According to a Crisil Report, India’s power demand is expected to rise at a CAGR of 5.5-6% over the next five years. This growth is attributed to infrastructure expenses, robust economic growth, expanding transmission and distribution networks, and government-led reforms to strengthen state utilities and enhance power supply quality.
Amidst these growth prospects lies a company well-placed to benefit from it. Solarworld Solutions, with its solar energy power solutions, is coming with its ₹490 Crores share market debut. Check this blog for the ultimate Solarworld solutions Ipo analysis.
Solarworld Solutions IPO Details
The Solarworld Solutions IPO is opening soon. Here are the Solarworld Solutions IPO details, The Solarworld Solutions IPO price is also mentioned below.
| IPO Start Date | 23 September 2025 |
| End Date | 25 September 2025 |
| Face Value | ₹5 per share |
| Price Band | ₹333–₹351 Per Share |
| Issue size | ₹490 Cr |
| Lot size | 42 Shares |
| Sale Type | Fresh capital cum offer-for-sale |
| Offer for Sale | ₹50 Cr |
| Fresh Issue | ₹440Cr |
| Issue Type | Book Built Issue |
| Listing At | NSE, BSE |
| Total Issue Size (₹ Cr) | ₹490 Cr |
| Reserved for Market Maker | NA |
| Net Offered to Public | 1,25,35,612 shares |
| Minimum Investment | ₹14,742 |
| Retail Discount | NA |
Solarworld Solutions IPO Timeline
The Solarworld Solutions IPO timeline is explained in the table below:
| IPO Open Date | 23 September 2025 |
| IPO End Date | 25 September 2025 |
| Allotment (tentative) | 26 September 2025 |
| Initiation of Refunds | 29 September 2025 |
| Credit of Shares | 29 September 2025 |
| Tentative Listing Date | 30 September 2025 |
| Cut-off Time for UPI Mandate Confirmation | 25 September 2025 |
Solarworld Solutions IPO Grey Market Premium (GMP)
The Solarworld Solutions IPO GMP today is:
| Date | GMP (₹) | Estimated Listing Price |
| 23 Sept 2025 | ₹65 | ₹416 |
Solarworld Solutions IPO Reservation
The following table highlights the Solarworld Solutions IPO reservation quota:
| Category | %Shares Offered |
| QIB | Minimum 75% |
| NII (HNI) | Maximum 15% |
| Retail Shares Offered | Maximum 10% |
| Total | 100% |
Solarworld Solutions IPO Key Performance Indicators
Key Performance Indicators (KPIs) like Return on Equity (ROE), Return on Capital Employed (ROCE), debt-to-equity ratio, etc, provide a company’s true financial picture. Here’s what Solarworld Solutions’ KPIs look like:
| 2025 | 2024 | 2023 | |
| ROE | 40.27% | 108.25% | 102.4% |
| ROCE | 54.53% | 86.57% | 38.78% |
| Debt to Equity Ratio | 0.37 | 0.83 | 2.95 |
| RoNW | 40.27% | 108.25% | 102.4% |
| PAT Margin | 14.14% | 10.32% | 6.38% |
| EBITDA Margin | 19.60% | 14.19% | 9.84% |
| EPS | ₹10.68 | ₹8 | ₹2.30 |
Solarworld Solutions IPO Financials
Here’s a snapshot of SolarWorld Solutions’ key financials for the last three fiscal years.
| 2025 | 2024 | 2023 | |
| Revenue | 5,447.65 | 5,010.16 | 2,324.61 |
| Total Asset | 5,510.85 | 5,055.02 | 2,350.52 |
| Profit | 770.48 | 516.91 | 148.36 |
(Amount in ₹ million)
Solarworld Solutions IPO Lot Size
For the Solarworld Solutions IPO, each lot size consists of 42 shares. Check out the lot size and minimum investment amount for each category of investors in the Solarworld Solutions IPO:
| Application | Lot Size | Shares | Amount(in ₹) |
| Individual investors (Retail) (Min) | 1 | 42 | 14,742 |
| Individual investors (Retail) (Max) | 13 | 546 | 1,91,656 |
| S-HNI (Min) | 14 | 588 | 2,06,388 |
| S-HNI (Max) | 67 | 2,814 | 9,87,714 |
| B-HNI (Min) | 68 | 2,856 | 10,02,456 |
Solarworld Solutions IPO Promoter Holding
The Solarworld Solutions IPO has the following pre-issue promoter shareholdings vs the post-issue promoter shareholdings:
| Promoter Holding Pre-Issue | 78.7% |
| Promoter Holding Post Issue | – |
The promoters of Solarworld Solutions are:
- Mr. Kartik Teltia,
- Mr. Mangal Chand Teltia,
- Mr. Sushil Kumar Jain,
- Mr. Rishabh Jain,
- and Mrs. Anita Jain.
