Solar91 Cleantech Limited is set to launch its initial public offering (IPO) from December D to December D, 2024, with a target to raise approximately ₹106 crores. The IPO consists solely of a fresh issue of 54.36 lakh equity shares, priced between ₹185 and ₹195 per share. Founded in 2015 by IIT alumni, Solar91 specializes in engineering, procurement, and construction (EPC) solutions for solar energy projects, focusing on both rooftop and distributed solar installations. The company has successfully commissioned over 191 solar plants across India and is actively involved in government initiatives like the PM Kusum Scheme.
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Expert Opinions
Market sentiment for the Solar91 Cleantech IPO is optimistic, reflecting a growing interest in renewable energy investments. Company strengths include its strong track record in engineering, procurement, and construction (EPC) solutions, having successfully commissioned over 191 solar projects across India, which positions it well in a rapidly expanding sector. The company’s focus on sustainability and innovative energy solutions further enhances its competitive edge. However, risks and challenges include potential regulatory changes and market competition that could impact profitability.
The valuation analysis, with shares priced between ₹185 and ₹195, appears reasonable given the company’s financial growth, including a revenue increase from ₹3,766.95 lakhs to ₹4,297.40 lakhs in recent years. From a long-term investment perspective, Solar91 Cleantech is well-positioned to benefit from the increasing demand for solar energy solutions, making it an attractive option for investors looking to capitalize on the renewable energy trend while being mindful of market dynamics.
Investor Considerations
Investors considering the Solar91 Cleantech IPO should evaluate several critical factors. Company performance and fundamentals are strong, with a proven track record in engineering, procurement, and construction (EPC) solutions for solar projects, having successfully commissioned over 191 installations. The sector outlook is favorable, driven by increasing government support for renewable energy initiatives and a growing demand for sustainable energy solutions in India.
The IPO valuation, priced between ₹185 and ₹195 per share, reflects a reasonable entry point given the company’s robust order book and financial metrics, including a return on net worth of 49.51%. Growth prospects are promising, as the company plans to utilize IPO proceeds to expand its project portfolio and enhance operational capabilities. However, risk factors include market competition and potential regulatory changes that could impact profitability. A long-term investment horizon is advisable, as Solar91 Cleantech is well-positioned to capitalize on the expanding solar energy market while navigating inherent industry challenges effectively.
| Date | GMP | Trend |
|---|---|---|
| 30 Dec 2024 11.33 | ₹00 | --- |
| 29 Dec 2024 12.14 | ₹00 | --- |
| 28 Dec 2024 11.54 | ₹00 | --- |
| 27 Dec 2024 11.19 | ₹00 | --- |
| 25 Dec 2024 11.16 | ₹00 | --- |
| 24 Dec 2024 10.57 | ₹00 | Down |
| 23 Dec 2024 11.58 | ₹100 | Up |
| 22 Dec 2024 12.06 | ₹70 | --- |
| 21 Dec 2024 12.08 | ₹70 | Up |
| 20 Dec 2024 10.45 | ₹50 | --- |
| 19 Dec 2024 12.37 | ₹50 | Up |
| 18 Dec 2024 11.54 | ₹00 | --- |
| 17 Dec 2024 12.13 | ₹00 | --- |
FAQs
Solar91 Cleantech IPO Current GMP is ₹00.
Solar91 Cleantech IPO Expected Returns is 00%.
Solar91 Cleantech IPO estimated listing price is ₹195.