SOLARIUM GREEN ENERGY LIMITED

Corporate Identification Number: U31909GJ2022PLC129634

Our Company was originally formed as a Limited Liability Partnership in the name and style of Solarium Green Energy LLR under the provisions of the Limited Liability Partnership Act, 2008, on December 17, 2015, vide certificate of incorporation issued by Registrar of Companies, Ahmedabad. Later on, Solarium Green Energy LLP was converted to a Private Limited company under Part I chapter XXI of the Companies Act, 2013, under the name of Solarium Green Energy Private Limited and received certificate of incorporation from Central registration Center, Registrar of Companies dated February 24, 2022. Subsequently, our Company was converted into a public limited company pursuant to a special resolution passed by our Shareholders at an Extra-ordinary General Meeting held on April 11, 2024, and the name of Company was converted to Solarium Green Energy Limited and a fresh certificate of incorporation consequent upon conversion dated June 21, 2024, was issued by the Central Processing Centre, Registrar of Companies. For further details, see "History and Certain Corporate Matters" beginning on page 167 of the Prospectus.

INITIAL PUBLIC ISSUE OF 54,99,600 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH OF SOLARIUM GREEN ENERGY LIMITED ("SOLARIUM", "SGEL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 191.00/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS.181.00/- PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO RS. 10,504.24 LAKHS ("THE ISSUE"), OF WHICH 2,86,800 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH FOR CASH AT A PRICE OF RS. 191.00/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 181.00/- PER EQUITY SHARE AGGREGATING TO RS. 547.79 LAKHS WAS RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THE MARKET MAKER RESERVATION PORTION i.e. NET ISSUE OF 52,12,800 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT A PRICE OF RS. 191.00/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 181.00/- PER EQUITY SHARE AGGREGATING TO RS. 9,956.45 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE CONSTITUTED 26.38% AND 25.00%, RESPECTIVELY, OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH

1. Our revenues are highly dependent on our operations in the geographical region of the State of Gujarat. Any adverse development affecting our operations in this region could have an adverse impact on our business, financial condition and results of operations;

2. We were engaged in the manufacturing of Poly crystal line Solar Module from year 2018, which was put on halt in February, 2024, due to reforms in Approved List of Modules and Manufacturers of Solar Photovoltaic Modules by Ministry of New & Renewable Energy. Any such regulatory changes or change by Ministry of New & Renewable Energy or any other government authority in policy in relation to solar modules or ancillary products may affect the company's operations, cash flows and financial conditions.

3. Our business is dependent on few numbers of clients. Our Top 10 customers contributed 40.76%, 41.01%, 25.98% and 39.71% of revenue from operations in period/financial year ended on September 30, 2024, March 31, 2024,2023 and 2022, respectively. The loss of any of these clients could have an adverse effect on our business, financial condition, results of operations and cash flows.

4. Several of our key raw materials and components are sourced from a limited group of suppliers, which exposes us to supplier concentration risks. Any restriction in supply or defects in quality could cause delays in project construction or implementation and impair our ability to provide our services to clients at a price that is profitable to us, which could have a material adverse effect on our business, financial condition and results of operations.

5. We are exposed to risks associated with time and cost overruns, delays or underestimations of our costs of construction, which may affect the economic viability of our renewable energy projects.

6. We may be unable to accurately estimate costs under Lumpsum turnkey contracts, tail to maintain the quality under our turnkey contracts and we may experience delays in completing the construction of solar power projects, which may increase our construction costs and working capital requirements, and may have a material adverse effect on our financial condition, cash How and results of operations.

7. We as well as our Promoters may be involved in certain legal proceedings, which may materially and adversely affect our business financial condition and results of operations.

8. Orders in our order book may be delayed, modified or cancelled, and letters of intent may be withdrawn or may not translate to confirmed orders, which may have a material adverse effect on our business, results of operations and financial condition.

9. Our Company has experienced negative cash flow in the past and may continue to do so in future, which could have a material adverse effect on our business, prospects, financial condition, cash flows and results of operations.

10. We have in the past entered into a number of related party transactions and may continue to enter into related party transactions in the future on an arm's length basis, and there can be no assurance that we could not have achieved more favorable terms if such transactions had not been entered into with related parties.

11. The Merchant Banker associated with the Issue has handled 57 public Issue out of which 2 Issue closed below Issue price on listing date below are the details;

12. Average cost of acquisition of Equity Shares held by the Promoters is mentioned below:

*The average cost of acquisition of Equity Shares by our Promoters has been calculated by taking into account the amount paid by them to acquire Shares and Shares allotted to them and as reduced by amount received on sell of shares i.e. net of sale consideration is divided by net quantity of shares acquired.

This Issue was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 229 of the SEBIICDR Regulations and in compliance with Regulation 253 of the SEBIICDR Regulations wherein not more than 50.00% of the Net Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers (‘QIBs") (the 'QIB Portion'), provided that our Company in consultation with the BRLM allocated up to 60.00% of the QIB Portion to Anchor Investors on a discretionary basis (‘Anchor Investor Portion'). One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations. Further. 5.00% of the Net QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion was made available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5.00% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15.00% of the Net Issue was made available for allocation on a proportionate basis to Non-lnstitutional Investors and not less than 35.00% of the Net Issue was made available for allocation to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Issue Price. All Potential Bidders, other than Anchor Investors, were required to participate in the Issue by mandatorily utilising the Application Supported by Blocked Amount (‘ASBA') process by providing details of their respective ASBA Account (as defined hereinafter) in which the corresponding Bid Amounts were blocked by the Self Certified Syndicate Banks ("SCSBs") or under the UPI Mechanism, to the extent of respective Bid Amounts. Anchor Investors were not permitted to participate in the Issue through the ASBA process. For details, please refer to the chapter titled ‘Issue Procedure' on page 253 of the Prospectus.

