Solarworld Energy IPO Subscribed 3.66x on Day 2, Retail Investors Lead with 12.64x Demand

New Delhi, September 24, 2025 – Solarworld Energy Solutions’ ₹490 crore IPO gained traction on the second day of bidding, as total subscription rose to 3.66 times. Retail once again dominated the market, while non-institutional demand also showed improvement.

Solarworld Energy IPO Subscriber Status (as of September 24 at 3:03 PM)

Solarworld Energy Solutions Ltd’s Initial Public Offer (IPO) saw stable retail investor demand during the second day of the issue, while institutional demand continued to remain low. Up until the cut-off date of September 24, 2025 (3:03 PM), the issue got subscribed 3.66 times at a total with bids of 2.81 crore out of the issue size of 76.78 lakh shares.

• Anchor Investors: Subscription of ₹220.50 crores via bids of 62.82 lakh shares.
• Qualified Institutional Buyers (QIBs other than anchors): Saw subscription merely at 0.01 times. Bids of just 57,246 were witnessed against the offered 41.88 lakh shares.
• Non-Institutional Investors (NIIs): Subscribed 4.97 times with 1.04 crore shares. Of this segment
  • bNII (Applications > ₹10 lakh): Subscribed 3.30.
  • sNII (issuances of less than ₹10 lakh): Subscription of 8.31 times with good demand from small HNI investors.
• Retail Investors: Witnessed a whopping 12.64 times subscription, bidding for 1.76 crore shares out of the 13.96 lakh reserved for the category.

As a whole, the issue registered 3,73,255 bids until Day 2.

Solarworld Energy IPO Key Details

The ₹490 crore initial public issue (IPO) also involves a fresh issue of ₹440 crore and an Offer For Sale (OFS) of ₹50 crore. The price band has been fixed at ₹333–₹351 per equity share. Bids are also allowed in multiples of 42 equity shares. The issue opens on September 23 and closes on September 25. The stock is slated to debut on the exchanges on September 30.

Solarworld Energy IPO Use of Proceeds

Proceeds will be utilized towards investing in subsidiary Kartik Solarworld for part-financing of a 1.2 GW Solar PV TopCon project at Pandhurana, Madhya Pradesh, and general corporate purposes.

Solarworld Energy IPO Lead Managers

The lead book-running managers are Nuvama Wealth Management Ltd and SBI Capital Markets Ltd.

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