Abhinav1217 Code might be open source, branding tradmarks mostly are never shared,
Solus holds a copyright on the Solus logo and the Solus tradename. With respect to Solus tradename, Solus protects the tradename in conjunction with "other acronyms or terminology", such as “Solus OS”, “Solus Operating System", “Solus Linux” and so on, and Solus protects Solus ISO's, which contain Solus branding ("The distribution of modified Solus ISOs, for commercial or non-commercial purposes, is not permitted.").
Abhinav1217 Is there any license restriction for ... building a distro based on Solus?
As @Staudey pointed out, use of the code (eopkg source code, for example) is regulated by licensing. I haven't read the licenses in detail, but source code can be used/modified in compliance with the licenses. From a quick look, I don't see much impediment in that direction, although, of course, Solus logos and tradenames would need to be removed before distribution, just as distros based on Ubuntu, for example, are required to remove all protected Ubuntu material before distribution.
Abhinav1217 If someone builds their distro using Solus technology, but not infrastructure, then I guess they would have to host a duplicate infrastructure pipeline, and duplicate a lot of work.
Absolutely. I hadn't thought about this aspect. And don't forget the resources (financial and otherwise) for ongoing maintenance of the distro. Having said that, I don't know what restrictions, if any, Solus has placed on use of the Solus repository and/or packages contained in the Solus repository. It is something that you would have to look into.