Solarworld Energy Solutions was incorporated on July 17, 2013. The company is a leading solar energy solutions provider, specialising in engineering, procurement, and construction (EPC) services for solar power projects. Its solutions strengthen customers' sustainable energy infrastructure, support decarbonization efforts, and drive energy efficiency through two distinct models: the capital expenditure (CAPEX) model and the renewable energy service company (RESCO) model
| Bidding Dates |
|---|
| 23 Sep 2025 - 25 Sep 2025 |
| Subscription |
|---|
| 65.01x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,986 | 1 | 13 | 42 | 14.0 M | ₹333 - ₹351 | 65.67 % | ₹4648.7 M - ₹4900.0 M | RHP DOC |
Solarworld Energy Solutions IPO SUBSCRIPTION STATUS
25 Sep '25Solarworld Energy Solutions IPO overall subscription rate was 65.01 times the total available shares
Solarworld Energy Solutions IPO retail subscription rate was 49.15 times in the retail segment
Solarworld Energy Solutions IPO non-institutional investor subscription rate was 64.73 times in the non-institutional investor category
Solarworld Energy Solutions IPO Qualified Institutional Bidder subscription rate was 70.43 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
25 Sep 2025 (Day 3) | 49.15x | 64.73x | 70.43x |
24 Sep 2025 (Day 2) | 13.64x | 5.53x | 0.02x |
23 Sep 2025 (Day 1) | 4.57x | 1.45x | 0x |
Solarworld Energy Solutions FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 544.8 | 77.0 | 53.9 | -98.0 | 19.6% |
| FY24 | 501.0 | 51.7 | 7.2 | 7.0 | 14.2% |
| FY23 | 232.5 | 14.8 | -7.1 | -8.1 | 9.8% |
Solarworld Energy Solutions IPO SUBSCRIPTION STATUS DETAILS
Solarworld Energy Solutions had 14.0 M shares on offer
Solarworld Energy Solutions IPO offer price was in the range ₹333 - ₹351
Solarworld Energy Solutions IPO minimum Investment was ₹13986
Solarworld Energy Solutions IPO issue size was ₹ 4648.7 M - ₹ 4900.0 M
Solarworld Energy Solutions had a minimum lot size of 42 Shares per application
Solarworld Energy Solutions NUMBER OF SHARES ON OFFER
Solarworld Energy Solutions IPO IMPORTANT DATES
| Issue Open Date | 23 Sep 2025 |
| Issue close Date | 25 Sep 2025 |
| Allotment Date | 26 Sep 2025 |
| Refund Date | 29 Sep 2025 |
| Demat Account Credit Date | 29 Sep 2025 |
| Listing Date | 30 Sep 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Solarworld Energy Solutions Allotment Status | Exchange/ Registrar |
Solarworld Energy Solutions IPO subscription opened on 23 Sep 2025, and closed on 25 Sep 2025
IPO allotment for Solarworld Energy Solutions was finalized on Friday, 26 Sep 2025
IPO listing for Solarworld Energy Solutions was on NSE and BSE on Tuesday, 30 Sep 2025
Solarworld Energy Solutions IPO LISTING GAINS
| Issue Price (adjusted) | 351.0 |
| Listing Open Price | 388.5 |
| Listing Close Price | 323.5 |
| Listing Gain% | 10.7% |
| Current Gain% | -52.0% |
Solarworld Energy Solutions Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Solarworld Energy Solutions Ltd. | 168.4 | 1459.8 | 12.1 | 0.2 | 1.1 | 14.2 | 7.1 | 1416.1 | 157 | 120.5 | 56.4 | 13.9 | 56.4 |
| Adani Green Energy Ltd. | 1372.4 | 226058.5 | 126.7 | 29.7 | 16.7 | 8.6 | 1.1 | 13819 | 11.2 | 1652 | 14.4 | 10.8 | 4.3 |
| Siemens Energy India Ltd. | 3648.8 | 129941.2 | 87.3 | 1.9 | 13.8 | 25.1 | 11.5 | 7932 | 66.6 | 1100.1 | 83.4 | 41.8 | 46.7 |
| NHPC Ltd. | 76.9 | 77266.4 | 20.4 | 0.8 | 6.3 | 9.1 | 3.1 | 12686.1 | 8.2 | 3765.7 | 25.2 | 3.8 | 24.1 |
| NTPC Green Energy Ltd. | 91.5 | 77100.9 | 127 | 13.9 | 23.5 | 2.8 | 0.9 | 3035.1 | 23.1 | 522.6 | 9.9 | 0.7 | 9.2 |
| SJVN Ltd. | 68 | 26706.9 | 41.8 | -5.6 | 5.3 | 4.5 | 1.2 | 4722.8 | 39.9 | 642.1 | -21.7 | 1.6 | -7.4 |
Solarworld Energy Solutions INFORMATION ON IPO ISSUE
About Solarworld Energy Solutions
Solarworld Energy Solutions was incorporated on July 17, 2013. The company is a leading solar energy solutions provider, specialising in engineering, procurement, and construction (EPC) services for solar power projects. Its solutions strengthen customers' sustainable energy infrastructure, support decarbonization efforts, and drive energy efficiency through two distinct models: the capital expenditure (CAPEX) model and the renewable energy service company (RESCO) model
