Upcoming IPO: Solar91 Cleantech on Friday, December 6 stated Bombay Inventory Alternate (BSE) has permitted the draft pink herring prospectus for its preliminary public supply (IPO).
Solar91 Cleantech, a photo voltaic plant set up firm, plans to challenge as much as 54,36,000 fairness shares, every with a face worth of ₹10, within the upcoming IPO.
It plans to utilise the funds raised through public challenge to fulfill the bills for funding in its subsidiary for the event of photo voltaic tasks as an Unbiased Energy Producer (IPP), meet working capital necessities, cowl basic company functions, and tackle challenge bills associated to the IPO.
Solar91 Cleantech Financials
Solar91 Cleantech reported a pointy improve of 1.048% in its consolidated internet revenue for the monetary 12 months 2023-2024 (FY24) to ₹233.45 lakh from ₹20.33 lakh within the year-ago interval.
In the meantime, its income from operations jumped 14% year-on-year to ₹42.77 crore in FY24 from ₹37.58 crore within the earlier fiscal 12 months.
About Solar91 Clenatech
Based mostly in Jaipur, Rajasthan, Solar91 gives full EPC (Engineering, Procurement, and Building) companies to industrial and industrial purchasers throughout India.
The corporate has efficiently put in almost 80 MW of photo voltaic tasks in 13 states and presently has greater than 155 MW of tasks in progress beneath the PM Kusum Scheme as an Unbiased Energy Producer (IPP), as per a launch shared by the agency.
Solar91 has additionally gained the bottom bid for IPP tasks in Karnataka and is engaged on creating photo voltaic parks for personal customers in Rajasthan and Karnataka, it added.
Haldiram’s, Rajasthan Patrika, NP Agro and Golcha Group are a few of its key purchasers.
Narnolia Monetary Providers Restricted has been appointed because the E-book Operating Lead Supervisor to the problem, whereas Maashitla Securities Personal Restricted will function the Registrar.
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