Himalayan Solar IPO Details
IPO Overview
| Price Band | ₹98–₹103 |
|---|---|
| Lot Size | 1200 shares |
| Min Investment | Min ₹123600 |
| Total Subscription | 0 times |
| Status | Upcoming |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2400 | 247200 |
| Individual investors (IND) (Max) | 2 | 2400 | 247200 |
| S-HNI (Min) | 3 | 3600 | 370800 |
| S-HNI (Max) | 8 | 9600 | 988800 |
| B-HNI (Min) | 9 | 10800 | 1112400 |
IPO Tentative Timetable
| IPO Open Date | Sep 25, 2026 |
|---|---|
| IPO Close Date | Sep 29, 2026 |
| Allotment Date | Sep 30, 2026 |
| Refund Initiation | Oct 01, 2026 |
| Listing Date | Oct 05, 2026 |
IPO Detail
| Face Value | ₹10 per share |
|---|---|
| Price Band | ₹98 to ₹103 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 66,04,800 shares (agg. up to ₹68 Cr) |
| Reserved for Market Maker | 3,31,200 shares (agg. up to ₹3 Cr)Anant Securities |
| Fresh Issue (Ex Market Maker) | 55,59,600 shares (agg. up to ₹57 Cr) |
| Offer for Sale | 7,14,000 shares of ₹10 (agg. up to ₹7 Cr) |
| Net Offered to Public | 62,73,600 shares (agg. up to ₹65 Cr) |
| Share Holding Pre Issue | 1,62,18,899 shares |
| Share Holding Post Issue | 2,21,09,699 shares |
Key Performance Indicators (KPI)
| K P I | Mar 31, 2026 |
|---|---|
| ROE | 56% |
| ROCE | 35.84% |
| Debt/Equity | 0.77 |
| RoNW | 44.04% |
| PAT Margin | 12.13% |
| EBITDA Margin | 17.05% |
| NAV | 28.93 |
| Price to Book Value | 3.56 |
Issue Reservation
| Investor Category | Shares | % Of Net Issue | % Of Total Issue |
|---|---|---|---|
| QIB | 12,55,200 | 20.01% | 19.00% |
| − Anchor Investor | 7,52,400 | 11.39% | |
| − QIB (Ex. Anchor) | 5,02,800 | 7.61% | |
| NII (HNI) | 18,79,200 | 29.95% | 28.45% |
| − bNII > ₹10L | 12,52,800 | 18.97% | |
| − sNII < ₹10L | 6,26,400 | 9.48% | |
| Retail | 31,39,200 | 50.04% | 47.53% |
| Market Maker | 3,31,200 | 5.01% | |
| Total | 66,04,800 | 100.00% | 100.00% |
Company Financials (In Crore)
| Period Ended | Assets | Total Income | Profit After Tax | E B I T D A | N E T Worth | Reserves And Surplus | Total Borrowing |
|---|---|---|---|---|---|---|---|
| 31 Mar 2026 | 158.22 | 171.69 | 20.67 | 29.04 | 46.93 | 30.71 | 36.12 |
| 31 Mar 2025 | 93.82 | 143.14 | 16.43 | 23.58 | 26.46 | 22.85 | 26.95 |
| 31 Mar 2024 | 84.14 | 138.65 | 4.95 | 7.83 | 10.33 | 6.73 | 23.54 |
Objects of the Issue
| S. No. | Objects Of The Issue | Expected Amount (in Crores) |
|---|---|---|
| 1 | Funding Capital Expenditure towards purchase of additional plant and machinery for expansion and upgradation of existing manufacturing facility. | 12.98 |
| 2 | Repayment and / or pre-payment, in full or in part, of certain outstanding borrowings availed by the Company. | 2.12 |
| 3 | To meet working capital requirements | 29.50 |
| 4 | General Corporate Expenses | |
| Total | 44.60 |
About Company
Incorporated in 2015, Himalayan Solar Limited is specializes in providing integrated turnkey solar energy solutions offering services including design, manufacturing, supply, installation, and commissioning of wide range of solar products, with a primary focus on Solar Water Pumping Systems. They provide solar energy solutions for Solar Inverter Charge Systems and Solar Rooftop Power Systems.
Business Verticals:
- Turnkey Solar Energy Solutions for Solar Projects: The EPC Contract offers comprehensive turnkey solar energy solutions which includes design, manufacturing, supply, installation & commissioning services of wide range of solar products
- Design, manufacturing, supply, installation & commissioning of Solar Water Pumping System: The Solar water pumps and Solar Pump Controllers used in the system are manufactured through an Original Equipment Manufacturer (OEM) arrangement and are exclusively branded and marketed under the ‘Himalayan Solar’.
- Support Services under Skill development training programme: The company has signed an MoU with NSDC as the Industry exclusive Franchisee Partner for the Solar to support the development and onboarding of up to 2,00,000 Panchayat-level micro-entrepreneurs with its brand under “National Entrepreneurship Drive (NED)”.
- Sale of Solar Products: The company engaged in the supply of various solar products, including Solar PV (Photovoltaic) Modules, Solar cell, Solar Battery and other solar products.
As on March 31, 2026, the company has implemented more than 85000 HP capacity of Solar Water Pumping Systems as part of Government Projects in India. As of Mar 31, 2026, its Polycrystalline Solar PV Modules manufacturing capacity stood at 40 MW corresponding to 1,19,000 nos. of Polycrystalline Solar PV Module and Mono PERC solar PV Modules manufacturing capacity stood at 60 MW equivalent to approximately 1,07,500 nos. of 555W-560W Mono PERC Solar PV Modules annually.
As on July 31, 2026, the Company have employed 87 employees.
Competitive Strengths:
- Experienced Solar PV Module Manufacturer
- Experienced Promoters backed by a strong management team
- Strong Presence in Government-Focused Renewable Energy Projects Across Multiple States
- Strong relationship with customers and suppliers.
- Ability to implement our Solar Products portfolio is Government-backed Solar Projects as supplemental value addition along with their manufacturing business.
- Strong Order Book
Documents
Himalayan Solar IPO Details — Frequently Asked Questions
What is Himalayan Solar IPO?
What is the price band of Himalayan Solar IPO?
What is the lot size and minimum investment for Himalayan Solar IPO?
When will Himalayan Solar IPO open and close for subscription?
What is the issue size of Himalayan Solar IPO?
When is the Himalayan Solar IPO listing date?
Is Himalayan Solar a Mainline IPO or SME IPO?
How can I apply for Himalayan Solar IPO?
Disclaimer
No financial information published within this application, including but not limited to information regarding securities or IPOs, should be considered as advice to buy or sell securities or to invest in IPOs, or as a guide to doing so in any way whatsoever. All content published in this application is provided solely for educational and informational purposes, and under no circumstances should it be used for making investment decisions. We are not a SEBI registered analyst.
Readers must consult a qualified financial advisor before making any actual investment decisions based on information published in this application. The information in this application is based on information available as of the date of publication, along with market perceptions, and may be subject to change without notice.