- Issue price
- ₹351per share
- Issue size
- ₹490 Cr1,39,60,113 shares
- Face value
- ₹5per equity share
- Lot size
- 42 sharesMin. ₹14,742 at the upper price
- Anchor biddingMon, 2025
- OpensTue, 2025
- ClosesThu, 2025
- AllotmentFri, 2025
- ListingTue, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 1,25,35,612 shares (₹440 Cr)
- Offer for sale
- 14,24,501 shares (₹50 Cr)
- Total issue
- 1,39,60,113 shares (₹490 Cr)
- Face value
- ₹5
- Listing at
- NSE, BSE
- Promoter holding
- 39.35% → 33.66%
Source: ProspectusUpdated
Reservation
Share of the total issue- Anchor45.0%
- QIB ex-anchor30.0%
- NII15.0%
- Retail10.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 13,96,011 | 10.00% | — |
| Non-institutional investors (NII) | 20,94,016 | 15.00% | — |
| Qualified institutional buyers (QIB) | 1,04,70,086 | 75.00% | — |
| QIB, excluding anchor | 41,88,035 | 30.00% | — |
| Anchor investors | 62,82,051 | 45.00% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹351 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 42 | ₹14,742 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
Fiscal 2025- EPS (basic)
- ₹10.68
- EPS (diluted)
- ₹10.68
- P/E (Fiscal 2025 at lower price band)
- 31.18×
- P/E (Fiscal 2025 at upper price band)
- 32.87×
- RoNW
- 40.27%
- NAV per share (At Offer Price)
- ₹86.42
- Debt to equity
- 0.37
- EBITDA margin
- 19.60%
- PAT margin
- 14.14%
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 202512 months | 31 Mar 202412 months | 31 Mar 202312 months |
|---|---|---|---|
| Revenue from operations | 544.77 | 501.02 | 232.46 |
| Total income | 551.09 | 505.50 | 235.05 |
| EBITDA | 106.75 | 71.09 | 22.88 |
| Profit after tax | 77.05 | 51.69 | 14.84 |
| Net worth | 309.07 | 73.60 | 21.91 |
| Reserves and surplus | 272.00 | 73.28 | 21.59 |
| Total assets | 598.02 | 155.02 | 120.43 |
| Total borrowing | 114.55 | 61.10 | 64.67 |
12 months vs 12 months: revenue +8.7%, profit after tax +49.1%.
Source: ProspectusUpdated
About the company
The company provides EPC services for solar power projects, including design, procurement, construction and commissioning, and O&M services. It serves public sector undertakings and commercial and industrial clients under CAPEX and RESCO models. It is also expanding into solar cell manufacturing through a subsidiary.
- Incorporated
- 2013
- Industry
- Solar Energy EPC
- Sector
- Energy and Power
- CIN
- U15100DL2013PLC255455
- Website
- worldsolar.in
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Kartik Teltia | Promoter | 34.56% | 29.56% | — |
| Mangal Chand Teltia | Promoter | 4.79% | 4.10% | — |
| Pioneer Facor IT Infradevelopers Private Limited | Selling shareholder | 39.35% | 32.01% | 14,24,501 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Investment in subsidiary Kartik Solarworld Private Limited to part-finance a 1.2 GW solar cell manufacturing facility at Pandhurana, Madhya Pradesh | 420.00 |
| General corporate purposes | 130.00 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Sterling & Wilson Renewable Energy Limited | ₹3.49 | 76.48× | 8.78% | ₹42.59 |
| KPI Green Energy Limited | ₹16.23 | 30.57× | 18.77% | ₹133.57 |
| Waaree Renewable Technologies Limited | ₹22 | 47.32× | 65.29% | ₹43.64 |
| Gensol Engineering Limited | — | — | — | — |
| Oriana Power Limited | ₹79.52 | 29.01× | 47.59% | ₹254.75 |
| Solarworld Energy Solutions LimitedIssuer | ₹10.68 | 32.87× | 40.27% | ₹41.69 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Long track record in solar EPC work since 2013 with completed and ongoing projects.
- Sizeable order book of about ₹25,278 million as of July 31, 2025.
- Growing revenue and profit over Fiscals 2023 to 2025.
- Backward integration plan into solar cell manufacturing through a subsidiary.
- Bundled O&M services on most EPC projects.
Risks
- Heavy dependence on one key customer, SJVN Green Energy Limited, which contributed about 79% of Fiscal 2025 revenue.
- Fixed-price EPC contracts expose margins to cost overruns and input price changes.
- Large planned capex for the Pandhurana manufacturing facility, with plant orders not yet placed.
- Reliance on a Project Loan from a non-banking lender to fund part of the facility.
- Significant contingent liabilities including corporate guarantees for subsidiaries and joint ventures.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹351) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Solarworld Energy Solutions IPO open and close?
According to the Prospectus, the issue opens on Tuesday, 23 September 2025 and closes on Thursday, 25 September 2025.
What is the Solarworld Energy Solutions IPO price band?
The final issue price is ₹351 per share.
What is the lot size of the Solarworld Energy Solutions IPO?
One lot is 42 shares, which is ₹14,742 at ₹351 per share.
Where will Solarworld Energy Solutions shares list?
On NSE and BSE. The tentative listing date is Tuesday, 30 September 2025.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Solarworld Energy Solutions IPO allotment status?
The basis of allotment is expected to be finalised on Friday, 26 September 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹420 Cr for investment in subsidiary Kartik Solarworld Private Limited to part-finance a 1.2 GW solar cell manufacturing facility at Pandhurana, Madhya Pradesh, ₹130 Cr for general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.