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Solarworld Energy Solutions Ltd listed on the stock market with shares opening nearly 11 per cent above the IPO price, reflecting strong investor interest. The INR 490-crore IPO, including fresh equity and promoter share sales, was oversubscribed 65 times on the final bidding day. Funds from the fresh issue will help the subsidiary, Kartik Solarworld, develop a 1.2 GW Solar PV TopCon manufacturing facility in Madhya Pradesh and support general corporate purposes. The company, offering EPC services for solar projects, continues to expand its operations and is well-positioned to meet growing demand in India's renewable energy sector.
Shares of Solarworld Energy Solutions Ltd opened strongly on the stock market, listing nearly 11 per cent above the IPO price of INR 351 per share. On the BSE, the stock debuted at INR 389, marking a gain of 10.82 per cent, while on the NSE, it opened at INR 388.50, up 10.68 per cent. Following the listing, the company's market capitalization reached INR 2,888.37 crore. Advertisement
The IPO, worth INR 490 crore, was highly oversubscribed, receiving 65 times more bids than available shares on the final day. The issue had a price band of INR 333-351 per share. It comprised a fresh issuance of equity shares worth INR 440 crore and an offer-for-sale of INR 50 crore by the promoters, Pioneer Facor IT Infradevelopers.
Proceeds from the fresh issue will be primarily used to invest in the company's subsidiary, Kartik Solarworld, to partly finance the development of a 1.2 GW Solar PV TopCon manufacturing facility at Pandhurana in Madhya Pradesh. Additional funds will be utilized for general corporate purposes.
Solarworld Energy Solutions specializes in engineering, procurement, and construction (EPC) services for solar power projects. The company has been actively expanding its solar portfolio, providing end-to-end solutions from project design to execution. Its operations include developing large-scale solar projects, offering installation services, and ensuring efficient project management for clients.
The strong market response reflects investor confidence in both the company's business model and the renewable energy sector in India. The IPO success demonstrates the increasing appetite for investments in companies involved in sustainable energy infrastructure.
Source PTI
5th Jun, 2025
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