Solarworld Energy Solutions IPO opens today: Key details
Solarworld Energy Solutions just opened its IPO, aiming to raise ₹490 crore.
The offer runs from Tuesday to Thursday and includes a fresh issue of ₹440 crore in shares plus an additional ₹50 crore through an offer-for-sale by the promoter.
Price band set at ₹333-₹351 per share
The price band is set at ₹333-₹351 per share, with a minimum lot of 42 shares (about ₹14,742 to start investing).
Fourteen anchor investors have already come on board, putting in ₹220.5 crore—VQ Fastercap Fund led the way with nearly 12.8 lakh shares.
Who are the founders?
Founded in 2013, Solarworld provides engineering and construction services for solar projects across India.
How will the company use the proceeds?
Most of the IPO money (₹420 crore) will go toward building a new solar cell manufacturing plant in Madhya Pradesh via their subsidiary Kartik Solarworld.
With a target post-IPO market cap of approximately ₹3,042 crore and a P/E ratio of 39.6x based on projected FY2025 earnings, analysts like Anand Rathi are recommending long-term investment here thanks to Solarworld's strong spot in India's growing solar scene.
Share allotment wraps up September 26, with listing expected on BSE and NSE by September 30.