Solar 91 Cleantech unlisted share price

Price history

About

Solar91 Cleantech Limited is a Jaipur-based company that builds solar power plants. It was founded in 2015 by alumni of the Indian Institutes of Technology. It started as Solar91 Cleantech Private Limited and became a public limited company in 2024. The main business is EPC, which means engineering, procurement and construction. The company designs, builds, operates and maintains grid-connected and off-grid solar projects for commercial and industrial customers, who use them to offset their power consumption with renewable energy. Its filings also describe work under the PM Kusum scheme, a Government of India solar programme. The company is now moving towards an Independent Power Producer (IPP) model. It sets up a wholly owned subsidiary for each project, which owns the plant and sells power to the state distribution company under a power purchase agreement. In its draft offer document the company says it has secured bids for about 157MWac of such projects. On the numbers, the draft offer document gives consolidated restated figures. Revenue from operations was ₹4,277.35 lakh in FY24, against ₹3,758.13 lakh in FY23 and ₹4,157.02 lakh in FY22. Profit after tax was ₹233.45 lakh in FY24, against ₹20.33 lakh in FY23. Rajasthan alone gave 55.78% of FY24 revenue. The four founders are the promoters and hold 69.75% of the company before the proposed issue. Saurabh Vyas holds the largest stake at 27.90%. The company filed a draft red herring prospectus with BSE for an SME IPO of 54,36,000 equity shares, with Narnolia Financial Services as lead manager. IPO Guru does not have a listing date or price band for it. Unlisted shares of a company like this trade off-market between private buyers and sellers. Prices are indicative, not exchange-set, and the indicative price on this page is ₹468 per share with a lot size of 100 shares. This is information, not a recommendation.