Solarworld Energy Solutions Limited, founded in 2013 and headquartered in New Delhi with a corporate office in Noida, is a leading solar energy solutions provider. The company specializes in Engineering, Procurement, and Construction (EPC) services for solar projects and is actively driving India’s renewable energy transition.
Solarworld operates through two key models designed to cater to diverse customer needs:
- Capital Expenditure (CAPEX) Model
- Offers end-to-end solar project solutions including design, installation, setup, and commissioning.
- Ownership of the solar asset remains with the customer, who benefits from long-term cost savings.
- Renewable Energy Service Company (RESCO) Model
- Enables customers to adopt solar energy without upfront investment.
- Reduces both the carbon footprint and the financial burden, making solar adoption more accessible to businesses.
On May 14, 2024, the company entered into an equity cooperation agreement with ZNSHINE PV-Tech Co. Ltd., a BloombergNEF tier-1 solar panel supplier from China. This partnership is aimed at establishing a solar panel manufacturing facility in India, strengthening Solarworld’s supply chain and supporting the government’s push for domestic manufacturing.
Through its subsidiaries — ZNSHINE Solarworld Private Limited, Kartik Solarworld Private Limited, and Solarworld BESS One Private Limited — the company is also building capabilities in battery energy storage systems (BESS), enabling hybrid and future-ready renewable energy solutions.
Solarworld serves a wide range of clients, including SJVN Green Energy, Haldiram Snacks, Ethnic Food Manufacturing, and Samiksha Solarworld, reflecting its capability to cater to both industrial and corporate sectors.
As of July 31, 2025, the company employed 277 professionals, underscoring its strong in-house expertise in engineering, execution, and project management.
Solarworld Energy Solutions IPO – Details
| IPO Opening Date | 23 September 2025 |
| IPO Closing Date | 25 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,39,60,113 Shares Worth ₹490.00 Crore Fresh Issue: 1,25,35,612 Shares Worth ₹440.00 Crore Offer For Sale: 14,24,501 Shares Worth ₹50.00 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹333 – ₹351 per share |
| Market Lot | 42 Shares |
| Min Order | 42 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Solarworld Energy Solutions IPO – Date Schedule
| IPO Open Date | 23 September 2025 |
| IPO Close Date | 25 September 2025 |
| Basis of Allotment | 26 September 2025 |
| Initiation of Refund | 29 September 2025 |
| Credit of Shares to Demat Account | 29 September 2025 |
| IPO Listing Date | 30 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2025 |
Solarworld Energy Solutions IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 42 | ₹14,742 |
| Retail (Max) | 13 | 546 | ₹1,91,646 |
| S-HNI (Min) | 14 | 588 | ₹2,06,388 |
| S-HNI (Max) | 67 | 2,814 | ₹9,87,714 |
| B-HNI (Min) | 68 | 2,856 | ₹10,02,456 |
Competitive Strength
- Established track record and strong in-house execution capabilities for end-to-end solar EPC solutions
- Strong financial performance driven by asset light business model
- Strong customer relationships built on reliable delivery of projects with a significant focus on quality.
- Experienced management team and qualified personnel with significant industry experience.
Company Promoters
- Kartik Teltia
- Rishabh Jain
- Mangal Chand Teltia
- Sushil Kumar Jain
- Anita Jain
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹235.05 Cr | ₹217.13 Cr | ₹14.84 Cr | ₹64.67 Cr |
| 31 March 2024 | ₹505.50 Cr | ₹439.37 Cr | ₹51.69 Cr | ₹61.10 Cr |
| 31 March 2025 | ₹551.09 Cr | ₹441.98 Cr | ₹77.05 Cr | ₹114.55 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 40.27% |
| ROCE | 54.53% |
| Debt/Equity | 0.37 |
| RoNW | 40.27% |
| PAT Margin | 14.14% |
| EBITDA Margin | 19.60% |
| Pre IPO | Post IPO | |
| EPS (₹) | 10.39 | 8.89 |
| P/E (x) | 33.77 | 39.48 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Investment in the Subsidiary, KSPL for partfinancing the establishment of the Pandhurana Project. | ₹575.30 |
| General corporate purposes. |
Solarworld Energy Solutions IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 1 | Sterling & Wilson Renewable Energy Limited | 76.48 |
| 2 | 5 | KPI Green Energy Limited | 30.57 |
| 3 | 2 | Waaree Renewable Technologies Limited | 47.32 |
| 4 | 10 | Gensol Engineering Limited | – |
| 5 | 10 | Oriana Power Limited | 29.01 |
✅Strengths
- lexible CAPEX and RESCO models to serve different customer needs.
- Partnership with ZNSHINE PV-Tech for solar panel manufacturing.
- Diverse clientele including SJVN Green Energy and Haldiram Snacks.
⚠️Risks
- Policy and regulatory changes in the solar sector may impact growth.
- High competition from other EPC and renewable players.
- Project execution risks, such as delays or cost overruns.
Solarworld Energy Solutions IPO Promoter Holding
| Pre Issue Share Holding | 78.89% |
| Post Issue Share Holding | 65.67% |
Solarworld Energy Solutions IPO Prospectus
Company Contact Information
| Solarworld Energy Solutions Ltd. 501, Padma Palace, 86, Nehru Place, South Delhi, New Delhi, New Delhi, 110019 Phone: 0120 4399946 Email: support@worldsolar.in Website: http://www.worldsolar.in/ |
Solarworld Energy Solutions IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: solarworld.ipo@linkintime.co.in Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Solarworld Energy Solutions IPO Lead Manager(s)
| 1. SBI Capital Markets Limited 2. Nuvama Wealth Management Limited |
Solarworld Energy Solutions IPO FAQs
| What is Solarworld Energy Solutions IPO? Solarworld Energy Solutions IPO is a main-board IPO. The issue is priced at ₹333 to ₹351 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Solarworld Energy Solutions IPO open? The IPO is to open on 23 September 2025 for QIB, NII, and Retail Investors. |
| What is Solarworld Energy Solutions IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| What is Solarworld Energy Solutions IPO Size? Solarworld Energy Solutions IPO size is ₹490.00 Crore. |
| What is the Solarworld Energy Solutions IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 42 Shares with ₹14,742, while the maximum bid is 546 Shares with ₹1,91,646. |
| What is the Solarworld Energy Solutions IPO Allotment Date? Solarworld Energy Solutions IPO allotment date is 26 September 2025. |
| What is the Solarworld Energy Solutions IPO Listing Date? Solarworld Energy Solutions IPO listing date is 30 September 2025. The IPO is to be listed on BSE and NSE. |
