Summary of this article
Solarworld Energy Solutions shares debuted at Rs 388.50 apiece on NSE, and at Rs 389 apiece on BSE, reflecting a premium of nearly 11 per cent.
Solarworld Energy Solutions IPO traded at Rs 40, or 11.4 per cent GMP ahead of listing.
The company plans to use the net proceeds for setting up a solar PV TopCon cell plant
Solarworld Energy Solutions made a positive debut on the bourses on September 30, with shares listing at a premium of nearly 4.50 per cent per cent to its final issue price of Rs 351.
The stock listed at Rs 388.50 apiece on the National Stock Exchange (NSE), a premium of 10.68 per cent, and on the Bombay Stock Exchange (BSE), it listed at Rs 389 per share, a premium of 10.83 per cent.
Ahead of the listing, Solarworld Energy Solutions IPO was quoting a grey market premium (GMP) of Rs 40 per share, or 11.40 per cent.
Solarworld Energy Solutions IPO Details
Through its initial public offering (IPO), Solarworld Energy Solutions raised Rs 490 crore by issuing a combination of 12.54 million fresh equty shares worth Rs 440 crore, and an offer for sale component of 1.42 million equity shares worth Rs 50 crore.
The subscription window for Solarworld Energy Solutions IPO was open from September 23 to September 25, and the basis of allotment of share were finalised by September 26. Shares were offered with a price band of Rs 333-351 per share in lot size of 42 shares.
Nuvama Wealth Management and SBI Capital Markets were the book-running lead managers, and MUFG Intime India was the registrar to the issue.
The company plans to use the net proceeds and pre-IPO funds to invest in its subsidiary Kartik Solarworld Pvt Ltd for setting up a 1.2 GW solar PV TopCon cell plant in Pandhurana, Madhya Pradesh, and for general corporate purposes.
Solarworld Energy Solutions IPO Subscription Details
During the three-day bidding window, Solarworld Energy Solutions IPO saw robust demand from across investor categories, receiving an overall subscription of 65.01 times the shares on offer.
The qualified institutional buyer (QIB) category saw 70.43 times subscription, the non-institutional investors (NIIs) quota was booked 64.73 times, and the retail investors portion was subscribed 49.15 times.
Solarworld Energy Solutions IPO Anchor Investor List
Earlier on September 22, ahead of the opening of the three-day bidding window, Solarworld Energy Solutions raised Rs 220.50 from anchor investors. Several private equity funds participated in the anchor round, including market veteran Madhusudan Kela- and his son Yash Kela-owned Singularity Equity Fund I, which invested around Rs 24.89 crore at Rs 351 apiece. Mutual fund scheme Motilal Oswal Large Cap Fund bought shares worth Rs 24.89 crore at the same price.
