Solarworld Energy IPO Day 2 update: Subscription surpasses 3x, GMP at 17%

Solarworld Energy Solutions IPO Day 2 subscription status: The initial public offering (IPO) of solar energy solutions provider, Solarworld Energy, which opened for public subscription on Tuesday, September 23, has received a favourable response from investors.

 

The NSE data suggests that the ₹490 crore offering of Solarworld Energy received bids for 26.05 million equity shares, against 8.09 million shares on offer, resulting in a subscription of 3.22 times as of 2:40 PM on Wednesday, September 24.

 

Among the investor categories, retail investors led the demand by oversubscribing the category reserved for them by 11.3 times. This was followed by non-institutional investors (NIIs), who bid for 4.25 times. However, the portion booked for qualified institutional buyers (QIBs) was subscribed only 1 per cent.

Solarworld Energy IPO grey market premium (GMP)

The unlisted shares of Solarworld Energy were commanding a decent premium in the grey market on the second day of its subscription window. Sources tracking unofficial market activities showed that Solarworld Energy shares were trading at around ₹413 per share, reflecting a grey market premium (GMP) of ₹62 or 17.66 per cent over the upper end of the price band of ₹333 to ₹351.

Solarworld Energy IPO review

Anand Rathi Research has assigned a 'Subscribe for long term' rating for the issue, citing the company's ability to capitalise on profitability in the long run and fair valuations.

Solarworld Energy IPO details

The public offering is a book-built issue, which comprises a fresh issue of 12.5 million equity shares and an offer for sale (OFS) of 1.4 million shares. Solarworld Energy IPO is available at a price band of ₹333 to ₹351 per share, and a lot size of 42 shares. Thus, investors can bid for a minimum of 42 shares of Solarworld Energy IPO and in multiples thereof.

 

To bid for one lot or 42 shares of Solarworld Energy IPO, a retail investor would require a minimum of ₹14,742, taking the upper end of the IPO price into consideration. A retail investor can bid for a maximum of 13 lots or 546 shares, amounting to ₹1,91,646.

 

The three-day subscription window to bid for the public offering is set to conclude on Thursday, September 25, 2025. Following the closure of the subscription window, the basis of allotment of Solarworld Energy IPO shares is likely to get finalised on Friday, September 26, 2025, with shares getting credited into demat accounts by Monday, September 29, 2025.

 

Shares of Solarworld Resources are set to make their D-Street debut tentatively on Tuesday, September 30, 2025, by listing on the BSE and NSE.

 

MUFG Intime India is the registrar of the issue. Nuvama Wealth Management and SBI Capital Markets are the book-running lead managers.

 

According to the red herring prospectus (RHP), the company plans to utilise the net fresh issue proceeds for investment in the subsidiary, KSPL for partfinancing the establishment of the Pandhurana Project, and general corporate purposes.