Solarium Green IPO GMP is +5. This indicates Solarium Green share price were trading at a premium of ₹5 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Solarium Green share price was indicated at ₹196 apiece, which is 2.62% higher than the IPO price of ₹191.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.’

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.