Solarworld Energy Solutions IPO - Listing Performance & Details

Solarworld Energy Solutions Limited was incorporated in 2013 and is headquartered in New Delhi, with a corporate office in Noida, Uttar Pradesh. It works in the renewable energy sector, providing solar power engineering, procurement and construction (EPC) services.

The company offers end-to-end EPC solutions for ground-mounted, rooftop and RESCO solar projects, along with operations and maintenance services and battery energy storage systems (BESS). As of July 2025, it had executed about 253.67 MW AC/336.17 MW DC of solar projects and held an order book of about Rs 2,527.81 crore, largely from public sector clients such as SJVN, NTPC and RRVUNL, alongside commercial and industrial customers including Haldiram Snacks. It is also expanding into solar module and cell manufacturing and BESS through subsidiaries ZNSHINE Solarworld, Kartik Solarworld and Solarworld BESS One. As of July 2025, the company employed 277 professionals. The promoters are Kartik Teltia, Rishabh Jain, Mangal Chand Teltia, Sushil Kumar Jain and Anita Jain.

Revenue rose from Rs 235.05 crore in FY23 to Rs 505.50 crore in FY24 and Rs 551.09 crore in FY25, with profit after tax rising from Rs 14.84 crore in FY23 to Rs 51.69 crore in FY24 and Rs 77.05 crore in FY25, as per the RHP. The IPO was a mainboard book-built issue of about Rs 490 crore on the NSE and BSE, comprising a fresh issue of Rs 440 crore and an offer for sale of Rs 50 crore, priced at Rs 333-351 per share, and it listed on 29 September 2025. Net proceeds from the fresh issue were earmarked for investment in subsidiary Kartik Solarworld Private Limited for part-financing a 1.2 GW solar PV TopCon manufacturing facility in Pandhurana, Madhya Pradesh, and general corporate purposes.