Solarworld Energy Solutions IPO to open on Sept 23: Check all key details here

Solarworld Energy Solutions will open its initial public offering (IPO) for subscription from 23 September to 25 September 2025, with a price band of Rs 333 to Rs 351 per equity share of face value Rs 5. The minimum lot size is 42 shares, and applications can be made in multiples thereof.

The IPO consists of a fresh issue of up to Rs 440 crore and an offer for sale of Rs 50 crore by promoter Pioneer Facor IT Infradevelopers. The issue is book built, with Nuvama Wealth Management and SBI Capital Markets as lead managers. Allocation to anchor investors is on 22 September, with not less than 75% reserved for qualified institutional buyers (QIB), up to 15% for non-institutional investors (NII), and up to 10% for retail investors. MUFG Intime India is the registrar.

Minimum investment for retail investors is based on the lot size, while sNII and bNII categories have higher minimums as per norms. The basis of allotment will be finalised on 26 September, with refunds and demat credits on 29 September. Listing is expected on the BSE and NSE on 30 September 2025.

The IPO aims to raise funds for investment in subsidiary Kartik Solarworld, to partially fund a 1.2 GW solar PV TopCon Cell manufacturing facility in Madhya Pradesh, and for general corporate purposes. The offer for sale allows the promoter to divest part of its holding.

Established in 2013, Solarworld Energy Solutions specialises in engineering, procurement, and construction (EPC) of solar power projects. The company serves public sector undertakings (PSUs) and commercial and industrial clients. Notable clients include SJVN Green Energy Limited, Ethnic Food Manufacturing Private Limited, Haldiram Snacks Private Limited, and Samiksha Solarworld Private Limited.

The IPO price band places the floor price at 66.60 times and the cap price at 70.20 times the face value. The anticipated size of Rs 490 crore is expected to support the company’s expansion plans.

Detailed financial performance data such as revenue, profit after tax, and key ratios (ROE, ROCE, RONW, etc.) have not been disclosed. Investors often compare such metrics with peers and monitor the grey market premium (GMP), though current GMP data is not yet available.

Key IPO dates: anchor investor allocation on 22 September, IPO opens 23 September, closes 25 September, basis of allotment on 26 September, refunds and demat credit on 29 September, and listing on 30 September 2025. UPI mandate cut-off follows standard exchange guidelines.