Solarworld Energy Solutions IPO GMP Gains Ahead Of September 23 Launch; Check Price Band And Key Details

Solarworld Energy Solutions is set to launch an initial public offering (IPO) on September 23 to raise almost Rs 500 crore from the primary market. The company provides services for installing solar systems.

Ahead of its launch, the grey market premium (GMP) for the issue has gained in the last few days.

Here's all you need to know about the grey market premium of Solarworld Energy Solutions IPO. Also check the price band, lot size and important days related to the mainboard issue.

The GMP for the Solarworld Energy Solutions IPO was Rs 68 as of 9:33 a.m. on September 22. It indicates a listing price of Rs 419 apiece at a premium of 19.37% on the upper limit of the price band.

The lowest GMP recorded for the mainboard issue was Rs 33 on September 19.

Note: GMP does not represent official data and is based on speculation.

Solarworld Energy Solutions IPO is a book build issue of Rs 490 crore. It comprises a fresh issue of 1.25 crore shares worth Rs 440 crore and an offer-for-sale (OFS) of 14 lakh shares amounting to Rs 50 crore.

The price band for the IPO is set between Rs 333 and Rs 351 per share.

To participate in the IPO, retail investors need to bid for a single lot size of 42 shares, requiring an investment of Rs 14,742. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,06,388. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 68 lots. It will require an investment of Rs 10,02,456.

Qualified Institutional Buyers (QIBs) will be offered a minimum of 75% of the offer. Retail investors will be allocated a maximum of 10% of the issue and a maximum of 15% will be reserved for Non-Institutional Investors. 

Nuvama Wealth Management Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue.

The subscription window will be open from September 23 to September 25, with the allotment expected to be finalised onSeptember 26. The company will transfer shares to the demat accounts of successful bidders on September 29 and refunds to non-allottees will be done on the same day. The shares of the company are scheduled to list on the BSE and NSE on September 30.

The company will use proceeds from the IPO to invest in its subsidiary and for general corporate purposes.

Solarworld Energy Solutions provides engineering, procurement and construction (EPC) services for setting up solar projects. It is also a manufacturer of solar modules with an annual capacity of 1.8 GW.

The company reported a 49.1% year-on-year (YoY) increase in profit after tax (PAT) to Rs 77.05 crore in FY25 from Rs 51.69  crore in FY24. Revenue from operations rose 8.7% YoY to Rs 544.77 crore in FY25 from Rs 501.02 crore in FY24. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.