Solex Energy Limited (SEL) has announced its IPO on Emerge, the National Stock Exchange’s platform for small and medium enterprises. The company is planning to issue 1,380,000 equity shares that are priced at Rs 52 per share and expected to raise a total of Rs 7.17 billion. A portion of these shares (72,000) is being reserved for subscription by Beeline Broking Limited. Swastika Investmart Limited has been designated as the lead manager for the IPO. SEL plans to use the proceeds for working capital and general corporate purposes.