Himalayan Solar IPO
ClosedNSE SMEListing at: NSE SME • SCO-411 2nd Floor,Sector 20,Panchkula, Haryana, 134117
Disclaimer: GMP values change dynamically. This data is strictly for educational purposes only and not an investment advice.
Himalayan Solar IPO GMP History
Genuine daily snapshots retained by the WeeStox backendDisclaimer: GMP values change dynamically. This data is strictly for educational purposes only and not an investment advice.
| GMP date | IPO price | GMP | Premium | Est. profit / lot | Subscription | Movement |
|---|---|---|---|---|---|---|
| 29 Sept 2026 | ₹103 | ₹0 | 0.00% | +₹0 | 1.19x | Flat |
| 28 Sept 2026 | ₹103 | ₹0 | 0.00% | +₹0 | 0.71x | Flat |
| 27 Sept 2026 | ₹103 | ₹0 | 0.00% | +₹0 | 0.51x | Flat |
| 26 Sept 2026 | ₹103 | ₹0 | 0.00% | +₹0 | 0.51x | Flat |
| 25 Sept 2026 | ₹103 | ₹0 | 0.00% | +₹0 | 0.51x | Flat |
| 24 Sept 2026 | ₹103 | ₹0 | 0.00% | +₹0 | - | Flat |
| 23 Sept 2026 | ₹103 | ₹0 | 0.00% | +₹0 | - | Flat |
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Himalayan Solar IPO Details
| IPO Date | 25 Sept 2026 to 29 Sept 2026 |
| Listing At | NSE SME |
| Face Value | ₹10 per share |
| Price Band | ₹103 |
| Lot Size | 1200 Shares |
| Total Issue Size | ₹68.03 Cr(₹1,255.57 Cr) |
| Fresh Issue | 58.91L shares (₹60.68 Cr) |
| Offer for Sale (OFS) | ₹7.35 Cr (approx 2.74 Cr shares) |
| Issue Type | SME Issue |
Himalayan Solar IPO Timetable
| IPO Open Date | 25 Sept 2026 |
| IPO Close Date | 29 Sept 2026 |
| Basis of Allotment | 30 Sept 2026 |
| Initiation of Refunds | 01 Oct 2026 |
| Credit of Shares to Demat | 01 Oct 2026 |
| Listing Date | 05 Oct 2026 |
| Cut-off time for UPI Mandate | 5 PM on 29 Sept 2026 |
| Employee Discount | ₹20.00/share (Up to 52,083 shares) |
Himalayan Solar IPO Reservation
| Category | Reservation | Shares Offered |
|---|---|---|
| QIB Shares Offered | 20.01% | 12,55,200 |
| − Anchor Investor Shares Offered | – | 7,52,400 |
| − QIB (Ex. Anchor) Shares Offered | – | 5,02,800 |
| NII (HNI) Shares Offered | 29.95% | 18,79,200 |
| − bNII > ₹10L Shares Offered | – | 12,52,800 |
| − sNII < ₹10L Shares Offered | – | 6,26,400 |
| Retail Shares Offered | 50.04% | 31,39,200 |
| Market Maker Shares Offered | – | 3,31,200 |
Himalayan Solar Anchor Details
| Anchor Bid Date | 24 Sept 2026 |
| Anchor Shares Offered | 7,52,400 Shares |
| Total Anchor Portion | ₹7.75 Cr |
| Lock-in 50% End Date | 30 Oct 2026 (30 Days) |
| Lock-in Rem. 50% Date | 29 Dec 2026 (90 Days) |
Himalayan Solar IPO Lot Size
| Application | Lots | Shares | Amount (Cut-off) | Reserved Applications |
|---|---|---|---|---|
| Individual investors (IND) (Min) | 2 Lots | Shares | ₹2,47,200 | – |
| Individual investors (IND) (Max) | 2 Lots | Shares | ₹2,47,200 | – |
| S-HNI (Min) | 3 Lots | Shares | ₹3,70,800 | – |
| S-HNI (Max) | 8 Lots | Shares | ₹9,88,800 | – |
| B-HNI (Min) | 9 Lots | Shares | ₹11,12,400 | – |
Himalayan Solar Promoter Holding
| Pre-Issue Holding | Disclosed in RHP |
| Post-Issue Holding | To be calculated |
Himalayan Solar IPO Live Subscription Status
Bidding demand breakdown by shares, institutional demand in ₹ Cr, applications & HNI funding cost| Investor Category | Shares Offered | Shares Bidded | Subscription Times |
|---|---|---|---|
| QIB | 5,02,800 | 7,92,000 | 1.58x |
| HNIs | 18,79,200 | 4,88,400 | 0.26x |
| bHNI | 12,52,800 | 4,54,800 | 0.36x |
| sHNI | 6,26,400 | 33,600 | 0.05x |
| Individual | 31,39,200 | 26,52,000 | 0.84x |
| Total | 55,21,200 | 39,32,400 | 0.71x |
Himalayan Solar Limited Financial Information (Restated Consolidated in ₹ Crores)
| Period Ended | Assets | Total Income | Profit After Tax | EBITDA | Net Worth | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 2026 | ₹158.22 Cr | ₹171.69 Cr | ₹20.67 Cr | ₹29.04 Cr | ₹46.93 Cr | ₹36.12 Cr |
| 30 Mar 2026 | ₹158.22 Cr | ₹171.69 Cr | ₹20.67 Cr | ₹29.04 Cr | ₹46.93 Cr | ₹36.12 Cr |
| 31 Mar 2025 | ₹93.82 Cr | ₹143.14 Cr | ₹16.43 Cr | ₹23.58 Cr | ₹26.46 Cr | ₹26.95 Cr |
| 30 Mar 2025 | ₹93.82 Cr | ₹143.14 Cr | ₹16.43 Cr | ₹23.58 Cr | ₹26.46 Cr | ₹26.95 Cr |
| 31 Mar 2024 | ₹84.14 Cr | ₹138.65 Cr | ₹4.95 Cr | ₹7.83 Cr | ₹10.33 Cr | ₹23.54 Cr |
| 30 Mar 2024 | ₹84.14 Cr | ₹138.65 Cr | ₹4.95 Cr | ₹7.83 Cr | ₹10.33 Cr | ₹23.54 Cr |
Himalayan Solar Key Valuation & Financial KPIs
Himalayan Solar IPO Analysis
Review the company's key advantages and material business risks.
