Solarworld Energy Solutions IPO Day 1 LIVE: Solarworld Energy Solutions’ ₹490-crore initial public offering (IPO) has opened for bidding today, September 23. The mainboard IPO will conclude on Thursday, September 25. The price band has been fixed in the range of ₹333 to ₹351 per share.
The IPO is a combination of fresh issuance of equity shares worth ₹440 crore, and an offer-for-sale of shares valued ₹50 crore by promoter Pioneer Facor IT Infradevelopers.
Solarworld Energy Solutions IPO Objective
The company plans to use the proceeds from the fresh issue will be used for investment in the company’s subsidiary, Kartik Solarworld, for part-financing the establishment of a 1.2 GW Solar PV TopCon manufacturing facility in Pandhurana, Madhya Pradesh, and general corporate purposes.
Solarworld Energy Solutions IPO GMP
Solarworld Energy Solutions IPO GMP (grey market premium) stands at ₹65. With a price band capped at ₹351, the IPO’s estimated listing price is ₹416. Based on this, the expected gain per share is approximately 18.52%.
Solarworld Energy Solutions, a solar energy solutions provider, specialises in engineering, procurement and construction services for solar power projects.
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