Ahmedabad: Solarworld Energy Solutions Limited shall open its bid/offer in relation to its initial public offer of equity shares on Tuesday, September 23, 2025, the company announced today.

As per an official release, “The total offer size of equity shares aggregating up to ₹4,900 million [₹490 crore] comprises a fresh issue aggregating up to ₹4,400 million [₹440 crore] and an offer for sale aggregating up to ₹500 million [₹50 crore] by selling shareholders. The company has previously undertaken a further issue of equity shares aggregating up to ₹1,100 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 press statement added.

As per the press statement, the company proposes to utilise net proceeds from the fresh issue of equity shares and pre-IPO proceeds towards investment in its subsidiary, Kartik Solarworld Private Limited (“KSPL”), for part-financing the establishment of a 1.2 GW solar PV TopCon cell manufacturing facility in Pandhurana, Madhya Pradesh, India, with the balance amount to be used for general corporate purposes.

The offer for sale comprises the sale of equity shares aggregating up to ₹500 million [₹50 crore] by Pioneer Facor IT Infradevelopers Private Limited. Nuvama Wealth Management Limited and SBI Capital Markets Limited are the book-running lead managers (BRLMs) to the offer, the official release stated.

These equity shares are being offered through the Red Herring Prospectus of the company dated September 17, 2025 (the “RHP”) filed with the Registrar of Companies, Delhi and Haryana at New Delhi (the “RoC”) and are proposed to be listed on BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).