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Solex Energy Limited’s IPO Opens on 22 January 2018

Business Wire IndiaAnand based Solex Energy Limited (SEL), an existing, profit making company engaged into manufacturing of renewable energy products/ solar based products, plans to open its initial public offering (IPO) on 22 January, 2018. The Public issue will be of 13,80,000 equity shares of face value of Rs. 10 each for cash at a price of Rs. 52 per equity share aggregating Rs. 717.60 lakhs. Of these, 72,000 shares will be reserved for subscription by market maker. The net issue will constitute 26.48% of the fully diluted post-issue paid up equity share capital of the Company. The shares would be listed on NSE SME Platform i.e. NSE EMERGE. The IPO will close on 25 January, 2018. Swastika Investmart Limited is the Lead Manager to the Issue and Beeline Broking Limited is the Market Maker to the Issue. Company will utilized the IPO proceed to meet the working capital requirement and General Corporate purpose.
Solex Energy Limited was incorporated in year 2014. It is Anand, Gujarat based company. Company is involved in the business to provide Renewable Energy Solutions. Specially company provides Solar Power Plant, Solar Rooftop System & Solar Photovoltaic Module, Solar CFL /LED Street lighting system, Solar Lantern, Solar Petrol Station, Solar Mobile Tower, Solar Water Pumping system-Surface, Solar Water Pumping System Submersible, Solar Water Heater (ETC), Gas Fired Water Heater etc. products in the market. Promoter of Company is Mr. Kalpeshkumar Ramanbhai Patel, who is having experience of more than 24 years in the renewable energy industry.
The Company’s strengths include providing solar products, Delivery of Large volumes, process managed by high end technology and standardized ISO 14001:2015 Certification, ISO 9001:2015 Certification, OHSAS 18001:2007 and CE MARK CERTIFIED offering systems of high quality and reliability. Solex modules are TUV certified & tested by the UL India Pvt. Ltd. and comply in accordance with the standards.
SEL, based on its Financial Statements, has achieved the revenues from operations of Rs. 3449.60 lakhs and Rs. 4662.14 lakhs and net profit was Rs. 91.64 lakhs and Rs. 38.64 lakhs for the financial years ended 2017 and 2016 respectively. The Company has achieved Revenue of Rs. 635.49 Lakhs and PAT of Rs. 30.87 Lakhs during 4 months ended July 31, 2017.