PNN
Mumbai (Maharashtra) [India], December 6: The Bombay Stock Exchange (BSE) has approved the Draft Red Herring Prospectus of Solar91 Cleantech Limited for IPO. The company is going public through an IPO to meet out the expenses for investment in its subsidiary for the development of solar projects as an Independent Power Producer (IPP), meet working capital requirements, cover general corporate purposes, and address issue expenses related to the Initial Public Offer. The company has plan to issue fresh Issue up to 54,36,000 equity shares, each with a face value of Rs10, in the forthcoming IPO.
About Solar91 Cleantech Limited:
Solar91 Cleantech Limited was established in 2015 by IIT alumni Prateek Agrawal (IIT Roorkee, 2013), Sandeep Gurnani (IIT Delhi, 2012), Saurabh Vyas (IIT Bombay, 2004), and Dhawal Vasavada (IIT Roorkee, 2011) with a vision to contribute to a clean energy-driven India. Headquartered in Jaipur, Rajasthan, the company specializes in providing turnkey EPC services to commercial and industrial clients across the country.
Solar91 has successfully commissioned nearly 80 MW of distributed solar projects across 13 Indian states and currently holds an order book exceeding 155 MW under the PM Kusum (C2 - Feeder Level Solarization) Scheme as an Independent Power Producer (IPP). The company has emerged as the lowest bidder in IPP projects in Karnataka and is actively developing solar parks for captive open-access consumers in Rajasthan and Karnataka.
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