Solarworld Energy IPO allotment: Check chances of getting shares, latest GMP & more

Solarworld Energy Solutions is scheduled to finalize the basis of allotment of its shares on Friday, September 26. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either over the weekend or latest by Monday, September 29. The solar EPC solutions player saw a strong response from the investors

The IPO of Solarworld Energy Solutions was open for subscription between September 23 and September 25. It had offered its shares in the price band of Rs 333-351 per share with a lot size of 42 shares. The company raised a total of Rs 490 crore from its IPO, which included fresh share sale Rs 440 crore and an offer-for-sale (OFS) of up to 14,24,251 equity shares worth Rs 50 crore.

The issue was overall subscribed 65.01 times, fetching over 16.32 lakh applications, attracting bids worth Rs 18,460 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 70.43 times. The allocation for non-institutional investors (NIIs) was booked 64.73 times. The portion for retail investors was subscribed 49.15 times, respectively.

Based on the bidding, here are the odds of allotment for IPO of Solarworld Energy Solutions:

• Big HNI category: 1 investors out of 13 investors will get 588 shares (Probability: 7.69 per cent)
• Small HNI category: 1 investor out of 70 investors will get 588 shares (Probability: 1.42 per cent)
• Retail category: 1 investor out of 46 investors will get 42 shares. (Probability: 2.38 per cent)

The grey market premium (GMP) of Solarworld Energy Solutions has seen some correction despite a strong bidding amid muted market sentiments. Last heard, the company was commanding a premium of Rs 52-55 per share in the unofficial market, suggesting a listing pop of 14-15 per cent for the investors. The GMP stood around Rs 65, during the bidding phase.

Incorporated in 2013, New Delhi-based SolarWorld Energy Solutions, is a solar energy solutions provider specializing in engineering, procurement, and construction (EPC) services for solar power projects. Its customer base includes SJVN Green Energy, Haldiram Snacks, Ethnic Food Manufacturing, and Samiksha Solarworld, among others.

Nuvama Wealth Management and SBI Capital Markets are the book running lead managers for the Solarworld Energy Solutions and MUFG Intime India is the registrar of the issue. Refund initiations and credit of shares is likely to be done on Monday, September 29. Shares of the company shall be listed on both BSE and NSE on Tuesday, September 30.

Investors, who had bid for the issue of Solarworld Energy Solutions, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Solarworld Energy Solutions Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of MUFG Intime India Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.