The initial public offering (IPO) of Solarworld Energy Solutions, which opened on Tuesday, September 23, was fully subscribed on the first day.
The IPO was booked 2.55 times as of 12:57 p.m. on Wednesday.
The unlisted shares have been trading at a premium in the grey market (GMP), indicating positive listing gains for investors.
Amid the ongoing subscription, the GMP as well as the Day 2 subscription status of Solarworld Energy Solutions are in focus today. Here's a look at what the latest trends indicate for the IPO.
Solarworld Energy Solutions IPO GMP Today
The GMP for the Solarworld Energy Solutions IPO stood at Rs 62 per share as of 11:30 a.m. on September 24. It indicates a listing price of Rs 413 apiece at a premium of 17,66% over the upper limit of the IPO price band.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Solarworld Energy Solutions IPO 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 IPO was booked 1.23 times on Day 1. Non-Institutional Investors booked the issue 1.45 times whereas Retail Investors booked the IPO 4.57 times.
The price band for the IPO is set between Rs 333 and Rs 351 per share.
The subscription window for the IPO is open from September 23 to close on September 25.
Share allotment status is expected to be finalised on September 26. Shares of Solarworld Energy Solutions are tentatively scheduled to be listed on the BSE and NSE on September 30.
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.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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