Strengths & Positives
Competitive advantages and operational merits
Himalayan Solar Limited was originally incorporated as Himalayan Solar Private Limited on September 08, 2015, under the Companies Act, 2013. The Company was subsequently converted into a public limited company and renamed Himalayan Solar Limited on November 22, 2024.
The Company focuses on making solar power accessible, affordable and reliable through advanced technology, expert craftsmanship and a customer-focused approach. Its solutions are aimed at enabling seamless installations, long-term savings and reduced carbon footprint.
The Company has developed a portfolio of solar energy projects, ranging from residential installations to large-scale commercial projects, showcasing its focus on delivering solar solutions and supporting sustainability.
Experienced Solar PV Module Manufacturer: Has 6+ years of solar manufacturing experience and previously operated a 40 MW Solar PV panel production line, supporting its transition to Mono-PERC and TopCon Bifacial panels.
Experienced Promoters & Management Team: Promoter Mr. Manjeet Singh has around 10 years of experience in electrical and solar products, supported by Whole Time Director Mr. Mehtab Singh and an experienced senior management team.
Strong Government Renewable Energy Presence: Has experience executing government-backed solar projects across Haryana, Rajasthan, Punjab and Maharashtra, particularly Solar Water Pump Projects, supporting strong public-sector relationships and project inflows.
Low Capacity Utilization: Low capacity utilization may continue in the near term, while planned capacity expansion could result in underutilization, higher fixed costs, lower operational efficiency and reduced profitability and return on investment.
Regulatory & Policy Changes: Changes in MNRE or other government regulations, industry standards and technical requirements for solar PV modules and related components may adversely affect operations, product offerings and financial performance.
About Himalayan Solar Limited
Himalayan Solar IPO is a book build issue of ₹68.03 crores. The issue is a combination of fresh issue of 58.91 lakh shares aggregating to ₹60.68 crores and offer for sale of 7.14 lakh shares aggregating to ₹7.35 crores.Himalayan Solar IPO bidding opened for subscription on Sep 25, 2026 and will close on Sep 29, 2026. The allotment for the Himalayan Solar IPO is expected to be finalized on Sep 30, 2026. Himalayan Solar IPO will list on the NSE SME with a tentative listing date fixed as Oct 5, 2026.Himalayan Solar IPO is set issue price band at ₹98 to ₹103 per share. The lot size for an application is 1,200 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,47,200 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹3,70,800.Finshore Management Services Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Anant SecuritiesRefer to Himalayan Solar IPO RHP for detailed Information.
Shariah Compliance Screening (AAOIFI Standard 21)
Himalayan Solar IPO Documents & Reports
Official prospectus, reports and regulatory filings| Document Title | Authority / Host | Status | Action |
|---|---|---|---|
Red Herring Prospectus (RHP) Complete offer document filed with ROC & SEBI | SEBI / ROC | Available | View RHP |
Draft Red Herring Prospectus (DRHP) Initial regulatory draft submitted for public comments | SEBI Filings | Filed | View DRHP |
Anchor Investor Allocation Report Allotment list to institutional bidders | BSE / NSE Circular | Disclosed | Anchor PDF |
IPO Allotment Status & Basis of Allotment Registrar query portal via PAN / Application No. | Maashitla Securities Pvt.Ltd. | Live Portal | Check Allotment |
Corporate Website & Investor Relations Official portal and financial reports | Issuer Portal | Active | Visit Portal |
Himalayan Solar IPO Registrar & Lead Managers
- Finshore Management Services Ltd.
SCO-411 2nd Floor,Sector 20,Panchkula, Haryana, 134117