ENA MSME 2024-12-23 17:46:21 <p><span style="font-size:14px"><strong>New Delhi, Dec 23 (KNN)</strong> The Bombay Stock Exchange (BSE) has postponed the initial public offering of Solar91 Cleantech, a Rajasthan-based solar energy solutions provider, following complaints that require further examination.</span></p> <p><span style="font-size:14px">The IPO, which was scheduled for anchor investor bidding on December 23 and public subscription on December 24, has been delayed until further notice.</span></p> <p><span style="font-size:14px">The Rs 106-crore public offering joins a growing list of small and medium enterprise (SME) IPOs facing increased scrutiny from the exchange, with companies like Trafiksol and C2C Advanced Systems having undergone similar examinations in recent times.</span></p> <p><span style="font-size:14px">The BSE's decision came in response to various queries raised by complainants in the media, prompting a more thorough review of the offering.</span></p> <p><span style="font-size:14px">Solar91 Cleantech, established in 2015 by four IIT graduates - Saurabh Vyas, Prateek Agrawal, Dhawal Gaurang Vasavada, and Sandeep Gurnani - has built a significant presence in the renewable energy sector.</span></p> <p><span style="font-size:14px">The company has successfully commissioned 191 solar power plants across 13 Indian states and one in Kenya, Africa, achieving a total capacity exceeding 94 megawatts through both Engineering, Procurement, and Construction (EPC) and Independent Power Producer (IPP) models.</span></p> <p><span style="font-size:14px">Narnolia Financial Services is serving as the merchant banker for the proposed public offering.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40362 https://knnindia.co.in/news/newsdetails/msme/bse-withholds-solar91-cleantechs-rs-106-crore-sme-ipo 2024-12-23 17:46:21 knnindia.co.in