Solarworld Energy Solutions IPO
Solarworld Energy Solutions Limited (SOLARWORLD) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 30 September 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +29.1% (likely range +9% to +40%), day's high +35.6%, chance of a gain 92%. Actual: +10.7% at the open, +10.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 44,14,414 | 31,09,05,126 | 70.4x | |
| NII (HNI) total | 22,07,207 | 14,28,64,596 | 64.7x | |
| Big NII (above ₹10 lakh) | 14,71,472 | 9,27,71,532 | 63.0x | |
| Small NII (₹2-10 lakh) | 7,35,735 | 5,00,93,064 | 68.1x | |
| Retail | 14,71,471 | 7,23,26,184 | 49.2x | |
| Total | 80,93,092 | 52,60,95,906 | 65.0x |
Bids on NSE and BSE together, as published by NSE, as of 25 Sep 2025, 07:00 PM. Shares offered exclude the anchor portion. 11% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Solarworld Energy Solutions's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Cyient DLMJun 2023 | 90.4x | 45.1x | 49.2x | 67.3x | ₹629 Cr | +52.1% | +61.1% |
| Dreamfolks ServicesAug 2022 | 70.5x | 37.7x | 43.7x | 56.7x | ₹562 Cr | +56.0% | +68.4% |
| Apeejay Surrendra Park HotelsFeb 2024 | 75.1x | 52.4x | 30.4x | 59.7x | ₹971 Cr | +20.0% | +44.0% |
| Shringar House of MangalsutraSep 2025 | 101x | 82.6x | 27.2x | 60.3x | ₹401 Cr | +14.2% | +15.8% |
| Gandhar Oil Refinery (India)Nov 2023 | 129x | 62.2x | 28.9x | 64.1x | ₹509 Cr | +76.3% | +103.6% |
| Krsnaa DiagnosticsAug 2021 | 49.8x | 116x | 42.0x | 64.4x | ₹1,215 Cr | +5.4% | +15.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Nuvama Wealth Management | 35 | +11.9% | 66% |
| SBI Capital Markets | 56 | +16.7% | 61% |
Offer documents (NSE)
Frequently asked
What is the Solarworld Energy Solutions IPO price band and lot size? ₹333–351 per share, with a lot of 42 shares, so the smallest retail bid is ₹14,742.
How many times has it been subscribed? 65.0x overall: QIB 70.4x, NII 64.7x, retail 49.2x.
How did it list? It opened at ₹388, +10.7% against the issue price of ₹351, and closed its first day -7.8%.
