Himalayan Solar IPO Subscription Day 1: Issue Subscribed 0.51 Times

Mumbai, September 25: Himalayan Solar IPO received bids for 28,20,000 shares against 55,21,200 shares offered to the public on the first day of bidding, taking the overall subscription to 0.51 times.

The QIB (Ex Anchor) category received the strongest demand, with subscription of 0.85 times. The NII portion was subscribed 0.42 times, while individual investors subscribed 0.51 times of the shares reserved for them.

Within the NII segment, the portion for applications above ₹10 lakh was subscribed 0.62 times, while the portion for applications below ₹10 lakh was subscribed 0.04 times.

The Himalayan Solar IPO opened for subscription on September 25, 2026, and will remain open until September 29, 2026.

Himalayan Solar IPO Subscription Status

The QIB (Ex Anchor) portion received bids for 4,28,400 shares against 5,02,800 shares available to QIB investors excluding the anchor portion. The category was subscribed 0.85 times.

The NII category attracted bids for 7,98,000 shares against 18,79,200 shares on offer, resulting in a subscription of 0.42 times.

Within the NII segment, the bNII category, covering applications above ₹10 lakh, was subscribed 0.62 times, with bids for 7,75,200 shares against 12,52,800 shares offered.

The sNII category, covering applications below ₹10 lakh, was subscribed 0.04 times, receiving bids for 22,800 shares against 6,26,400 shares available.

The individual investors category received bids for 15,93,600 shares against 31,39,200 shares reserved for the segment, taking the subscription to 0.51 times.

Overall, investors bid for 28,20,000 shares against 55,21,200 shares offered to the public. The total amount of bids stood at around ₹29.046 crore, based on the upper end of the price band.

The issue had received 674 applications as of the latest update.

The subscription figures were updated at 5:39 PM on September 25, 2026.

Day-wise Himalayan Solar IPO Subscription

Date	QIB (Ex Anchor)	NII	NII (> ₹10L)	NII (< ₹10L)	Individual Investors	Total
Sep 25 (Day 1)	0.85x	0.42x	0.62x	0.04x	0.51x	0.51x

The IPO will continue to accept applications through September 29, 2026.

Himalayan Solar IPO Details

Himalayan Solar IPO is a ₹68.03 crore book-built issue, comprising a fresh issue of 58.91 lakh shares aggregating to ₹60.68 crore and an offer for sale of 7.14 lakh shares aggregating to ₹7.35 crore.

The IPO has a price band of ₹98 to ₹103 per share and a lot size of 1,200 shares. At the upper end of the price band, the minimum investment required for an individual investor is ₹2,47,200, equivalent to 2,400 shares or two lots.

For HNI investors, the minimum application is 3 lots, or 3,600 shares, requiring an investment of ₹3,70,800.

The issue opened for subscription on September 25, 2026, and will close on September 29, 2026.

Himalayan Solar is proposed to list on the NSE SME platform, with a tentative listing date of October 5, 2026.

Finshore Management Services Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar to the issue. Anant Securities is the market maker.

Himalayan Solar IPO Issue Size

The total issue comprises 66,04,800 shares, including 3,31,200 shares reserved for the market maker.

Particulars	Details
Total Issue Size	66,04,800 shares
Fresh Issue	58,91,100 shares
Fresh Issue Amount	₹60.68 crore
Offer for Sale	7,14,000 shares
Offer for Sale Amount	₹7.35 crore
Market Maker Reservation	3,31,200 shares
Net Offered to Public	62,73,600 shares
Face Value	₹10 per share
Price Band	₹98 to ₹103
Lot Size	1,200 shares
Issue Type	Bookbuilding IPO
Listing Platform	NSE SME

Himalayan Solar IPO Reservation

Himalayan Solar IPO comprises a total issue size of 66,04,800 shares. After excluding the market maker portion, 62,73,600 shares are available to public investors.

The issue has been reserved across QIB, NII and individual investor categories as follows:

Investor Category	Shares	% of Net Issue	% of Total Issue
QIB	12,55,200	20.01%	19.00%
NII (HNI)	18,79,200	29.95%	28.45%
Retail	31,39,200	50.04%	47.53%
Market Maker	3,31,200	—	5.01%
Total	66,04,800	100.00%	100.00%

The QIB allocation includes 7,52,400 shares reserved for anchor investors, representing 11.39% of the total issue.

Himalayan Solar IPO Lot Size

Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereafter.

Application	Lots	Shares	Amount
Individual Investors (Min)	2	2,400	₹2,47,200
Individual Investors (Max)	2	2,400	₹2,47,200
S-HNI (Min)	3	3,600	₹3,70,800
S-HNI (Max)	8	9,600	₹9,88,800
B-HNI (Min)	9	10,800	₹11,12,400

Himalayan Solar IPO Anchor Investors

Himalayan Solar IPO raised ₹7.75 crore from anchor investors ahead of the public issue.

The anchor bidding took place on September 24, 2026, with 7,52,400 shares allotted to anchor investors.

The lock-in period for 50% of the anchor shares ends on October 30, 2026, while the lock-in period for the remaining shares ends on December 29, 2026.

Himalayan Solar IPO Allotment and Listing

The Himalayan Solar IPO is currently open for subscription and will close on September 29, 2026.

The tentative Himalayan Solar IPO allotment date is September 30, 2026. Refunds are scheduled for October 1, while shares are expected to be credited to successful applicants on the same day.

The IPO is tentatively scheduled to list on the NSE SME platform on October 5, 2026.

Himalayan Solar IPO Timeline

Event	Date
IPO Open	September 25, 2026
IPO Close	September 29, 2026
Allotment	September 30, 2026
Refund	October 1, 2026
Credit of Shares	October 1, 2026
Listing	October 5, 2026

About Himalayan Solar Ltd.

Incorporated in 2015, Himalayan Solar Ltd. specialises in providing integrated turnkey solar energy solutions, offering services including design, manufacturing, supply, installation and commissioning of a wide range of solar products.

The company primarily focuses on Solar Water Pumping Systems and also provides solar energy solutions for Solar Inverter Charge Systems and Solar Rooftop Power Systems.

Conclusion

The Himalayan Solar IPO opened for subscription on September 25 and was subscribed 0.51 times on Day 1.

The QIB (Ex Anchor) segment recorded subscription of 0.85 times, while the NII category stood at 0.42 times. Individual investors subscribed 0.51 times of the shares reserved for them.

Overall, investors bid for 28,20,000 shares against 55,21,200 shares offered to the public.

The IPO will remain open until September 29, with the Himalayan Solar IPO allotment scheduled for September 30 and the tentative NSE SME listing slated for October 5, 2026.

Source:

• https://www.nseindia.com/market-data/issue-information?symbol=HIMALAYAN&series=SME&type=Active