Solarworld Energy Solutions Sets IPO Opens On September 23 With A Price Band Of ₹333-351

New Delhi, September 18: The Initial Public Offering (IPO) of Solarworld Energy Solutions Limited is set to open on September 23. Investors wanting to apply to the issue can use their net Banking for applying through ASBA or can apply through an UPI mandate.

Solarworld Energy Solutions Limited is a leading Indian company in the renewable energy sector, specialising in providing solar energy solutions. The company was established on 17th July 2013 and has its headquarters in New Delhi, India.

Issue Size of ₹490.00 Crores With a Price Band of ₹333-351

The issue size of the IPO is ₹490.00 crores, and the issue includes a fresh issue of 1.25 crore shares aggregating to ₹440.00 crores and offer for sale of 0.14 crore shares aggregating to ₹50.00 crores. The IPO closes on September 25, and the company has set a price band of ₹333-351 for the issue. The lot size is 42 shares, amounting to a minimum investment of ₹14,742 at the upper price band.

Share allotment is expected to be finalised on September 26, with September 29 fixed as the date for credit of shares and refund initiation. The shares are expected to list on NSE and BSE on September 30, 2025. Nuvama Wealth Management Ltd. is the book running lead manager while MUFG Intime India Pvt.Ltd. is the registrar of the issue.

Investment in Subsidiary Key Fundraising Motive

The company will primarily utilise the proceeds from the fresh issue to investment in its subsidiary, Kartik Solarworld. It will also use the proceeds for part-financing the establishment of a 1.2 GW Solar PV TopCon manufacturing facility in Pandhurna, Madhya Pradesh. The rest of the amount will be used for general corporate purposes.

Strong Financial Performance

Solarworld Energy Solutions Ltd. showed strong growth in FY25, with revenue rising by 9% and profit after tax (PAT) jumping 49% compared to FY24. As of March 31, 2025, the company reported assets of ₹598.02 crore, total income of ₹551.09 crore, and PAT of ₹77.05 crore. Its EBITDA stood at ₹106.75 crore, while net worth increased sharply to ₹309.07 crore. Reserves and surplus were at ₹272.00 crore, and total borrowing rose to ₹114.55 crore.

In comparison, in FY24, assets were ₹155.02 crore, income ₹505.50 crore, PAT ₹51.69 crore, EBITDA ₹71.09 crore, net worth ₹73.60 crore, reserves ₹73.28 crore, and borrowings ₹61.10 crore. For FY23, the company had assets of ₹120.43 crore, income ₹235.05 crore, PAT ₹14.84 crore, EBITDA ₹22.88 crore, net worth ₹21.91 crore, reserves ₹21.59 crore, and borrowings ₹64.67 crore.

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