Solarworld Energy Solutions IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Sep 23 to Sep 25 2025
Price Band
₹333 - 351
Current GMP
₹388.50 (+10.68%)
Subscription
68.49 times
IPO Details
| IPO Date | September 23, 2025 to September 25, 2025 |
| Listing Date | September 30, 2025 |
| Face Value | ₹5 per share |
| Issue Price Band | ₹333 to ₹351 per share |
| Issue Price Final | ₹351 per share |
| Lot Size | 42 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,39,60,113 shares (aggregating up to ₹490.00 Cr) |
| Fresh Issue | 1,25,35,612 shares (aggregating up to ₹440.00 Cr) |
| Offer for Sale | 14,24,501 shares of ₹5 (aggregating up to ₹50.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,41,37,042 shares |
| Share Holding Post Issue | 8,66,72,654 shares |
IPO Date
September 23, 2025 to September 25, 2025
Listing Date
September 30, 2025
Face Value
₹5 per share
Issue Price Band
₹333 to ₹351 per share
Issue Price Final
₹351 per share
Lot Size
42 Shares
Sale Type
Fresh Capital-cum-Offer for Sale
Total Issue Size
1,39,60,113 shares (aggregating up to ₹490.00 Cr)
Fresh Issue
1,25,35,612 shares (aggregating up to ₹440.00 Cr)
Offer for Sale
14,24,501 shares of ₹5 (aggregating up to ₹50.00 Cr)
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Share Holding Pre Issue
7,41,37,042 shares
Share Holding Post Issue
8,66,72,654 shares
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 74.24 |
| Non-Institutional Buyers | 68.21 |
| bNII (bids above ₹10L) | 66.45 |
| sNII (bids below ₹10L) | 71.72 |
| Retail Investors | 51.69 |
| Total ** | 68.49 |
Anchor Investors
1
QIB (Ex Anchor)
74.24
Non-Institutional Buyers
68.21
bNII (bids above ₹10L)
66.45
sNII (bids below ₹10L)
71.72
Retail Investors
51.69
Total **
68.49
Day Wise Sub
| Day | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 Sep 23, 2025 | 0.00 | 1.53 | 1.10 | 2.37 | 4.81 | 1.29 |
| Day 2 Sep 24, 2025 | 0.02 | 5.83 | 3.88 | 9.75 | 14.37 | 4.21 |
| Day 3 Sep 25, 2025 | 74.24 | 68.21 | 66.45 | 71.72 | 51.69 | 68.49 |
DayDay 1
Sep 23, 2025
QIB (Ex Anchor)0.00
NII1.53
NII (> ₹10L)1.10
NII (< ₹10L)2.37
Retail4.81
Total1.29
DayDay 2
Sep 24, 2025
QIB (Ex Anchor)0.02
NII5.83
NII (> ₹10L)3.88
NII (< ₹10L)9.75
Retail14.37
Total4.21
DayDay 3
Sep 25, 2025
QIB (Ex Anchor)74.24
NII68.21
NII (> ₹10L)66.45
NII (< ₹10L)71.72
Retail51.69
Total68.49
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 30-09-2025 | 351.00 | 40(11.40%) | 391 |
| 29-09-2025 | 351.00 | 40(11.40%) | 391 |
| 28-09-2025 | 351.00 | 43(12.25%) | 394 |
| 27-09-2025 | 351.00 | 43(12.25%) | 394 |
| 26-09-2025 | 351.00 | 40(11.40%) | 391 |
| 25-09-2025 | 351.00 | 52(14.81%) | 403 |
| 24-09-2025 | 351.00 | 56(15.95%) | 407 |
| 23-09-2025 | 351.00 | 65(18.52%) | 416 |
| 22-09-2025 | 351.00 | 65(18.52%) | 416 |
| 21-09-2025 | 351.00 | 68(19.37%) | 419 |
| 20-09-2025 | 351.00 | 56(15.95%) | 407 |
| 19-09-2025 | 351.00 | 33(9.40%) | 384 |
| 18-09-2025 | 351.00 | 0(0.00%) | 351 |
Date30-09-2025
Price351.00
GMP40(11.40%)
Estimate List Price391
Date29-09-2025
Price351.00
GMP40(11.40%)
Estimate List Price391
Date28-09-2025
Price351.00
GMP43(12.25%)
Estimate List Price394
Date27-09-2025
Price351.00
GMP43(12.25%)
Estimate List Price394
Date26-09-2025
Price351.00
GMP40(11.40%)
Estimate List Price391
Date25-09-2025
Price351.00
GMP52(14.81%)
Estimate List Price403
Date24-09-2025
Price351.00
GMP56(15.95%)
Estimate List Price407
Date23-09-2025
