Solarworld Energy Solutions IPO
Solarworld Energy Solutions IPO — date, price band, lot size & details 2025
Solarworld Energy Solutions listed on 30 Sep 2025 at ₹388.5, 10.7% above the ₹351 issue price.
Solarworld Energy Solutions provides EPC services for solar power projects under Capital Expenditure and RESCO models. Its total income rose from Rs 235.05 crore in FY2023 to Rs 551.09 crore in FY2025.
Stock price
Solarworld Energy Solutions is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 23 Sep 2025
- Close 25 Sep 2025
- Allotment 26 Sep 2025
- Refund/credit 29 Sep 2025
- Listing 30 Sep 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 25 Sep, 2025 |
|---|---|
| Price Band | ₹333 – ₹351 |
| Face Value | ₹5 |
| Lot Size | 42 Shares |
| Issue Size | ₹490 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,742 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 42 shares at the ₹351 cut-off. Drag to size your application.
| 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 | 2,814 | ₹9,87,714 |
| B-HNI (min) | 68 | 2,856 | ₹10,02,456 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 235.05 crore in FY2023 to Rs 551.09 crore in FY2025.
- 02Profit after tax rose from Rs 14.84 crore in FY2023 to Rs 77.05 crore in FY2025.
- 03The EBITDA margin was 19.60% and the PAT margin was 14.14%.
- 04Return on equity was 40.27% and return on capital employed was 54.53%.
- 05Rs 440.00 crore of the Rs 490 crore issue was fresh capital.
Risks · 6
- 01Return on equity of 40.27% is high partly because net worth was small, at Rs 73.60 crore on 31 March 2024.
- 02Total assets jumped from Rs 155.02 crore on 31 March 2024 to Rs 598.02 crore on 31 March 2025, so the record at this size is short.
- 03The P/E was 39.48 at the upper band of Rs 351, based on post-issue EPS of Rs 8.89.
- 04Rs 420.00 crore of the proceeds was for one subsidiary, KSPL, so execution depends on a single project.
- 05Total borrowing rose from Rs 61.10 crore on 31 March 2024 to Rs 114.55 crore on 31 March 2025.
- 06Promoters held 78.7% before the issue and held 65.67% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Solarworld Energy Solutions offer document.
| Metric | 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 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Solarworld Energy Solutions RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Solarworld Energy Solutions IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹10.39 | ₹8.89 |
| P/E Ratio (x) | 33.77 | 39.48 |
| Market Cap at Offer Price (₹ Cr) | ₹2,602.94 | ₹3,042.13 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹351 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹553.23 Cr of the issue is earmarked to named objects.
Solarworld Energy Solutions IPO Anchor Investors
15 anchor investors across 14 fund houses committed ₹220.50 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
The company has two models. Under the Capital Expenditure model it delivers end-to-end projects that the customer owns. Under the RESCO model customers adopt solar power without upfront investment.
On 14 May 2024 it entered an equity cooperation agreement with ZNSHINE PV-Tech Co. Ltd.
The IPO was Rs 490 crore, with Rs 440.00 crore of fresh issue and Rs 50.00 crore of offer for sale. Rs 420.00 crore was planned for investing in its subsidiary KSPL.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Solarworld Energy Solutions IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Nuvama Wealth Management Ltd.
23 issues handledBest listing: Sambhv Steel Tubes (+34.1%). Weakest: Ajax Engineering (-8.4%).
SBI Capital Markets Ltd.
23 issues handledBest listing: Indo-MIM (+44.3%). Weakest: Ajax Engineering (-8.4%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Solarworld Energy Solutions?
The current Grey Market Premium is ₹38, or 11% over the issue price.
What is the Solarworld Energy Solutions IPO price band?
₹333 to ₹351, on a face value of ₹5.
When is the allotment?
The basis of allotment is 26 September 2025, with listing on 30 September 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
