Solarworld Energy Solutions IPO
ListedMainboardOpens 23 September 2025Closes 25 September 2025
Solarworld Energy Solutions provides solar energy solutions, specializing in engineering, procurement, and construction (EPC) services for solar power projects. The company offers complete, cost-effective, and…
Solarworld Energy Solutions provides solar energy solutions, specializing in engineering, procurement, and construction (EPC) services for solar power projects. The company offers complete, cost-effective, and customized solutions for installing solar power systems for public sector undertakings (PSUs) as well as commercial and industrial (C&I) clients. It operates under two models: the CAPEX model, where customers own the solar project, and the RESCO model, where the company owns and operates the project and customers buy the electricity at a fixed tariff under a long-term power purchase agreement (PPA).
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Key ratios
As per RHP / filingsTimeline
IPO Opens
23 Sept
IPO Closes
25 Sept
Allotment
26 Sept
Listing
30 Sept
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 23 September 2025 |
| IPO Close Date | 25 September 2025 |
| Allotment Date | 26 September 2025 |
| Listing Date | 30 September 2025 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,742 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,91,646 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,06,388 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,87,714 |
BHNIAbove ₹10,00,000 | 68 | ₹10,02,456 |
IPO Objectives
- Investment in the Subsidiary, KSPL for partfinancing the establishment of the Pandhurana Project.
- General corporate purposes.
Strengths
- The company has an established track record and strong in-house execution capabilities for end-to-end solar EPC solutions.
- It has a robust order book with a significant pipeline of projects, providing clear revenue visibility.
- The business operates with an asset-light model and has shown strong financial performance, with PAT rising by 49% between FY24 and FY25.
- The company is led by an experienced management team and has strong customer relationships built on a focus on quality.
- Its RESCO model provides a stable stream of recurring revenue under long-term power purchase agreements.
Weaknesses
- The company has a high geographical concentration, with a majority of its projects located in a few states.
- It is dependent on government policies and subsidies, which can be subject to delays or changes in regulations.
- The solar industry is highly competitive, which can lead to pricing pressures and impact profit margins.
- The IPO includes an Offer for Sale (OFS) component, meaning a portion of the proceeds will not be directly invested in the company's growth.
- The significant increase in PAT in FY25 (49%) raises questions about its sustainability and may be a one-off event.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 598.02 | 155.02 | 120.43 |
| Revenue (₹ Cr.) | 551.09 | 505.5 | 235.05 |
| PAT (₹ Cr.) | 77.05 | 51.69 | 14.84 |
| Net Worth (₹ Cr.) | 309.07 | 73.6 | 21.91 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Solarworld Energy Solutions | 0 | 39.48 | 40.27% | 309.06 |
| Sterling And Wilson Renewable | 6.28 | 57.87 | 8.09% | 995 |
| Kpi Green Energy Limited | 3.92 | 26.58 | 12.25% | 2,630 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0x | 0.02x | 74.24x |
| NII | 1.53x | 5.83x | 68.21x |
| S-HNI | 2.37x | 9.75x | 71.72x |
| B-HNI | 1.1x | 3.88x | 66.45x |
| RII | 4.81x | 14.37x | 51.69x |
| Total | 1.29x | 4.21x | 68.49x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 41,88,034 | 31,09,05,126 | 10,912.77 |
| NII | 20,94,017 | 14,28,29,820 | 5,013.33 |
| Small NII | 6,98,006 | 5,00,58,288 | 1,757.05 |
| Big NII | 13,96,011 | 9,27,71,532 | 3,256.28 |
| RII | 13,96,011 | 7,21,54,614 | 2,532.63 |
| Total | 76,78,062 | 52,58,89,560 | 18,458.72 |
Company Details
- Solarworld Energy Solutions Ltd.
- 501, Padma Palace, 86, Nehru Place, South Delhi, New Delhi-110019
- 0120 4399946
- support@worldsolar.in
- http://www.worldsolar.in/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- solarworld.ipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html
Frequently Asked Questions
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Sources
We match Solarworld Energy Solutions IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Pvt.Ltd.Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.