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Solarworld Energy Solutions IPO
Price Band
₹333.0–351.0
Issue Size
₹490.0 Cr
Lot Size
42 shares
Min Investment
₹14,742
GMP
+₹40.0 (11.4%)
Issue Price
₹351.0
Subject to Sauda
₹1300
Paid only if allotted
Solarworld Energy Solutions IPO AI Summary
- Solarworld Energy Solutions IPO is listed on BSE, NSE in the Civil Construction sector.
- Price band: ₹333.0–₹351.0 per share, lot size 42 shares (min. investment ₹14,742).
- Subscription window: 23 Sep–25 Sep 2025, listing on 30 Sep 2025.
- Current GMP is +₹40.0 (11.4%), an estimated listing price of ₹391 — unofficial and can change daily.
SolarWorld Energy Solutions Limited is a solar energy solutions provider with a strong focus on EPC services. The company has shown significant revenue and profit growth in recent years and plans to utilize the IPO proceeds for strategic investments and corporate purposes.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Solarworld Energy Solutions IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 25 Sep 2025 — not a current signal.
Reviewers are split — see individual calls below.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Solarworld Energy Solutions IPO Grey Market Premium (GMP) Today
GMP
+₹40.0
GMP %
+11.4%
Est. Listing
₹391.0
Updated: 25 Jul 2026 14:12
About the Company
Incorporated in 2013, SolarWorld Energy Solutions Limited, is a solar energy solutions provider specializing in engineering, procurement, and construction (EPC) services for solar power projects. Business Models: The company offers solar solutions through two models: Capital Expenditure (CAPEX) Model: Provides end-to-end solar project solutions, including design, installation, setup, and commissioning. The ownership of the project remains with the customer. Renewable Energy Service Company (RESCO) Model: Customers can adopt solar power without any upfront investment. Helps businesses reduce their carbon footprint with minimal financial burden. On May 14, 2024, SolarWorld Energy Solutions Limited entered into an equity cooperation agreement with ZNSHINE PV-Tech Co. Ltd., a Bloomberg NEF tier-1 solar panel supplier from China. This partnership aims to establish a solar panel manufacturing facility. The company's customer base includes SJVN Green Energy Limited, Haldiram Snacks Private Limited, Ethnic Food Manufacturing Private Limited, and Samiksha Solarworld Private Limited. As of July 31, 2025, the company had 277 employees. Competitive Strengths: Established track record and strong in-house execution capabilities for end-to-end solar EPC solutions Strong financial performance driven by asset light business model Strong customer relationships built on reliable delivery of projects with a significant focus on quality. Experienced management team and qualified personnel with significant industry experience.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 598.02 | 155.02 | 120.43 |
| Total Income | 551.09 | 505.50 | 235.05 |
| Profit After Tax | 77.05 | 51.69 | 14.84 |
| EBITDA | 106.75 | 71.09 | 22.88 |
| NET Worth | 309.07 | 73.60 | 21.91 |
| Reserves and Surplus | 272.00 | 73.28 | 21.59 |
| Total Borrowing | 114.55 | 61.10 | 64.67 |
Key Ratios
EPS
₹10.39
NAV
₹41.69
ROE
40.27%
ROCE
54.53%
RoNW
40.27%
P/E Ratio
33.77
Market Cap
₹3042.21 Cr
PAT Margin
14.14%
Debt/Equity
0.37
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Oriana Power Limited | 254.75 | 47.59% | 29.01 | 79.52 | 79.52 |
| Gensol Engineering Limited | — | — | — | — | — |
| Waaree Renewable Technologies Limited | 43.64 | 65.29% | 47.32 | 22 | 21.95 |
| Kpi Green Energy Limited | 133.57 | 18.77% | 30.57 | 16.23 | 16.09 |
| Sterling And Wilson Renewable Energy Limited | 42.59 | 8.78% | 76.48 | 3.49 | 3.49 |
| Solarworld Energy Solutions Limited This IPO | 41.69 | 40.27% | — | 10.68 | 10.68 |
Promoters
Kartik Teltia, Rishabh Jain, Mangal Chand Teltia, Sushil Kumar Jain and Anita Jain
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Investment in the Subsidiary, KSPL for partfinancing the establishment of the Pandhurana Project 420.00 2 General Corporate Purposes 101.68 3 Issue Expenses 31.55 Total 553.23
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹235.05 Cr in the year ending 31 Mar 2023, rising to ₹505.50 Cr by 31 Mar 2024, and further increasing to ₹551.09 Cr by 31 Mar 2025. This indicates a strong upward trend in revenue over the observed periods.
Profit Trend
Profit After Tax was ₹14.84 Cr in the year ending 31 Mar 2023, increasing to ₹51.69 Cr by 31 Mar 2024, and further rising to ₹77.05 Cr by 31 Mar 2025. This consistent growth in profitability reflects the company's improving financial performance.
Valuation
At the issue price of ₹351.0, SolarWorld Energy Solutions has an implied P/E ratio of approximately 33.77, compared to peers trading at P/E ratios ranging from 29.01 to 76.48.
Grey Market Premium, Explained
The Grey Market Premium (GMP) reflects the price at which shares are expected to trade in the unofficial market before they are listed. A positive GMP indicates that the market expects the shares to list at a higher price than the issue price, while a negative GMP suggests the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their own financial goals and risk tolerance. It's important to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors who prefer stable, low-risk investments may want to avoid IPOs, as they can be subject to significant price fluctuations and uncertainties during the initial trading period.
IPO Timeline, Explained
The IPO opens for subscription from September 23 to September 25, 2025, with allotment expected on September 26, 2025, and listing on the stock exchange scheduled for September 30, 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make if the stock price rises above the issue price on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock.
This evaluation is generated from Solarworld Energy Solutions's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Solarworld Energy Solutions IPO GMP today?
Solarworld Energy Solutions IPO GMP today is +₹40.0 (11.4%), indicating an estimated listing price of ₹391. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Solarworld Energy Solutions IPO?
The price band of Solarworld Energy Solutions IPO is ₹333.0–₹351.0 per share.
When does Solarworld Energy Solutions IPO open and close?
Solarworld Energy Solutions IPO opens on 23 September 2025 and closes on 25 September 2025.
When does Solarworld Energy Solutions IPO list on the stock exchange?
Solarworld Energy Solutions IPO listed on 30 September 2025 at ₹391.0.
What is the lot size for Solarworld Energy Solutions IPO?
The lot size for Solarworld Energy Solutions IPO is 42 shares, requiring a minimum investment of ₹14,742.
What is the lot size for this IPO?
The lot size for SolarWorld Energy Solutions' IPO is 42 shares.
What is the minimum investment required?
The minimum investment required is ₹14,742.
What is the price band for the IPO?
The price band for the IPO is ₹333.0 to ₹351.0.
When does the IPO open and close?
The IPO opens on September 23, 2025, and closes on September 25, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected price movement of the shares before they are officially listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
23 Sep 2025
Close
25 Sep 2025
Allotment
26 Sep 2025
Listing
30 Sep 2025
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