Solarworld Energy Solutions posts strong debut; shares list at 11% premium

Solarworld Energy Solutions shares listed at ₹389 per share on the BSE, up ₹38 or 10.83 per cent over the issue price of ₹351 per share

Solarworld Energy Solutions Share Price: Shares of green energy player Solarworld Energy Solutions made a positive debut on Dalal Street on September 30.

 

On the BSE, Solarworld Energy Solutions shares listed at ₹389 per share, up ₹38 or 10.83 per cent over the issue price of ₹351 per share. The company’s shares listed at a slightly lower premium on the National Stock Exchange (NSE) at ₹388.50 per share, up ₹37.50 or 10.68  per cent from the issue price.

 

Solarworld Energy Solutions IPO listing came slightly below grey market estimates. Ahead of the allotment, unlisted shares of Solarworld Energy Solutions were commanding a decent premium in the grey market. As of Tuesday, sources tracking grey market activity revealed that the company’s unlisted shares were trading at around ₹391 per share, reflecting a grey market premium (GMP) of ₹40 per share, or 11.40 per cent over the upper end of the issue price.

Solarworld Energy Solutions IPO details

The public offering 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 issue received a solid response from investors and ended up being oversubscribed 65.01 times by the end of the subscription period. The demand was fueled primarily by qualified institutional buyers (QIBs), who oversubscribed their reserved category by 70.43 times.

 

Solarworld Energy Solutions will not receive any proceeds from the OFS, as those will go to the promoters participating in the public offering. The company 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. 

ALSO READ | Advance Agrolife IPO opens: Check key details, GMP, dates, brokerage views

About Solarworld Energy Solutions

Solarworld Energy Solutions Ltd., incorporated in 2013, is a solar energy solutions provider specializing 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.