Solarworld Energy Solutions shares zoom 16% as firm signs ₹803 crore deal; all you need to know

Solarworld Energy Solutions shares zoomed over 16% to an intraday high of ₹347.70 apiece on Wednesday, October 29, as the firm signed a major contract.

The newly listed firm “has signed a binding term sheet for the execution of Engineering, Procurement and Construction (EPC) works of the Ground Mount Solar Power Project of 200 MWac/272MWp,” it said in a regulatory filing.

The ₹802.84 crore order was awarded by a renewable energy company, though Solarworld Energy has not disclosed the name of the client.

The project is scheduled to be completed in the financial year 2026-27, as per the terms of the order.

Following this, shares of Solarworld Energy gained the spotlight. At 1:22 PM, the stock was trading at ₹343.55 apiece, soaring 14.69%. It is still trading below the listing price of ₹388.50 on the National Stock Exchange (NSE).

The company was listed on the exchanges on September 30, 2025.

IPO details

The ₹490 crore public offer was a fresh issuance of ₹440 crore and an offer for sale (OFS) of ₹50 crore by promoter Pioneer Factor 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 526,095,906 shares as against 8,093,092 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.