Solarworld Energy Solutions IPO opens for subscription on tomorrow (Tuesday, September 22). Solarworld Energy Solutions specializes in providing solar energy services, focusing on the engineering, procurement, and construction of solar power initiatives.
Since its inception in 2013, it has offered comprehensive and cost-efficient solutions for the installation of solar power projects for various clients, including public sector undertakings (PSUs) as well as commercial and industrial organizations.
The company’s clients include SJVN Green Energy Limited, Ethnic Food Manufacturing Private Limited, Haldiram Snacks Private Limited, and Samiksha Solarworld Private Limited.
As per the red herring prospectus (RHP), the company’s listed peers are Sterling & Wilson Renewable Energy Ltd (with a P/E of 76.48), KPI Green Energy (with a P/E 30.57), Waaree Renewable Technologies (with a P/E of 47.32), Gensol Engineering Ltd, and Oriana Power Ltd (with a P/E of 29.01).
10 key things to know about Solarworld Energy Solutions IPO
Solarworld Energy Solutions IPO date: Solarworld Energy IPO opens for subscription on Tuesday, September 23 and closes on Thursday, September 25.
Solarworld Energy Solutions IPO price band: Solarworld Energy IPO price band has been fixed in the range of ₹333 to ₹351 per equity share of face value of ₹5.
Solarworld Energy Solutions IPO lot size: Solarworld Energy IPO lot size is 42 equity shares and in multiples of 42 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Solarworld Energy Solutions IPO is scheduled to take place today (Monday, September 22).
Solarworld Energy Solutions IPO details: Solarworld Energy Solutions IPO includes a new share issuance worth up to ₹440 crore and a ₹50 crore offer for sale. Pioneer Facor IT Infradevelopers, the promoter, is selling a portion of its stake through the offer for sale.
Solarworld Energy Solutions IPO objective: The proceeds from the fresh issue will be allocated towards investment in the subsidiary, Kartik Solarworld, to partially fund the development of a 1.2 GW solar PV TopCon Cell manufacturing facility in Madhya Pradesh, and for general corporate purposes.
Solarworld Energy Solutions IPO listing date and allotment details: Tentatively, Solarworld Energy IPO basis of allotment of shares will be finalised on Friday, September 26 and the company will initiate refunds on the same day, while the shares will be credited to the demat account of allottees on Monday, September 29. Solarworld Energy IPO shares are likely to be listed on BSE and NSE on Tuesday, September 30.
Lead Manager and Registrar of Solarworld Energy Solutions IPO: The lead managers of the issue are Nuvama Wealth Management and SBI Capital Markets. MUFG Intime India Pvt.Ltd is the registrar of the issue.
Solarworld Energy Solutions IPO reservation: Solarworld Energy IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
Solarworld Energy Solutions IPO GMP today: Solarworld Energy IPO GMP today or grey market premium is +65. This indicates Solarworld Energy share price were trading at a premium of ₹65 in the grey market on Monday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Solarworld Energy share price was indicated at ₹416 apiece, which is 18.52% higher than the IPO price of ₹351.
According to the recent activities in the grey market over the past five sessions, today’s IPO GMP is showing an upward trend and is anticipated to have a solid listing. The lowest GMP recorded is ₹0.00, while the highest GMP stands at ₹68, as per expert opinions.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
