Solarium Green Energy Limited has reported no deviation in the utilization of funds raised through its Initial Public Offering (IPO) for the half-year ended September 30, 2025. The company's monitoring agency, Acuite Ratings Research Limited, confirmed that the fund usage aligns with the stated objectives in the offer document.

IPO Fund Details

Solarium Green Energy raised INR 105.04 crores through its public issue held from February 6-10, 2025. After deducting issue expenses of INR 8.78 crores, the net proceeds amounted to INR 96.26 crores.

Fund Utilization Breakdown

The company has utilized the IPO proceeds as follows:

Key Highlights

• Working Capital: Out of the allocated INR 71.00 crores, the company has utilized INR 15.10 crores for working capital requirements.
• General Corporate Purposes: The entire allocation of INR 25.26 crores has been fully utilized.
• Total Utilization: As of September 30, 2025, Solarium Green Energy has used INR 40.36 crores of the IPO proceeds.

Unutilized Funds

The remaining INR 55.90 crores of unutilized funds have been deployed in fixed deposits with HDFC Bank Limited. These deposits are earning a 7.40% return and are set to mature on February 15, 2026.

Monitoring Agency's Comments

Acuite Ratings Research Limited, serving as the monitoring agency, reported no deviation from the stated objectives of the IPO. The agency confirmed that the company's fund utilization is in line with the disclosures made in the offer document.

Management Statement

The Board of Directors of Solarium Green Energy Limited has not reported any changes or additional comments regarding the fund utilization, indicating their agreement with the monitoring agency's report.

This report demonstrates Solarium Green Energy's commitment to transparent financial practices and adherence to its stated objectives in utilizing the IPO proceeds. Investors can take confidence in the company's disciplined approach to fund management and its progress in deploying capital for working capital needs and general corporate purposes.

Solarium Green Energy Limited , a key player in India's renewable energy sector, has made significant strides in expanding its market presence. The company recently announced the signing of multiple Memorandums of Understanding (MOUs) for the supply of solar photovoltaic modules, marking a substantial boost to its order book. Additionally, the company has secured three new purchase orders totaling approximately ₹18.62 crore (exclusive of GST) for solar module supply.

Key Highlights of the Agreements

Breakdown of Supply Agreements

Technical Specifications and Delivery Details

• Module Type: G12 and G12R series solar modules
• Power Output: Exceeding 720WP (G12) and 620WP (G12R)
• Estimated Supply Volume: Approximately 1,41,000 units
• Manufacturing Facility: Upcoming plant expected to be commissioned by January 2026
• Unit Price: ₹14 per watt (Ex-works basis)
• Payment Terms: 10% advance, 90% payable prior to dispatch

New Purchase Orders

Solarium Green Energy has received three new purchase orders:

1. Two orders from Suntek Energy Systems Private Limited (Truzon Solar):
   • ₹12.18 crore for 715wp N-Type i-TOPCon Bifacial Dual Glass Monocrystalline Modules N-DCR
   • ₹31.53 lakh for the same type of modules
2. One order from Solluz Energy Private Limited:
   • ₹6.12 crore for 715Wp N-Type Bifacial Solar PV Modules for a Rajasthan project

These orders involve the supply of 21,516 modules combined, with delivery schedules spanning from October to December 2025. Payment terms include advance payments ranging from 10% and milestone-based payments upon dispatch and delivery.

Strategic Implications

These agreements and new purchase orders represent significant milestones for Solarium Green Energy, demonstrating strong market demand for their advanced solar module technology. The MOUs and additional orders are expected to contribute positively to the company's future order book, revenue visibility, and overall business growth.

Market Impact

The solar energy sector in India continues to show robust growth, with companies like Solarium Green Energy playing a crucial role in the country's renewable energy transition. These agreements and new orders not only strengthen Solarium's position in the market but also indicate a growing appetite for high-efficiency solar modules among Indian solar project developers.

As the renewable energy landscape evolves, such strategic partnerships and continuous inflow of orders are likely to become increasingly important, driving technological advancements and cost efficiencies in the solar power sector.