Solarworld Energy Solutions IPO
Bookbuilding IPO | ₹490.00 Cr | Listing at BSE, NSE
IPO Open
Tue, Sep 23, 2025
IPO Close
Thu, Sep 25, 2025
Price Band
₹333.00 to ₹351.00
Market Cap (Pre-IPO)
₹3,042.21 Cr
IPO Details
| IPO Date | Sep 23, 2025 to Sep 25, 2025 |
| Listing Date | Sep 30, 2025 |
| Face Value | ₹5.00 per share |
| Price Band | ₹333.00 to ₹351.00 |
| Lot Size | 42 Shares (Minimum: ₹14,742.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹490.00 Crores |
| Total Shares Offered | 13,960,113 shares |
| Fresh Issue | 12,535,612 shares |
| Offer For Sale | 1,424,501 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 74.24x |
| NII | 68.21x |
| RII | 51.69x |
| Total | 68.49x |
Solarworld Energy Solutions IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 1,04,70,086 (75.00%) |
| Retail Shares Offered | 13,96,011 (10.00%) |
| NII Shares Offered | 20,94,016 (15.00%) |
Solarworld Energy Solutions IPO Lot Size
Investors can bid for a minimum of 42 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 42 | ₹14,742 |
| Retail (Max) | 13 | 546 | ₹191,646 |
| S-HNI (Min) | 14 | 588 | ₹206,388 |
| S-HNI (Max) | 67 | 2,814 | ₹987,714 |
| B-HNI (Min) | 68 | 2,856 | ₹1,002,456 |
Solarworld Energy Solutions Financial Information (Restated Consolidated)
Solarworld Energy Solutions Ltd.'s revenue increased by 9% and profit after tax (PAT) rose by 49% between the financial year ending with March 31, 2025 and March 31, 2024.
| 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 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 40.27% |
| ROCE (Return on Capital Employed) | 54.53% |
| Debt/Equity | 0.37 |
| RoNW (Return on Net Worth) | 40.27% |
| PAT Margin (Profit After Tax Margin) | 14.14% |
| EBITDA Margin | 19.60% |
| Price to Book Value | 0.00 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 10.39 | 8.89 |
| P/E (x) | 33.77 | 39.48 |
| Promoter Holding | 78.70% | 65.67% |
Company Promoters
- Kartik Teltia
- Rishabh Jain
- Mangal Chand Teltia
- Sushil Kumar Jain and Anita Jain are the company promoters.
Company Overview
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.
Company 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
Use of Proceeds
| 1) | Investment in the Subsidiary, KSPL for partfinancing the establishment of the Pandhurana Project | 575.30 |
| 2) | General corporate purposes | 101.68 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Solarworld Energy Solutions IPO Peer Comparison
Solarworld Energy Solutions peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Solarworld Energy Solutions Limited | 10.68 | 10.68 | 41.69 | 0.00 | 40.27 | 0.00 | - |
| 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | - |
| Oriana Power Limited | 79.52 | 79.52 | 254.75 | 29.01 | 47.59 | 9.08 | - |
Quick Info
| Sector | Renewable Energy, Power Generation/Distribution, and Engineering, Procurement, and Construction (EPC) |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹3,042.21 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Sep 23, 2025 |
| IPO Close | Sep 25, 2025 |
| Allotment Date | Sep 26, 2025 |
| Credit to Demat | Sep 29, 2025 |
| Listing Date | Sep 30, 2025 |
Lead Manager(s)
Nuvama Wealth Management Ltd.
Registrar
Description
- Solarworld Energy Solutions Ltd. IPO is a book build issue of ₹490.00 crores. The issue is a combination of 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.
- Solarworld Energy Solutions IPO bidding started from Sep 23, 2025 and ended on Sep 25, 2025. The allotment for Solarworld Energy Solutions IPO was finalized on Sep 26, 2025. The shares got listed on BSE, NSE on Sep 30, 2025.
- Solarworld Energy Solutions IPO price band is set at ₹351.00 per share . The lot size for an application is 42. The minimum amount of investment required by an retail is ₹14,742 (42 shares) (based on upper price). The lot size investment for sNII is 14 lots (588 shares), amounting to ₹2,06,388, and for bNII, it is 68 lots (2,856 shares), amounting to ₹10,02,456.