Solarworld Solutions IPO Anchor Investors Details
Let’s check out the anchor investor details of the Solarworld Solutions IPO:
| Bid Date | 22 September 2025 |
| Shares Offered | 62,82,501 |
| Anchor Portion Size (In Cr.) | ₹220.5 Crores |
| Anchor lock-in period for 50% shares (30 Days)ends on | 28 October 2025 |
| Anchor lock-in period for remaining shares (90 Days) ends on | 27 December 2025 |
SolarWorld Solutions IPO Prospectus
For an in-depth analysis of this IPO, check out these official documents for SolarWorld Solutions:
About Solarworld Solutions
Established in 2013, Solarworld Solutions is a solar energy solutions provider. Its expertise lies in engineering, procurement, and construction services for different solar projects. These services are offered through two separate models:
- CAPEX- Under the Capital Expenditure (CAPEX) Model, it provides end-to-end solutions for solar power projects on a turnkey basis. The services include designing, installing, and commissioning these projects.
- RESCO– Under this Renewable Energy Service Company model, customers do not need to make any upfront investment. They build and run the solar projects, while the customers access clean power at fixed rates.
Both these models provide operations and maintenance services. The projects are widely categorised under ground-mounted and rooftop projects. The major contributor to revenue is the CAPEX model, a significant 87.73% of revenue from operations in FY25. The RESCO model contributed only 0.12%.
Let’s have a look at their revenue breakdown to understand the different revenue segments for the company.
| Segment | Contribution to Revenue from Operations |
| Sale – EPC (Engineering, Procurement & Construction) | 87.73% |
| Sale of products | 11.21% |
| Sale of Services (Operations & Maintenance) | 1.04% |
| Sale of scrap | 0.02% |
*For the Fiscal Year 2025
Since 2014, the company has completed 46 projects and currently works on 8 ongoing projects.
Objectives of the Solarworld Solutions IPO:
The fresh issue component of ₹420 crores is to be received by the company. Let’s have a look at how SolarWorld Solutions plans to use these proceeds
| Fund Utilisation | Amount (in ₹ crores) |
| Capital to invest in the Subsidiary- KSPL for their upcoming Pandhurana Project | ₹ 420 crores |
| General Corporate Purposes | – |
Strengths Of SolarWorld Solutions IPO:
- Consistent track record: The company boasts a strong and diverse in-house expertise and tools that have helped in its consistent track record. It has completed 250 megawatt projects and has over 750 megawatts in progress.
- Robust order book: Solarworld has witnessed its order book grow from ₹5,350.06 million as on March 31, 2023, to ₹25,278.14 million as on July 31, 2025.
- Strong financial position: The company has maintained a powerful financial position over the past three years. Their profits after tax have exceptionally grown at a CAGR of 127.89%.
- Well-established customer relationships: Over the years, Solarworld has managed to build strong customer relationships with corporations like Haldiram Snacks, Ethnic food manufacturing, Moon Beverages, and more.
Risk of Solarworld Solutions IPO:
- Top customer concentration: The company derives almost 80% (FY25) of revenue from operations from the top customer. Any disruption or change in the customer demand may significantly impact the business.
- Risk of cost fluctuations: Solarworld faces a risk of cost delays, supply disruptions, and unexpected capital expenditures.
- Uttar Pradesh geographical concentration: The company’s operations are predominantly concentrated in the state of Uttar Pradesh, with 42 of 46 projects situated in it.
- Competitive Industry: Solarworld operates in a competitive market, where winning EPC project bids are extremely competitive. Winning depends on competitive pricing, financial strengths, and reputation. Failure to succeed may hamper the business significantly.
Conclusion
Solarworld Solutions operates in a highly competitive market with geographical and customer concentration. However, their strong financial performance, robust order book, and consistent track record make them a suitable entrant in this IPO market. Let’s wait to find out how the IPO performs.
FAQs
Solarworls Solutions, a solar energy provider, is launching its IPO on September 23, 2025. The IPO will close on 26th September, 2025. The Solarworld Solutions IPO size is ₹490 Crores, out of which ₹50 Crores is the offer-for-sale component, while ₹440 Crores is the fresh issue.
You can apply for the Solarworld IPO through the Zerodha website or app by following these steps: First, log in to the Zerodha website or app, go to ‘bids’, select ‘Solarworld Solutions IPO’, and click on ‘apply’. Next, pick the number of lots to apply, submit the form, and make a payment.
The Solarworld Solutions IPO opens on September 23, 2025, and closes on September 25, 2025. Its tentative allotment date is September 26, 2025, and the listing date is September 30, 2025.
The Solarworld Solutions IPO lot size is 42 shares. The Solarworld Solutions IPO share price band is between ₹333 and ₹351 per share. This means the minimum investment for a retail investor shall be ₹14,752 per lot.
To apply for the Solarworld Solutions IPO, an investor must have a demat account. Choose to invest in any one of the many online broking platforms. Once the IPO is open for subscription, select the ‘Solarworld Solutions IPO’ and enter the quantity. Then, make the payment to confirm your bid.
The tentative allotment date for the Solarworld Solutions IPO is Friday, 26th September 2025.
The tentative listing date for the Solarworld Solutions IPO is Tuesday, September 30, 2025.
