Solarworld Energy Solutions Ltd’s initial public offering (IPO) has garnered significant investor interest, becoming oversubscribed by nearly nine times by mid-day on its final subscription day. The IPO, priced within the ₹333-351 range, will close today and has recorded total bids amounting to ₹726.77 crore against an offered size of ₹80.93 crore.
Retail investors displayed the strongest demand, over-subscribing their portion by 23.9 times. Non-institutional investors followed closely, with an oversubscription rate of 16.93 times. High-net-worth individuals, who bid between ₹2-10 lakh, saw their segment oversubscribed 22.58 times, while those investing above ₹10 lakh had a 14.11 times subscription rate.
In contrast, qualified institutional buyers exhibited a lack of engagement, with just 3 percent of their allocated portion subscribed as of noon. Foreign institutional investors did not participate, while domestic financial institutions placed bids for 8,148 shares and mutual funds for a mere 588 shares.
The solar energy company is offering 80.93 lakh shares at a face value of ₹5 each. The issue is being managed by Nuvama Wealth Management and SBI Capital Markets, serving as the book-running lead managers, with MUFG Intime India acting as the registrar.
Given the strong interest from retail investors via UPI applications and cut-off bids averaging ₹2.88 crore, Solarworld appears positioned for a favorable market debut following today’s closure.
