National, September 18, 2025: Solarworld Energy SolutionsLimited (“Solarworld” or the “Company”) shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Tuesday, September 23, 2025.
The total offer size of Equity Shares aggregating up to ₹ 4,900 million [₹ 490 crore] comprises of fresh issue aggregating up to ₹ 4,400 million [₹440 crore] and Offer for Sale aggregating up to ₹ 500 million [₹ 50 crore] by Selling Shareholders. The Company has previously undertaken a further issue of Equity Sharesaggregating up to 1,100.00 million, through a Pre-IPO Placement, completed on November 9, 2024.
The Anchor Investor Bidding Date shall be Monday, September 22, 2025. The Bid/Offer will open on Tuesday, September 23, 2025 for subscription and will close on Thursday, September 25, 2025.
The Price Band of the Offer has been fixed at₹ 333 to ₹ 351 per Equity Share. Bids can be made for a minimum of 42 Equity Shares and in multiples of 42 Equity Shares thereafter.
The Company proposes to utilise net proceeds from fresh issue of Equity Shares and Pre-IPO Proceeds towards Investment in our Subsidiary, Kartik Solarworld Private Limited (“KSPL”) for part-financing the establishment of a 1.2 GW solar PV TopConCell manufacturing facility in Pandhurana, Madhya Pradesh, India (the “Pandhurana Project”) and balance amount towards general corporate purposes (“Object of Offer”).
The offer for sale comprises of sale of Equity shares aggregating up to ₹ 500.00 million [₹ 50 crore] by Pioneer Facor IT Infradevelopers Private Limited (the “Promoter SellingShareholder”)
Nuvama Wealth Management Limited and SBI Capital Markets Limited are the Book Running Lead Managers or BRLMs to the Offer.
This Equity Shares are being offered through the red herring prospectus of the Company dated September 17, 2025 (the “RHP”) filed with Registrar of Companies, Delhi and Haryana at New Delhi (The “RoC”) and are proposed to be listed on the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).
The Offer is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made through the Book Building Process in accordance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the “Anchor Investor Portion”). One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“Net QIB Portion”).
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.
Further, not more than 15% of the Offer shall be available for allocation to Non-Institutional Investors (out of which one third shall be reserved for Bidders with Bids exceeding ₹ 0.20 million up to ₹ 1.00 million and two-thirds shall be reserved for Bidders with Bids exceeding ₹ 1.00 million) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, not more than 10% of the Offer shall be available for allocation to Retail Individual Investors (‘RIIs’) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Account (as defined hereinafter) and UPI ID in case of UPI Bidders (defined hereinafter), which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Banks, as the case may be, to the extent of their respective Bid Amounts. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, see “Offer Procedure” on page 423.
All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.
Disclaimer:
Solarworld Energy Solutions Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed the red herring prospectus (“RHP”) with the Registrar of Companies, Delhi and Haryana at New Delhi. The RHP is available on the website of the Company at https://worldsolar.in/investors/, website of SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, Nuvama Wealth Management Limited and SBI Capital Markets Limited at www.nuvamawealth.in and www.sbicaps.com respectively, and the websites of National Stock Exchange of India Limited and BSE Limited at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP. Potential investors should not rely solely on the DRHP filed with SEBI for any investment decision.
This announcement does not constitute an offer of the Equity Shares for sale in any jurisdiction, including the United States, and the Equity Shares may not be offered or sold in the United States absent registration under the US Securities Act of 1933 or an exemption from registration. Any public offering of the Equity Shares to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. However, the Equity Shares are not being offered or sold in the United States.
Disclaimer clause of NSE:
It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the RHP for the full text of the ‘Disclaimer Clause of NSE’
Disclaimer clause of BSE:
It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Red Herring Prospectus has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Red Herring Prospectus. The investors are advised to refer to the Red Herring Prospectus for the full text of the ‘Disclaimer Clause of NSE’