Solarworld Energy Solutions Limited, a leading provider of solar energy solutions, made a positive debut on the Indian stock exchanges on Tuesday, September 30, 2025. Solarworld Energy Solutions shares listed at ₹389 on the Bombay Stock Exchange (BSE), reflecting a 10.83% premium over the issue price of ₹351, and at ₹388.50 on the National Stock Exchange (NSE), up 10.70% from the issue price.
Solarworld Energy IPO Performance
The ₹490 crore IPO received overwhelming investor interest, closing with an overall subscription of 68.49 times. Qualified institutional buyers (QIBs) led the demand with 74.24 times subscription, non-institutional investors (NIIs) subscribed 68.21 times, and the retail investor portion was subscribed 51.69 times. This strong subscription highlights confidence in Solarworld Energy Solutions’ growth potential.
IPO Details
Solarworld Energy Solutions IPO comprised a combination of a fresh issue and offer-for-sale. The price band was set at ₹351–₹351. Investors were allowed to bid in lots of shares, ensuring broad access across retail and institutional categories. The subscription window remained open prior to listing, with allotments finalised ahead of the debut.
Use of Proceeds
Proceeds from the fresh issue will be utilised to partly fund a 1.2 GW TopCon solar cell and module manufacturing facility in Madhya Pradesh through the subsidiary Kartik Solarworld Pvt Ltd, amounting to ₹420 crore. Additional funds will support capital expenditure for solar modules, BESS, and solar PV TopCon cells, along with general corporate purposes.
About Solarworld Energy Solutions
Solarworld Energy Solutions specialises in providing end-to-end engineering, procurement, and construction (EPC) services for solar power projects. The company operates under two models: the Capex model, where customers own the projects, and the RESCO model, which enables solar adoption with minimal upfront costs. With a strong order book of ₹1,700 crore and an established client base including NTPC, SJVN, and Haldiram’s, Solarworld Energy combines project execution capabilities with technological innovation.
The company reported FY25 revenues of ₹551 crore, a 9% year-on-year increase, and a net profit of ₹77 crore, reflecting a 49% growth over the previous year. Profitability remains robust, with a PAT margin of 14.1% and an EBITDA margin of 19.6%. Return ratios are strong, with ROE at 40% and ROCE at 54%, outperforming peers in the solar EPC sector.
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Market Outlook and Conclusion
Solarworld Energy Solutions’ IPO listing at an 11% premium reflects healthy investor sentiment and confidence in the company’s business model. With plans to expand manufacturing capabilities, strengthen research and development, and capitalise on growing domestic demand for renewable energy, the company is positioned for sustainable long-term growth.
The IPO offers investors the opportunity to participate in a leading solar EPC player with a diversified business model, robust financials, and strategic initiatives aimed at scaling operations and delivering consistent returns in the expanding renewable energy market.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
