Share Price Of Solarworld Energy Solutions In Focus Today; Check Latest GMP Ahead Of Listing
Unlisted shares of Solarworld Energy were trading at a premium in the private market ahead of listing today.
Shares of Solarworld Energy Solutions will be listed on the BSE and NSE on September 30. The allotment of shares was completed on September 26, while the subscription window was open from September 23 to September 25.
The mainboard issue was oversubscribed 65.01 times. It received bids for 52,60,95,906 shares against 80,93,092 offered.
Ahead of its listing on Tuesday, the unlisted shares of the company have been in news after the latest grey market premium suggested a positive listing for the Delhi-based solar energy solutions provider. Here's all the latest news surrounding the listing of Solarworld Energy Solutions' IPO.
Solarworld Energy Solutions IPO GMP Today
The GMP for the Solarworld Energy Solutions IPO was Rs 40 as of 8:00 a.m. on September 30. This indicates a listing price of Rs 391 per share at a premium of 11.40% on the upper limit of the price band.
This means the unlisted shares of the company were trading at Rs 391 in the private market ahead of listing on Tuesday. Investors can expect a potential gain of up to 11.4% when shares debut on the BSE and NSE today.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Solarworld Energy Solutions IPO: Key Details
The 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 was set between Rs 333 and Rs 351 per share.
Nuvama Wealth Management Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
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.
Use Of Proceeds
The proceeds from the fresh issue will be used for investment in the subsidiary, Kartik Solarworld Pvt Ltd., for part-financing the establishment of a 1.2 GW solar PV TopCon Cell manufacturing facility in Madhya Pradesh and for general corporate purposes.
About Solarworld Energy Solutions
Solarworld Energy Solutions offers solar energy solutions, specialising in engineering, procurement and construction services for solar power projects. It commenced operations in 2013, providing comprehensive, end-to-end and cost-effective solutions for installing solar power projects for its clients', which comprise public sector undertakings and commercial and industrial clients.
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.
