Solarworld Energy share price: Stock lists at nearly 11% premium on NSE; here's how much investors gained per lot

Solarworld Energy share price: Shares of Solarworld Energy listed at ₹388.50 on the National Stock Exchange (NSE) on Tuesday, September 30. This shows a premium of 10.68% over the IPO issue price of ₹351 per share.

On the BSE, the stock debuted at ₹389, reflecting 10.83% premium from the issue price.

Solarworld Energy share price: Here's how much investors gained

The ₹490 crore public offer was a fresh issuance of ₹440 crore and an offer for sale (OFS) of ₹50 crore by promoter Pioneer Facor IT Infradevelopers. It had a price band of ₹333 to ₹351 per share.

The fresh issue proceeds will be used for investment in the company's unit Kartik Solarworld for partially funding the set-up of a 1.2 GW Solar PV TopCon manufacturing facility and general corporate purposes.

The IPO secured bids for 52,60,95,906 shares as against 80,93,092 shares on offer. This shows a total subscription of 65.01 times, according to the BSE data.

Prior to the IPO, the company had collected ₹220.5 crore in the anchor round from investors including Pinebridge Global Funds, Motilal Oswal Mutual Fund, VQ Fastercap Fund II, Singularity Equity Fund I, BNP Paribas Financial Markets and Citigroup Global Markets Mauritius. It allotted 62.82 lakh shares to 15 funds at ₹351 apiece.

Solarworld Energy Solutions offers EPC (engineering, procurement and construction) services for solar power projects. It provides comprehensive, cost-effective and end-to-end solutions for the installation of solar power projects based on customers' needs, which include public sector undertakings (PSUs) and commercial and industrial clients.