About Solarworld Energy Solutions Limited – Mainboard IPO
Solarworld Energy Solutions Limited is a solar energy solutions provider based in New Delhi, India, specializing in engineering, procurement, and construction (EPC) for solar power projects. Established in 2013, the company delivers turnkey solutions for utility-scale plants, commercial, industrial, and public sector projects. Its order book includes work for PSUs and private clients, supporting India’s fast-growing solar infrastructure.
READ FULL DRHP HERE: SEBI|DRHP|SOLARWORLD|
IPO Details
| Key Points | Information |
|---|---|
| IPO Price Band | ₹333 – ₹351 per share |
| Minimum Lot Size | 42 shares (about ₹14,742 at highest price) |
| Issue Size | ₹490 crore (₹440 crore fresh + ₹50 crore OFS) |
| Face Value | ₹5 per share |
| Stock Exchanges | BSE and NSE (Mainboard IPO) |
| Registrar | MUFG Intime India Private Limited |
| Book-running Managers | SBI Capital Markets Limited, Nuvama Wealth |
| Offer Structure | QIB – up to 50%, Retail – up to 35%, NII – up to 15% |
IPO Timeline (Important Dates)
| Event | Date |
|---|---|
| IPO Opens | 23rd September 2025 |
| IPO Closes | 25th September 2025 |
| Allotment Date | 26th September 2025 |
| Refunds/Unsuccessful Bids | 29th September 2025 |
| Shares in Demat Account | 29th September 2025 |
| Listing Date | 30th September 2025 |
What Is the Money Used For?
- The funds raised will be used mainly for:
- Investment in working capital needs
- Repaying or pre-paying certain company borrowings
- General corporate purposes
- Expansion and strengthening operational capacity
Key Financials (as per RHP and Public Prospectus)
| Financial Metric | FY23 (₹ Cr) | FY24 (₹ Cr) | FY25 (₹ Cr) |
|---|---|---|---|
| Revenue from Operations | 232.46 | 501.02 | 544.77 |
| EBITDA | 22.88 | 71.09 | 106.75 |
| EBITDA Margin | 9.8% | 14.2% | 19.6% |
| Profit After Tax (PAT) | 14.84 | 51.69 | 77.05 |
| PAT Margin | 6.4% | 10.3% | 14.1% |
| Net Worth | 21.91 | 73.60 | 309.07 |
| Total Assets | 120.43 | 155.02 | 598.02 |
| Debt to Equity | 0.67 | 0.83 | 0.37 |
| Order Book | 813.04 | 1,700.55 | 2,050.00 |
Explanation of Financial Terms
- Revenue: Total sales made from business
- EBITDA: Operating profit before interest and taxes
- PAT: Final profit after all expenses
- Margins: Profit ratios as a percentage of revenue
- Net Worth: Shareholder equity at year end
- Debt to Equity: Leverage ratio (lower is better)
Analysis
- Revenue grew 134% from ₹232 crore in FY23 to ₹544.77 crore in FY25, supported by robust execution and industry demand.
- PAT climbed by almost 5 times in 3 years, lifting PAT margin to 14.1% as scale and execution improved.
- EBITDA margin sharply improved, indicating better operational control and profitability.
- Net worth and asset base jumped due to healthy profits and reinvestment, with order book doubling to over ₹2,000 crore.
- Debt-equity ratio reduced in FY25, showing balance sheet strengthening.
Why Some Investors Like This Mainboard IPO
- Business is scaling rapidly, with a strong order book and demand outlook.
- Key expertise in EPC for the solar sector positions the company for long-term growth.
- Healthy profitability and margins, with strong improvement trends.
- Proceeds will finance expansion, reduce debt, and support future projects.
- Mainboard IPO brings better visibility and credibility.
Points That Need Caution
- Solar EPC is reliant on government policy and subsidy regime.
- Margins and payments are closely tied to the project execution timeline.
- Borrowings increased meaningfully, although leverage is improving.
- The sector is competitive with thin differentiation among EPC players.
- Project delays or regulatory changes could impact cash flows and growth.
IPO FAQS
What is an IPO?
- An IPO (Initial Public Offering) is when a private company sells its shares to the public for the first time to raise money.
- Example: If a well-known pizza company wants to grow, it can list its shares on the stock exchange so anyone can buy a piece of the company.
How can you apply for an IPO (using Zerodha or Upstox)?
- Make sure you have a Demat account and your bank account is linked.
- Steps:
- Log in to your broker’s app (e.g., Zerodha Kite, Upstox).
- Go to the IPO section.
- Select the company’s IPO you want to apply for.
- Enter how many shares (or ‘lots’) you want and the price you wish to bid.
- Enter your UPI ID, submit your application, and approve the UPI payment request.
How are IPO shares allotted?
- If more people want shares than are available, the company uses a lottery system to decide who gets them.
- If you don’t get shares, your money is simply returned.
What is GMP (Grey Market Premium)?
- GMP shows the extra price people are willing to pay for IPO shares before they officially start trading.
- Example: If IPO price is ₹100 and GMP is ₹20, people are unofficially ready to pay ₹120. It hints at the IPO’s popularity but isn’t a guarantee.
Where to check upcoming IPOs (IPO calendar)?
- Visit popular finance sites like Chittorgarh, IPOWatch, or official exchange websites (NSE, BSE) and look for the “Upcoming IPO” section.
What are IPO listing gains?
- If the share’s price rises on the first trading day, you can make instant profit.
- Example: You buy at ₹150, and it opens at ₹200, you gain ₹50 per share.
How can you make profit from an IPO?
- Quick gains on listing day (if the stock price goes up).
- Long-term: If the company grows, the share price could increase further.
Which IPO is best to buy?
- There is no single best IPO. Check the company’s background, current demand, and GMP, but always research before investing.
- High GMP or popularity doesn’t guarantee profits.
Are IPOs safe?
- IPOs can be profitable but also risky; prices can go up or down sharply.
- Only invest if you are ready for potential losses.
How to check IPO allotment status?
- After the IPO process, check on exchanges (BSE/NSE websites) or the IPO registrar’s site (like K-Fintech, Bigshare,or mufg-intime) by entering your PAN or application number to see if you got shares.
Important Tips for Retail Investors Applying for an IPO
- Use Only Your Own PAN Card:
Avoid using the same PAN card for multiple IPO applications. For example, if you have already applied using your PAN for one IPO, don’t try to apply again with the same PAN under different accounts or through others. - Apply in the Right Category:
Ensure you select the correct investor category (such as Retail Individual Investor) when filling out your application. Applying under a wrong category can lead to rejection or disqualification. - Maintain Sufficient Bank Balance:
Before applying, ensure your bank account linked to the application has enough funds to cover the full bid amount. For instance, if the IPO application requires a payment of ₹15000, make sure your account holds at least that amount. - Use Your Own Bank Account:
Always apply through your own bank account. Using someone else’s account can cause your application to be rejected during the verification process. - Avoid Last-Minute Applications:
Don’t wait until the deadline day or moments before to apply. Last-minute submissions may face technical glitches or processing delays, reducing the chances of success.