The bidding for Anchor investors was opened and closed on Wednesday, February 05, 2025. The company received 15 Anchor Investors application for 24,88,800 Equity Shares. The Anchor Investor Allocation Price was finalized at Rs. 191.00 per Equity Share. A total of 15,63,000 Equity Shares were allotted under the Anchor Investor portion aggregating to Rs. 29,85,33,000.

The issue (excluding Anchor Investor Portion) received 16,721 applications for 3,25,41,600 Equity Shares (before rejections and after removing Multiple/Duplicate bids, and Bid not Banked) resulting in 8.27 times subscription (including reserved portion of market maker). The Details of the total Applications received in the issue from various categories are as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on Tuesday. February 11, 2025.

1) Allocation to Retail Individual Investors (After Rejections & Withdrawal): The Basis of Allotment to the Retail Individual Investors, who have bid at cutoff Price or at or above the Issue Price of Rs. 191/- per equity shares, was finalized in consultation with BSE. The category was subscribed by 4.92 times i.e. for 89,82.000 Equity Shares. Total number of shares allotted in this category is 18.24.600 Equity Shares to 3.041 successful applicants. The category wise details of the Basis of Allotment as under:

2) Allocation to Non-lnstitutional Investors (After Rejections & Withdrawal): The Basis of Allotment to Other than Retail Individual Investors, who have bid at Issue Price of Rs. 191/- per equity shares or above, was finalized in consultation with BSE. The category was subscribed by 18.03 times i.e. for 1.41.05.400 Equity Shares. The total number of shares allotted in this category is 7.82.400 Equity Shares to 487 successful applicants. The category wise details of the Basis of Allotment are as under:

3) Allocation to QIBs excluding Anchor Investors (After Rejections & Withdrawal): The Basis of Allotment to QIBs. who have bid at Issue Price of Rs. 191/- per Equity Shares or above, was finalized in consultation with BSE. The category was subscribed by 8.55 times i.e. for 89,16,600 Equity shares. The total number of shares allotted in this category is 10,42,800 Equity Shares to 21 successful applicants. The category wise details of the Basis of Allotment are as under:

4) Allocation to Anchor Investors (After Rejections & Withdrawal): The Company in consultation with the BRLM has allotted 15,63,000 Equity Shares to 15 Anchor Investors at Anchor Investor Issue Price of Rs. 191/- per Equity Shares in accordance with the SEBIICDR Regulations. The category wise details of the Basis of Allotment are as under:

5) Allocation to Market Maker (After Rejections & Withdrawal): The Basis of Allotment to Market Maker who have bid at Issue Price of Rs. 191/- per Equity Shares or above, was finalized in consultation with BSE. The category was subscribed by 1.00 times i.e. for 2,86,800 Equity shares. The total number of shares allotted in this category is 2,86,800 Equity Shares. The category wise details of the Basis of Allotment are as under:

The Board of Directors of the Company on February 11,2025, has taken on record the Basis of Allotment of Equity Shares as approved by BSE Limited and has allotted the Equity Shares to various successful bidders. The Allotment Advices-cum-lntimations and/or notices have been forwarded to the email ids and/or address of the Applicants as registered with the depositories/as filled in the application form. Further, the instructions to Self-Certified Syndicate Banks for unblocking the funds & transfer to Public Issue Account have been issued on or before February 12.2025 and payment to non-syndicate brokers has been issued on or before February 12, 2025. In case the same is not received within two working days, investors may contact at the address given below.

The equity shares allotted to the successful allottees have been uploaded on February 12,2025 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with BSE Limited on February 12, 2025. The Company has received the listing and trading approval from BSE Limited and trading will commence on February 13, 2025.

The details of the allotment made would also be hosted on the website of the Registrar to the issue. MUFG INTIME INDIA PRIVATE LIMITED (Formerly Link In time India Private Limited) at www.in.mpms.mufQ.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicants, serial number of the Bid cum Application Form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below:

Solarium Green Energy Limited is proposing, subject to market conditions, public issue of its equity shares and had filed the Prospectus with the Registrar of Companies, Ahmedabad. The Prospectus is available on the website of SEBI at www.sebi.gov.in. the website of the Book Running Lead Manager at www,beelinemb.com. website of the BSE at www.bseindia.com and website of Issuer Company at www.solariumenerQv.in: Investors should note that investment in Equity Shares involves a high degree of risk. For details, investors shall refer to and rely on the Prospectus including the section titled ‘Risk Factors'' beginning on page 27 of the Prospectus, which has been filed with ROC. The Equity Shares have not been and will not be registered under the US Securities Act (the 'Securities Act') or any state securities law in United States and may not be Issued or sold within the United States or to, or for the account or benefit of, ‘U.S. persons' (as defined in the Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act of 1933.