Solarworld Energy Solutions Ltd. is launching its Mainboard IPO to raise funds for investment in its subsidiary (KSPL) and general corporate purposes. The IPO aims to raise ₹600 crores, with a fresh issue of ₹550 crores. The offer for sale details, price band, and lot size are yet to be finalized. Shares are planned to be listed on BSE and NSE in 2025.
Key IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | 2025 |
| IPO Close Date | 2025 |
| Listing Date | 2025 |
| Face Value | ₹5 per equity share |
| Price Band | ₹[.] to ₹[.] per share |
| Issue Size | Approx. ₹600 Crores |
| Fresh Issue | Approx. ₹550 Crores |
| Offer for Sale | To be updated |
| Issue Type | Book Built Issue |
| IPO Listing | BSE & NSE |
| Retail Quota | Not more than 10% |
| QIB Quota | Not more than 75% |
| NII Quota | Not more than 15% |
Important IPO Dates
| Event | Date |
|---|---|
| IPO Opening | 2025 |
| IPO Closing | 2025 |
| Basis of Allotment | 2025 |
| Refund Initiation | 2025 |
| Demat Credit | 2025 |
| Listing Date | 2025 |
Promoters
- Kartik Teltia
- Rishabh Jain
- Mangal Chand Teltia
- Sushil Kumar Jain
- Anita Jain
About the Company
Incorporated in 2013, Solarworld Energy is a leading solar energy solutions provider, specializing in engineering, procurement, and construction (EPC) services for solar power projects. The company has completed projects with a total capacity of 253.67 MW (AC) / 336.17 MW (DC) and is working on projects with a combined capacity of 420 MW (AC) / 592 MW (DC). Solarworld offers turnkey solutions to PSUs and C&I clients, handling everything from design to installation with 136 permanent employees.
Financial Performance
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | PAT (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2022 | 31.91 | 30.46 | 2.20 | 67.40 |
| 2023 | 235.05 | 217.13 | 14.84 | 120.43 |
| 2024 | 505.50 | 439.37 | 51.69 | 155.02 |
Key Financial Ratios (FY2024)
| KPI | Value |
|---|---|
| ROE | 108.25% |
| ROCE | 92.06% |
| EBITDA Margin | 14.19% |
| PAT Margin | 10.32% |
| Debt to Equity Ratio | 0.83 |
| EPS (Basic) | ₹8.00 |
| P/E Ratio | N/A |
| RoNW | 108.25% |
| Net Asset Value (NAV) | ₹11.39 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Sterling & Wilson Renewable Energy Limited | (10.40) | NA | (58.99%) | 40.95 | 3,035.37 Cr. |
| KPI Green Energy Limited | 28.17 | 31.88 | 29.56% | 138.63 | 1,023.90 Cr. |
| Waaree Renewable Technologies Limited | 14.22 | 135.82 | 93.39% | 22.28 | 876.44 Cr. |
| Gensol Engineering Limited | 15.80 | 52.33 | 20.52% | 82.66 | 963.10 Cr. |
| Oriana Power Limited | 33.41 | 66.63 | 60.16% | 77.50 | 382.88 Cr. |
Purpose of the IPO
- Investment in subsidiary KSPL for Pandhurana Project
- General corporate purposes
Registrar & Contact Details
Registrar:
MUFG Intime India Private Limited
Phone: +91-22-4918 6270
Email: solarworldenergy.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Lead Managers:
Nuvama Wealth Management Limited
SBI Capital Markets Limited
Company Address:
Solarworld Energy Solutions Limited
501, Padma Palace, 86, Nehru Place, South Delhi,
New Delhi – 110 019, Delhi, India
Phone: 0120 4399946
Email: support@worldsolar.in
Website: http://www.worldsolar.in/
Reviews
The company has demonstrated strong financial growth and operational expansion in the solar EPC segment. Investors may consider for long-term investment, but are advised to research further and consult financial advisors before investing.