Solarworld Energy Solutions made its stock market debut today, with shares listing a premium of 11% over the IPO price of Rs 351 per share. The stock was listed on both the NSE and BSE.
Solarworld Energy Solutions shares listed at Rs 389 on the BSE. This is about 10.83% higher than the issue price of Rs 351. On the NSE, the stock opened at Rs 388.50, a 10.68% premium.
Lets take a look at the key highlights of the issue
Solarworld Energy Solutions IPO: Grey market buzz ahead of listing
Ahead of the debut, the grey market premium (GMP) stood at around Rs 40 per share. This indicated nearly 11.4% above the IPO price.
However, it is important to note that GMP is not the official listing price and may fluctuate based on the market condition.
Solarworld Energy Solutions IPO: Subscription figures
The Rs 490 crore public issue saw strong participation during its September 23–25 subscription window.
Investors applied for 52.58 crore shares against 76.78 lakh shares on offer, translating into an impressive 68.49 times overall subscription.
Interest was strong across categories, with QIBs bidding 74.24 times, NIIs 68.21 times, and retail investors 51.69 times.
Solarworld Energy Solutions IPO: Where the funds will go
Proceeds from the fresh issue will largely be channelled into Kartik Solarworld, a subsidiary of the company, to partly fund the establishment of a 1.2 GW solar PV TopCon manufacturing facility in Pandhurana, Madhya Pradesh. A portion will also be set aside for general corporate purposes.
Company snapshot
Solarworld Energy Solutions provides engineering, procurement and construction (EPC) services for solar power projects and positions itself as one of the leading players in the renewable energy solutions space.