Solar World Energy Solutions is preparing to launch an IPO of Rs 600 crore, know the details

Solar World Energy Solutions is gearing up to raise Rs 600 crore through its upcoming IPO, with Rs 50 crore designated for an ‘Offer for Sale’ by promoter Pioneer Faker IT Infradevelopers.

In this IPO, promoters will hold 82.15% of the shares, while 17.85% will be allocated to Value Quest Scale Fund and public shareholders. SBI Capital Markets and Nuvama Wealth Management have been appointed as merchant bankers for the initiative.

Know the Work of Solar World Energy Solutions

Specializing in engineering and EPC services, Solar World Energy Solutions is making significant strides in the solar energy sector. The company focuses on the construction and maintenance of solar projects, recently partnering with ZNSHINE PV Tech to establish solar panel manufacturing facilities.

By implementing CAPEX and RESCO models, Solar World not only executes solar projects but also commits to long-term maintenance services. As of August 2024, the company boasts an order book of Rs 799.7 crore, indicating strong market credibility.

Know About the Purpose of IPO

The primary objective of the IPO is to establish a new solar power generation unit in Pandhurna, Madhya Pradesh, with an investment of Rs 420 crore for a 1.2 GW capacity solar PV unit. Financing will primarily come from Karthik Solar World, enhancing the company’s growth trajectory.

Financially, Solar World is robust, reporting a net profit of Rs 51.7 crore this fiscal year, a remarkable 248.4% increase from the previous year, alongside a revenue surge of 115.5% to Rs 501 crore.