Bookbuilding IPO | ₹[.] Cr | Listing at NSE SME |
Himalayan Solar Ltd. has filed a Draft Red Herring Prospectus (DRHP) with the exchange on September 26, 2025 to raise funds through Initial Public Offer (IPO).
Himalayan Solar Ltd. IPO is a Book Build Issue of 0.58 crore equity shares consisting of a fresh issue of upto 0.52 crore equity shares and an offer for sale (OFS) of upto 0.06 crore equity shares.
The equity shares are proposed to be listed on the NSE SME. Finshore Management Services Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Himalayan Solar IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 57,76,800 shares (agg. up to ₹[.] Cr) |
| Reserved for Market Maker | 2,89,200 shares (agg. up to ₹[.] Cr) |
| Fresh Issue (Ex Market Maker) | 48,88,800 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 5,98,800 shares of ₹10 (agg. up to ₹[.] Cr) |
| Net Offered to Public | 54,87,600 shares (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 1,62,18,899 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Fri, Sep 26, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
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.
As on March 31, 2025, they have a qualitative experience in implementation of more than 61000 HP capacity of Solar Water Pumping Systems as part of Government Projects in India and this quantity will further increase to 100000 HP by end of FY 2025-26.
As on August 31, 2025, the Company have employed 64 employees.
Competitive Strengths:
Himalayan Solar Ltd.'s revenue increased by 3% and profit after tax (PAT) rose by 221% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 93.83 | 84.14 | 32.54 |
| Total Income | 143.14 | 138.65 | 47.62 |
| Profit After Tax | 15.85 | 4.94 | 0.58 |
| EBITDA | 23.58 | 7.83 | 2.26 |
| NET Worth | 25.87 | 10.33 | 5.39 |
| Reserves and Surplus | 22.27 | 6.72 | 1.78 |
| Total Borrowing | 26.95 | 23.54 | 18.99 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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. | 2.60 |
| 3 | To meet Working Capital Requirements | 24.59 |
| 4 | General Corporate Expenses |
| KPI | Mar 31, 2025 |
|---|---|
| ROCE | 61.28% |
| Debt/Equity | 1.04 |
| RoNW | 44.81% |
| PAT Margin | 11.13% |
| EBITDA Margin | 16.55% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% |
Lead Manager Reports
Himalayan Solar IPO is a SME IPO of 57,76,800 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Himalayan Solar IPO open and close dates are not available as of now.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Himalayan Solar IPO using UPI as a payment gateway. Zerodha customers can apply in Himalayan Solar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Himalayan Solar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Himalayan Solar IPO dates are not announced. Please check back again after some time.
Himalayan Solar IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Himalayan Solar IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Himalayan Solar IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Himalayan Solar IPO allotment status.
The Himalayan Solar IPO listing date is not yet announced. The tentative date of listing is .
