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The initial public offering (IPO) of Solarworld Energy Solutions Ltd concluded its second day of bidding today, September 24, with the issue subscribed over 4 times so far, as per provisional exchange data. The company aims to raise Rs 490 crore from a fresh issue of Rs 440 crore and an Offer for Sale (OFS) of Rs 50 crore. 

Investors have bid for 3.23 crore shares against the total of 80.93 lakh shares on offer. The subscription majorly includes Non-Institutional Investors (NIIs) who bid 5.53 times, and Retail Individual Investors (RIIs) who bid 13.63 times. The Qualified Institutional Buyers (QIBs) have bid 0.02 times.

Specifically, QIBs have bid for 77,826 shares out of 44.14 lakh shares reserved, NIIs have bid for 1.22 crore shares against 22.07 lakh shares allotted, and RIIs have led the demand with over 2 crore shares bid against the 14.71 lakh reserved shares.

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Noted market analyst Anil Singhvi suggests applying for Solarworld Energy Solutions IPO for reasonable listing gains and long-term growth.

1) Young and energetic promoter

2) Impressive growth track record

3) Strong growth outlook due to future expansion

4) Strong orderbook with execution capability

5) Improved cash flow

1) Highly competitive business

2) Single customer SJVN energy contributing 79 per cent of the revenue

3) Risk of cost over run due to fixed price contracts

4) High attrition rate from 11 per cent to 34 per cent

Solarworld Energy Solutions IPO is a book-building issue of Rs 490 crore, including a fresh issue of Rs 440 crore and an Offer for Sale (OFS) of Rs 50 crore. 

Price band: Rs 333 to Rs 351 per equity share

Subscription period: September 23 to September 25

Minimum investment: Rs 14,742 for 42 shares

Allotment date: September 26, 2025

Listing date: September 30, 2025, on BSE and NSE

Solarworld Energy Solutions Limited is a solar energy solutions provider in India, specialising in Engineering, Procurement, and Construction (EPC) services for solar power projects. It offers end-to-end solutions for both public sector and commercial & industrial clients.

The company reported revenue of Rs 551.09 crore for FY25, a 9 per cent increase from Rs 505.50 crore in FY24 and Profit After Tax (PAT) stood at Rs 77.05 crore for FY25, from Rs 51.69 crore in FY24.

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