Upcoming IPO: Solar91 Cleantech gets BSE nod for SME IPO launch
Live MintUpcoming IPO: Solar91 Cleantech on Friday, December 6 said Bombay Stock Exchange has approved the draft red herring prospectus for its initial public offer. Solar91 Cleantech, a solar plant installation company, plans to issue up to 54,36,000 equity shares, each with a face value of ₹10, in the upcoming IPO. It plans to utilise the funds raised via public issue to meet the expenses for investment in its subsidiary for the development of solar projects as an Independent Power Producer, meet working capital requirements, cover general corporate purposes, and address issue expenses related to the IPO. Solar91 Cleantech Financials Solar91 Cleantech reported a sharp increase of 1.048% in its consolidated net profit for the financial year 2023-2024 to ₹233.45 lakh from ₹20.33 lakh in the year-ago period.