Solarworld's IPO shines bright, oversubscribed 68.49 times
Solarworld Energy Solutions is making its stock market debut today on both the BSE and NSE, and it's already a hot topic—investors rushed in, oversubscribing the IPO by a huge margin.
Harshal Dasani from INVasset PMS says it's all thanks to Solarworld's strong lineup of orders and smart position in the renewable energy space.
₹490 crore IPO to help build solar panel factory
The ₹490 crore IPO was open from September 23-25 and got 68.49 times more bids than shares available—talk about demand!
The gray market premium hints at an 11% listing gain over the ₹351 issue price.
Money raised will help build a solar panel factory in Madhya Pradesh (via their subsidiary Kartik Solarworld) and cover other business needs.
Even with challenges like receivable cycles, Solarworld's big order book helped make this launch a standout.