Price351.00
GMP65(18.52%)
Estimate List Price416
Date22-09-2025
Price351.00
GMP65(18.52%)
Estimate List Price416
Date21-09-2025
Price351.00
GMP68(19.37%)
Estimate List Price419
Date20-09-2025
Price351.00
GMP56(15.95%)
Estimate List Price407
Date19-09-2025
Price351.00
GMP33(9.40%)
Estimate List Price384
Date18-09-2025
Price351.00
GMP0(0.00%)
Estimate List Price351
IPO Important Dates
| IPO Open Date | Tue, Sep 23, 2025 |
| IPO Close Date | Thu, Sep 25, 2025 |
| Tentative Allotment | Fri, Sep 26, 2025 |
| Initiation of Refunds | Mon, Sep 29, 2025 |
| Credit of Shares to Demat | Mon, Sep 29, 2025 |
| Tentative Listing Date | Tue, Sep 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Sep 25, 2025 |
IPO Open Date
Tue, Sep 23, 2025
IPO Close Date
Thu, Sep 25, 2025
Tentative Allotment
Fri, Sep 26, 2025
Initiation of Refunds
Mon, Sep 29, 2025
Credit of Shares to Demat
Mon, Sep 29, 2025
Tentative Listing Date
Tue, Sep 30, 2025
Cut-off time for UPI mandate confirmation
5 PM on Thu, Sep 25, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 42 | ₹14,742 |
| Retail (Max) | 13 | 546 | ₹1,91,646 |
| S-HNI (Min) | 14 | 588 | ₹2,06,388 |
| S-HNI (Max) | 67 | 2,814 | ₹9,87,714 |
| B-HNI (Min) | 68 | 2,856 | ₹10,02,456 |
ApplicationRetail (Min)
Lots1
Shares42
Amount₹14,742
ApplicationRetail (Max)
Lots13
Shares546
Amount₹1,91,646
ApplicationS-HNI (Min)
Lots14
Shares588
Amount₹2,06,388
ApplicationS-HNI (Max)
Lots67
Shares2,814
Amount₹9,87,714
ApplicationB-HNI (Min)
Lots68
Shares2,856
Amount₹10,02,456
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 598.02 | 155.02 | 120.43 |
| Total Income | 551.09 | 505.50 | 235.05 |
| Profit After Tax | 77.05 | 51.69 | 14.84 |
| EBITDA | 106.75 | 71.09 | 22.88 |
| NET Worth | 309.07 | 73.60 | 21.91 |
| Reserves and Surplus | 272.00 | 73.28 | 21.59 |
| Total Borrowing | 114.55 | 61.10 | 64.67 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 2025598.02
31 Mar 2024155.02
31 Mar 2023120.43
Period EndedTotal Income
31 Mar 2025551.09
31 Mar 2024505.50
31 Mar 2023235.05
Period EndedProfit After Tax
31 Mar 202577.05
31 Mar 202451.69
31 Mar 202314.84
Period EndedEBITDA
31 Mar 2025106.75
31 Mar 202471.09
31 Mar 202322.88
Period EndedNET Worth
31 Mar 2025309.07
31 Mar 202473.60
31 Mar 202321.91
Period EndedReserves and Surplus
31 Mar 2025272.00
31 Mar 202473.28
31 Mar 202321.59
Period EndedTotal Borrowing
31 Mar 2025114.55
31 Mar 202461.10
31 Mar 202364.67
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| Solarworld Energy Solutions Limited | 10.68 | 10.68 | 41.69 | 40.27 | ||
| Sterling And Wilson Renewable Energy Limited | 3.49 | 3.49 | 42.59 | 76.48 | 8.78 | 6.33 |
| Kpi Green Energy Limited | 16.23 | 16.09 | 133.57 | 30.57 | 18.77 | 3.69 |
| Waaree Renewable Technologies Limited | 22.00 | 21.95 | 43.64 | 47.32 | 65.29 | 24.14 |
| Gensol Engineering Limited | ||||||
| Oriana Power Limited | 79.52 | 79.52 | 254.75 | 29.01 | 47.59 | 9.08 |
Company NameSolarworld Energy Solutions Limited
EPS (Basic)10.68
EPS (Diluted)10.68
NAV (per share) (Rs)41.69
P/E (x)
RoNW (%)40.27
P/BV Ratio
Company NameSterling And Wilson Renewable Energy Limited
EPS (Basic)3.49
EPS (Diluted)3.49
NAV (per share) (Rs)42.59
P/E (x)76.48
RoNW (%)8.78
P/BV Ratio6.33
Company NameKpi Green Energy Limited
EPS (Basic)16.23
EPS (Diluted)16.09
NAV (per share) (Rs)133.57
P/E (x)30.57
RoNW (%)18.77
P/BV Ratio3.69
Company NameWaaree Renewable Technologies Limited
