Solarworld Energy Solutions IPO Subscribed 129% on Day 1, Retail Investors Lead with 4.81x Bids

New Delhi, September 23 (4:30 PM) – The ₹490 crore initial public offering (IPO) of Solarworld Energy Solutions received an encouraging response from retail investors, who oversubscribed their quota by 4.81 times. The overall issue was oversubscribed by 1.29 times at the end of the first day. The demand from NIIs was also quite healthy, but the QIBs stayed on the sidelines.

Solarworld Energy Solutions is a renewable energy company focused on providing sustainable power solutions, including solar modules, EPC services, and energy infrastructure projects.

Subscription Status

Anchor investors fully subscribed to their allotted portion, bringing in ₹220.5 crore. The Retail Investor category was the strongest, oversubscribed 4.81 times with bids for over 67.14 lakh shares against 13.96 lakh offered, contributing ₹235.68 crore. Non-institutional investors subscribed 1.53 times, led by strong NII participation (2.37x). However, the QIB category saw no demand (0.00x), indicating cautious sentiment from institutional players. In total, bids were placed for 99.22 lakh shares against 76.78 lakh offered, aggregating to ₹348.26 crore.

Key Highlights

The first day was dominated by individual investors who had already oversubscribed their quota by 4.81 times. The NIIs were also oversubscribed by 1.51 times, whereas the QIB participation was quite negligible. The overall performance of the issue was quite satisfactory at the end of the first day.

IPO Details

Solarworld Energy Solutions IPO of the company is valued at ₹490 crore, comprising a fresh issue of ₹440 crore and an OFS of ₹50 crore. The price band is set between ₹333 and ₹351 per share with a lot size of 42 shares. The subscription window runs from September 23 to 25, and the stock is expected to list on September 30.

Utilisation of Proceeds

The company plans to use the proceeds to invest in its subsidiary, Kartik Solarworld, for part-financing a 1.2 GW Solar PV TopCon facility in Pandhurana, Madhya Pradesh, as well as to meet general corporate needs.

Lead Managers

The issue is managed by Nuvama Wealth Management Ltd and SBI Capital Markets Ltd as book-running lead managers.

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