Solarium Green Energy IPO Day 3: Subscription Status, GMP, and Listing Details
The initial public offering (IPO) of Solarium Green Energy opened for public subscription on February 6, 2025, and is set to close today, February 10, 2025. The IPO price range is Rs 181-190 per share, with a minimum lot size of 600 equity shares. The total issue size is Rs 105 crore.
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Subscription Status and Investor Demand
As of 10:26 AM on February 10, 2025, the IPO has been oversubscribed 1.52 times, indicating decent investor interest. Retail investors need to invest at least Rs 1,14,600 for one lot (600 shares), while high-net-worth individuals (HNIs) must buy at least two lots (1,200 shares), amounting to Rs 2,29,200.
Grey Market Premium (GMP) Update
According to market sources, Solarium Green Energy's unlisted shares were trading flat in the grey market on Monday, suggesting limited movement in premium pricing.
Share Allotment and Listing Date
- Share allotment finalization: February 11, 2025
- Demat credit to allottees: February 12, 2025
- Listing on BSE SME platform: February 13, 2025 (tentative)
Lead Managers and IPO Fund Utilization
The IPO is managed by Beeline Capital Advisors, with Link Intime India as the registrar. Before the IPO launch, the company secured Rs 29.85 crore from anchor investors on February 5, 2025.
According to its Red Herring Prospectus (RHP), the company plans to use the IPO proceeds for working capital needs and general corporate expenses.
About Solarium Green Energy
Founded in 2015, Solarium Green Energy specializes in solar solutions, offering services like design, engineering, procurement, construction, and maintenance for solar projects. The company operates on an EPC (Engineering, Procurement, and Construction) model, handling everything from site assessment to warranty support. It also supplies solar products such as PV modules, inverters, and meters.
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