EPS (Basic)22.00
EPS (Diluted)21.95
NAV (per share) (Rs)43.64
P/E (x)47.32
RoNW (%)65.29
P/BV Ratio24.14
Company NameGensol Engineering Limited
EPS (Basic)
EPS (Diluted)
NAV (per share) (Rs)
P/E (x)
RoNW (%)
P/BV Ratio
Company NameOriana Power Limited
EPS (Basic)79.52
EPS (Diluted)79.52
NAV (per share) (Rs)254.75
P/E (x)29.01
RoNW (%)47.59
P/BV Ratio9.08
IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,04,70,085 (75.00%) | NA |
| − Anchor Investor Shares Offered | 62,82,051 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 41,88,034 (30.00%) | NA |
| NII (HNI) Shares Offered | 20,94,017 (15.00%) | NA |
| − bNII > ₹10L | 13,96,011 (10.00%) | 2,374 |
| − sNII < ₹10L | 6,98,006 (5.00%) | 1,187 |
| Retail Shares Offered | 13,96,011 (10.00%) | 33,238 |
| Total Shares Offered | 1,39,60,113 (100.00%) |
Investor CategoryQIB Shares Offered
Shares Offered1,04,70,085 (75.00%)
Maximum AllotteesNA
Investor Category− Anchor Investor Shares Offered
Shares Offered62,82,051 (45.00%)
Maximum AllotteesNA
Investor Category− QIB (Ex. Anchor) Shares Offered
Shares Offered41,88,034 (30.00%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered20,94,017 (15.00%)
Maximum AllotteesNA
Investor Category− bNII > ₹10L
Shares Offered13,96,011 (10.00%)
Maximum Allottees2,374
Investor Category− sNII < ₹10L
Shares Offered6,98,006 (5.00%)
Maximum Allottees1,187
Investor CategoryRetail Shares Offered
Shares Offered13,96,011 (10.00%)
Maximum Allottees33,238
Investor CategoryTotal Shares Offered
Shares Offered1,39,60,113 (100.00%)
Maximum Allottees
Information about company
Incorporated in 2013, SolarWorld Energy Solutions Limited, is a solar energy solutions provider specializing in engineering, procurement, and construction (EPC) services for solar power projects.
Business Models: The company offers solar solutions through two models:
Capital Expenditure (CAPEX) Model:
Provides end-to-end solar project solutions, including design, installation, setup, and commissioning.
The ownership of the project remains with the customer.
Renewable Energy Service Company (RESCO) Model:
Customers can adopt solar power without any upfront investment.
Helps businesses reduce their carbon footprint with minimal financial burden.
On May 14, 2024, SolarWorld Energy Solutions Limited entered into an equity cooperation agreement with ZNSHINE PV-Tech Co. Ltd., a Bloomberg NEF tier-1 solar panel supplier from China. This partnership aims to establish a solar panel manufacturing facility.
The company's customer base includes SJVN Green Energy Limited, Haldiram Snacks Private Limited, Ethnic Food Manufacturing Private Limited, and Samiksha Solarworld Private Limited.
As of July 31, 2025, the company had 277 employees.
Competitive Strengths:
Established track record and strong in-house execution capabilities for end-to-end solar EPC solutions
Strong financial performance driven by asset light business model
Strong customer relationships built on reliable delivery of projects with a significant focus on quality.
Experienced management team and qualified personnel with significant industry experience.
Objectives of IPO
The Company Solarworld Energy Solutions IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
1
Investment in the Subsidiary, KSPL for partfinancing the establishment of the Pandhurana Project
575.30
2
General corporate purposes
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