Solarworld Energy Solutions Unveils IPO Price Band, Set to Open on September 23
Solarworld Energy Solutions has set its IPO price band at Rs 333-351 per equity share. The IPO, opening on September 23 and closing on September 25, comprises a fresh issue of Rs 440 crore and an offer for sale of Rs 50 crore. The company, operating since 2013, specializes in solar energy solutions and EPC services. Proceeds will be used to establish a 1.2 GW solar PV TopCon Cell manufacturing facility and for general corporate purposes. Nuvama Wealth Management and SBI Capital Markets are managing the IPO.
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Solarworld Energy Solutions, a prominent player in the solar energy sector, has announced the price band for its Initial Public Offering (IPO) at Rs 333-351 per equity share. The IPO is scheduled to open on September 23 and close on September 25, marking a significant milestone for the company.
IPO Details
The IPO comprises two components:
- Fresh share issuance worth Rs 440.00 crore
- Offer for sale by promoter Pioneer Facor IT Infradevelopers, amounting to Rs 50.00 crore
Key Dates
| Event | Date |
|---|---|
| IPO Opening | September 23 |
| IPO Closing | September 25 |
| Share Allocation | September 26 |
| Listing on BSE and NSE | September 30 |
Company Profile
Solarworld Energy Solutions has been operating since 2013, specializing in:
- Solar energy solutions
- Engineering, procurement, and construction (EPC) services for solar power projects
The company boasts a diverse clientele, including:
- SJVN Green Energy
- Ethnic Food Manufacturing
- Haldiram Snacks
- Samiksha Solarworld
Utilization of Proceeds
The funds raised through the IPO will be primarily used for:
- Investing in subsidiary Kartik Solarworld to establish a 1.2 GW solar PV TopCon Cell manufacturing facility in Madhya Pradesh
- General corporate purposes
Lead Managers
The IPO is being managed by two prominent financial institutions:
- Nuvama Wealth Management
- SBI Capital Markets
This IPO presents an opportunity for investors to participate in India's growing solar energy sector. Solarworld Energy Solutions' established presence in the market and its plans for expansion with a new manufacturing facility highlight the company's ambitions in the renewable energy space.
Potential investors are advised to review the company's prospectus and consult with financial advisors before making investment decisions.
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