Solarworld Energy Solutions IPO subscribed 1.23 times

The offer received bids for 99.18 lakh shares as against 80.93 lakh shares on offer.

The initial public offer of Solarworld Energy Solutions received bids for 99,18,048 shares as against 80,93,092 shares on offer, according to stock exchange data at 17:00 IST on Tuesday (23 September 2025). The issue was subscribed 1.23 times.

The issue opened for bidding on 23 September 2025 and it will close on 25 September 2025. The price band of the IPO is fixed between Rs 333 and 351 per share. An investor can bid for a minimum of 42 equity shares and in multiples thereof.

The issue comprises a fresh issue of equity shares aggregating to Rs 440 crore and an offer for sale (OFS) of equity shares aggregating to Rs 50 crore by Pioneer Facor IT Infra developers.

Of the net proceeds from the fresh issue, Rs 420 crore will be invested in Kartik Solarworld (KSPL), a subsidiary of the company, to part-finance the establishment of a 1.2 GW solar PV TopCon cell manufacturing facility in Pandhurana, Madhya Pradesh. The remaining funds will be used for general corporate purposes.

Solarworld Energy Solutions (SWEL) is a leading solar EPC company, deriving around 80% of its revenue from government projects. By July 2025, it had built up an order book of Rs 2,528 crore and successfully executed projects of over 250 MW capacity. The company is now stepping into manufacturing, setting up a 1.2 GW TopCon solar module plant, along with plans for battery storage and TopCon cell facilities to strengthen its clean energy play.

Ahead of the IPO, Solarworld Energy Solutions on Monday, 23 September 2025, raised Rs 220.49 crore from anchor investors. The board allotted 62.82 lakh shares at Rs 351 each to 15 anchor investors.

The firm reported a consolidated net profit of Rs 77.43 crore and total income of Rs 544.77 crore for the twelve months ended on 31 March 2025.

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