 "Solarworld Energy shares soar 14% on ₹725-cr order from NTPC Renewable")
Shares of Solarworld Energy Solutions Ltd. rallied over 14 per cent on Monday after it received a letter of award for the development of a 250 MWac grid-connected solar PV project worth ₹725.33 crore from NTPC Renewable Energy.
The lender's stock rose as much as 14.5 per cent during the day to ₹303 per share, the biggest intraday gain since October 29 this year. The Solarworld Energy Solutions stock pared gains to trade 11 per cent higher at ₹293.5 apiece, compared to a 0.03 per cent decline in Nifty 50 as of 10:11 AM.
Shares of the company rose to the highest level since December 10 and currently trade at 71 times the average 30-day trading volume, according to Bloomberg. Solarworld Energy's counter has fallen 26 per cent since listing on September 30 this year and has a total market capitalisation of ₹2,509.61 crore. CATCH STOCK MARKET UPDATES TODAY LIVE
Solarworld Energy bags ₹725-crore order win
Solarworld Energy has received a letter of award (LoA) from NTPC Renewable Energy Ltd. for an Engineering, Procurement and Construction (EPC) package to develop a 250 megawatt alternating current (MWac) grid-connected solar photovoltaic project.
The order, awarded by a domestic entity, is valued at approximately Rs 725.33 crore, according to the exchange filing. Under the contract, the company will undertake the complete EPC scope for the project. The solar project is scheduled to be completed in the financial year 2026-27.
Solarworld Energy Solutions Ltd., incorporated in 2013, is a solar energy solutions provider specialising in EPC services through an asset-light model, offering end-to-end project execution while retaining customer ownership. Its zero-upfront-investment approach promotes cost-effective adoption of solar power.
In May 2024, it partnered with ZNSHINE PV-Tech Co. Ltd. to set up a solar panel facility. Key clients include SJVN Green Energy and Haldiram. ALSO READ | Nifty Metal index hits record high, surges 27% in CY2025; here's why
Solarworld Energy Solutions IPO details
The public offering in September comprised a fresh issue of 12.5 million shares worth nearly ₹400 crore, along with an Offer for Sale (OFS) of 1.4 million equity shares worth ₹50 crore. The IPO was offered at a price band of ₹333–₹351 per share, with a lot size of 42 shares.
The company said that it intends to use the proceeds from the fresh issue for investment in its subsidiary, KSPL, to partially finance the establishment of the Pandhurna Project. The remaining proceeds will be used for general corporate purposes.