Solarworld Energy Solutions Limited

About the company

Incorporated in 2013, Solarworld Energy Solutions Limited is engaged in providing solar energy solutions, specialising in EPC services for solar power projects. It offers comprehensive end-to-end and cost-effective solutions for the installation of solar power projects tailored to its customers’ needs, which comprise PSUs and commercial and industrial clients. As of July 31, 2025, the company has completed projects with a total capacity of 253.67 MW AC/ 336.17 MW DC, and ongoing projects with a capacity of 765 MW AC / 994 MW DC for EPC and 325 MW/650 MWh for BESS. The company offers solutions through two distinct models, namely the capital expenditure CAPEX model and the renewable energy service company (RESCO) model. In FY25, 87.73% of the revenue came from the CAPEX model and 0.12% from the RESCO model. It has completed 46 ground-mounted projects and rooftop installations since 2014, as of July 31, 2025. Ground-mounted projects comprise solar power projects that are installed on land parcels and have historically had a capacity ranging from 10MW - 260MW. Rooftop projects comprise solar power projects that are installed on the rooftops of buildings and structures and have historically had a capacity ranging from 100 KW – 2 MW. The company specialises in EPC services for solar power projects and has more than a decade of experience in executing EPC projects, including design & engineering, procurement and construction. It has also established a sustainable O&M business division, which is aimed at providing forward-integrated full life cycle services to its customers. It provides these services primarily for its executed EPC projects as bundled value-added services. EPC contributed 87.73% of the revenue, sales of products contributed 11.21% and sales of services contributed 1.04% in FY25. The company’s customer mix includes key customers such as SJVN Green Energy Limited, Haldiram Snacks Private Limited, Ethnic Food Manufacturing Private Limited and Samiksha Solarworld Private Limited. Government customers contributed 80.43% and private customers contributed 19.57% of the revenue in FY25. As of July 31, 2025, its Order Book was ₹ 2,527.81 crore. There is a surge expected in solar power capacity, reaching 170-180 GW from FY26 to FY30, significantly surpassing the ~85 GW added between FY19 and FY25. This demand is led by the strong pipeline build-up under existing schemes and new tendering schemes, improvement in technology and mixed resource models. To capitalise on this, the company plans to continue investing in its business development, tendering, and marketing functions to enhance its ability to identify, evaluate, and win new customers. The company intends to establish a manufacturing facility for solar PV TopCon cells in Pandhurana, Madhya Pradesh, with an annual capacity of 1.2 GW, partly funded through the Net Proceeds and the Pre-IPO Proceeds, by investing in its Subsidiary, Kartik Solarworld Private Limited. It is also aiming to drive innovation and technological advancement in the renewable energy sector by establishing strong research and development capabilities. Now, Solarworld Energy Solutions Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹440 crore and an offer for sale of ₹50. The total issue size of the IPO is ₹490.00 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   23 Sept 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   25 Sept 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   26 Sept 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   29 Sept 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   29 Sept 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   30 Sept 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.