Solarworld Energy Solutions Ltd. IPO Price: ₹393 to ₹414 per share
IPO Dates: 23rd September 2025 – 25th September 2025
Company Overview
Incorporated in 2013, SolarWorld Energy Solutions Limited is a leading solar energy solutions provider specializing in engineering, procurement, and construction (EPC) services for solar power projects. The company focuses on delivering reliable and efficient solar solutions, catering to a diverse set of clients across India.
Business Models
SolarWorld Energy Solutions operates through two primary business models:
1. Capital Expenditure (CAPEX) Model
Under the CAPEX model, the company provides end-to-end solar project solutions, including design, installation, setup, and commissioning. The ownership of the solar project remains with the customer, allowing businesses to directly manage and benefit from their energy investments.
2. Renewable Energy Service Company (RESCO) Model
The RESCO model allows customers to adopt solar power without any upfront investment. This model helps businesses reduce their carbon footprint while minimizing financial burden, making renewable energy more accessible and cost-effective.
Strategic Partnerships
On May 14, 2024, SolarWorld Energy Solutions 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, further strengthening the company’s supply chain and production capabilities.
Customer Base
The company serves a diverse range of clients, including SJVN Green Energy Limited, Haldiram Snacks Private Limited, Ethnic Food Manufacturing Private Limited, and Samiksha Solarworld Private Limited. As of July 31, 2025, SolarWorld Energy Solutions had a workforce of 277 employees, ensuring high-quality project execution and support.
Competitive Strengths
SolarWorld Energy Solutions has built a strong market presence thanks to several competitive advantages:
- Proven Track Record: Established expertise in delivering end-to-end solar EPC solutions with reliable project execution.
- Financial Strength: Robust financial performance supported by an asset-light business model.
- Customer Relationships: Long-term client trust built through consistent quality and timely delivery.
- Experienced Team: A qualified management team and skilled personnel with significant industry experience.
Bidding Starts In
Solarworld Energy Solutions Limited IPO Specifics:
| IPO Date | September 23, 2025 to September 25, 2025 |
| Face Value | ₹5 per share |
| Price Band | ₹333 to ₹351 per share |
| Lot Size | 42 Shares |
| Total Issue Size | 1,39,60,113 shares (aggregating up to ₹490.00 Cr) |
| Fresh Issue | 1,25,35,612 shares (aggregating up to ₹440.00 Cr) |
| Offer for Sale | 14,24,501 shares (aggregating up to ₹50.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,41,37,042 shares |
| Share Holding Post Issue | 8,66,72,654 shares |
Solarworld Energy Solutions Limited IPO Timetable (Important Dates)
| IPO Open Date | Tuesday, September 23 2025 |
| IPO Close Date | Thursday, September 25 2025 |
| Basis of Allotment | Friday, September 26 2025 |
| Initiation of Refunds | Monday, September 29 2025 |
| Credit of Shares to Demat | Monday, September 29 2025 |
| Listing Date | Tuesday, September 30 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2025 |
Solarworld Energy Solutions Limited IPO Lot Size
Bidders have the opportunity to bid for a minimum of 42 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 42 | ₹14,742 |
| Retail (Max) | 13 | 546 | ₹1,91,646 |
| S-HNI (Min) | 14 | 588 | ₹2,06,388 |
| S-HNI (Max) | 67 | 2814 | ₹9,87,714 |
| B-HNI (Min) | 68 | 2856 | ₹10,02,456 |
Solarworld Energy Solutions Limited IPO Reservation
| QIB Shares Offered | Not less than 75% of the offer |
| Retail Shares Offered | Not more than 10% of the Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Offer |
Solarworld Energy Solutions Limited IPO Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Assets | 120.43 | 155.02 | 598.02 |
| Total Income | 235.05 | 505.50 | 551.09 |
| Profit After Tax | 14.84 | 51.69 | 77.05 |
| EBITDA | 22.88 | 71.09 | 106.75 |
| Net Worth | 21.91 | 73.60 | 309.07 |
| Reserves and Surplus | 21.59 | 73.28 | 272.00 |
| Total Borrowing | 64.67 | 61.10 | 114.55 |
Key Performance Indicator – Solarworld Energy Solutions IPO
| KPI | Values |
|---|---|
| Market Cap | ₹3042.21 Cr |
| EPS | 10.39 |
| P/E (x) | 33.77 |
| ROE | 40.27% |
| ROCE | 54.53% |
| Debt/Equity | 0.37 |
| RoNW | 40.27% |
| PAT Margin | 14.14% |
Objects of the Issue:
Solarworld Energy Solutions proposes to utilize the net proceeds from its Initial Public Offering (IPO) for the following purposes:
- Investment in Subsidiary for Project Financing: ₹575.30 crore will be allocated to its subsidiary, KSPL, for part-financing the establishment of the Pandhurana Project, supporting its expansion and strategic growth plans.
- General Corporate Purposes: The balance funds will be used for general corporate activities, including administrative expenses, operational efficiency, and other strategic initiatives to strengthen overall business performance.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
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