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Chandigarh – Solarworld Energy Solutions Limited (“Solarworld” or the “Company”), a rapidly growing renewable energy player, will come out with its Initial Public Offering (IPO) on Tuesday, 23 September 2025. The three-day issue will terminate on Thursday, 25 September 2025, whereas the Anchor Investor Bidding will start a day earlier, that is, Monday, 22 September 2025.
The IPO will have an aggregate issue size of ₹490 crore (₹4,900 million) involving a fresh issue of ₹440 crore and an Offer for Sale (OFS) of ₹50 crore by the promoter selling shareholder.
Price Band and Lot Size
Price band for the IPO has been set at ₹333 to ₹351 per face value of ₹5 equity share. Bids can be made by investors for a minimum of 42 equity shares and in multiples of 42 thereafter.
Such a structure caters to wider participation across retail, institutional, and non-institutional segments and makes the IPO reachable to a wide range of investors.
Utilisation of Proceeds
The organization plans to utilize the net proceeds from the new issue as well as prior Pre-IPO placement proceeds on critical strategic initiatives.
A significant amount of the funds will be used to invest in Kartik Solarworld Private Limited (KSPL), a subsidiary company, to partially fund the setting up of a 1.2 GW solar PV TopCon Cell manufacturing unit at Pandhurana, Madhya Pradesh. Upon commencing operations, the facility would significantly increase the company’s renewable energy manufacturing capacity and enhance India’s indigenous solar value chain.
The remaining proceeds will be utilized for general corporate purposes, providing the company with additional flexibility in running operations, expansion, and future growth prospects.
Offer for Sale (OFS) Component
The Offer for Sale will have Pioneer Facor IT Infradevelopers Private Limited, the Promoter Selling Shareholder, selling shares of ₹50 crore value. Even with partial dilution, the faith in the company’s long-term path of the promoters is high.
Pre-IPO Placement
Prior to the IPO, the firm had raised ₹1,100 million (₹110 crore) through the Pre-IPO Placement, which was concluded successfully on November 9, 2024. The pre-IPO placement consolidated Solarworld’s balance sheet and synchronized strategic investors with its future growth path before the public offering.
Lead Managers and Listing
Nuvama Wealth Management Limited and SBI Capital Markets Limited are the Book Running Lead Managers (BRLMs) for the issue. On allotment, the equity shares will be listed on both BSE Limited (BSE) and National Stock Exchange of India Limited (NSE), thereby widening visibility and liquidity for investors.
Industry Outlook and Significance
Solarworld Energy Solutions Limited’s IPO is at a time when India’s renewable energy industry is growing at a very fast rate due to government efforts, increasing demand for clean energy, and the nation’s determination to become net zero by the year 2070.
The planned Pandhurana plant is a notable milestone for India’s solar manufacturing industry, especially for TopCon (Tunnel Oxide Passivated Contact) technology, which is being seen as the next-generation solar PV technology with more efficiency than traditional modules.
The Solarworld’s IPO is seen by industry analysts as a major move towards fast-tracking India’s vision of becoming self-dependent in solar manufacturing while de-imperializing dependence on imports.
Corporate Perspective
Declaring the IPO, Solarworld’s management reiterated its faith in the company’s growth path and reaffirmed its focus on the pursuit of innovation, efficiency, and sustainability along the renewable energy value chain.
Through the use of new capital, state-of-the-art technology, and strategic collaborations, Solarworld seeks to become a champion of India’s clean energy revolution while generating long-term value for investors and stakeholders.
Having a strong business plan, a major solar manufacturing project on the anvil, and a well-chalked-out IPO, Solarworld Energy Solutions Limited is set to draw substantial investor attention. The mix of fresh issue proceeds, OFS component, and pre-IPO placement indicates both growth plans and promoter optimism.
With the IPO window opening on September 23, 2025, market players would be closely observing the subscription reaction, which may determine the tone for future renewable energy IPOs in India’s capital market.
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