Object of the Issue
- Investment in the subsidiary, Kartik Solarworld for part-financing the establishment of a 1.2 GW solar PV TopCon cell manufacturing facility in Pandhurana, Madhya Pradesh, India
- General corporate purposes
Solarworld Energy Solutions - PROMOTERS
| Name |
|---|
| Kartik Teltia |
| Rishabh Jain |
| Mangal Chand Teltia |
| Sushil Kumar Jain |
| Anita Jain |
| Pioneer Facor IT Infradevelopers Private Limited |
Solarworld Energy Solutions - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Kartik Teltia | Managing Director |
| Rishabh Jain | Whole-Time Director |
| Sushil Kumar Jain | Non-Executive Director |
| Mangal Chand Teltia | Non-Executive Director |
| Ramakant Pattanaik | Independent Director |
| Rini Chordia | Chairperson & Independent Director |
Solarworld Energy Solutions Book Running Lead Manager
Nuvama Wealth Management Limited
solarworld.ipo@nuvama.com
SBI Capital Markets Limited
solarworld.ipo@sbicaps.com
Solarworld Energy Solutions Registrar to the Offer
Link Intime India Private Limited
solarworldenergy.ipo@linkintime.co.in
Solarworld Energy Solutions Strengths
End-to-end in-house execution
The company’s success is driven by strong in-house execution capabilities and a commitment to delivering end-to-end solutions. Its EPC services encompass site surveys and design through to installation and commissioning, catering to PSUs from 10 MW to several hundred MW and C&I clients from 1 kW to several hundred MW
Robust order book
The company's order book is a key indicator of future revenues and growth. As of August 31, 2024, it stood at Rs 7,523.1 million for EPC projects and Rs 473.9 million for O&M projects, with cumulative capacities of 592 MW (DC) and 889 MW (DC), respectively. The order book grew from Rs 1,892.4 million in FY22 to Rs 8,130.4 million in FY24, reflecting a CAGR of 107.3%
Customer relationships
The company’s consultative approach enables it to tailor solutions to customers' needs, optimising solar energy systems for efficiency and cost-effectiveness. Its commitment to high quality and customer satisfaction is evident in its track record of repeat orders, with repeat customers accounting for 793 MW (DC) of total solar capacity orders of 928 MW (DC) as of August 31, 2024
Solarworld Energy Solutions Risks
Cost overruns or delays
If the company miscalculates or misjudges costs related to construction, development, land acquisition, or component pricing, the economics of successful bids may be compromised, potentially rendering projects economically unviable
Quality and performance
Failure to maintain quality and performance guarantees under EPC contracts or delays in completing solar power projects may increase construction costs and working capital requirements, potentially having a material adverse effect on the company's financial condition, cash flow, and operational results
Competition
Operating in a competitive industry, the company may struggle to successfully bid for and win solar power projects, which could materially adversely affect its business, financial condition, results of operations, and prospects
IPO FAQs
This IPO consists of an offer for sale of up to Rs 50.0 crore, of 1,424,501 shares. It also consists of a fresh issue of Rs 440.0 crore.
The promoters of the company are Kartik Teltia, Rishabh Jain, Mangal Chand Teltia, Sushil Kumar Jain, Anita Jain and Pioneer Facor IT Infradevelopers Private Limited.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 333.0 - 351.0.
The IPO application opens on Sep 23, 2025 and closes on Sep 25, 2025.
The minimum lot size for the IPO is 42. The maximum lot size for the IPO is 546.
For all category investors, the minimum application amount for this IPO is Rs. 13,986.0, the maximum value for this IPO is Rs 191,646.0.
This IPO will be allotted on Sep 26, 2025.
The refund will be credited to your account on Sep 29, 2025.
The allotted shares will be credited to your demat on Sep 29, 2025.
Solarworld Energy Solutions Ltd.’s shares listed on the stock exchanges on Sep 30, 2025.