Himalayan Solar IPO Details
Himalayan Solar IPO Summary
Himalayan Solar IPO opens for subscription on 25 Sep 2026 and closes on 29 Sep 2026.The IPO will be listed on NSE with the tentative listing date set for 05 Oct 2026.
Himalayan Solar IPO price band has been fixed at ₹98 – ₹103 per share. The face value is ₹10 per share with a lot size of 1200.
Himalayan Solar IPO total issue size comprises 66,04,800 shares (aggregating up to ₹68.03 Cr). This includes a fresh issue of 58,90,800 shares (aggregating up to ₹60.68 Cr). Offer for Sale consists of 7,14,000 shares (aggregating up to ₹7.35 Cr). Pre-issue shareholding stands at 1,62,18,899, which will increase to 2,21,09,699 post-issue.
Himalayan Solar IPO carries a ₹0 (0%) GMP, reflecting investor sentiment.
Himalayan Solar IPO Lot Size :Individual Minimum is 2 lots (2,400 shares) amounting to ₹2,47,200. Individual Maximum is 2 lots (2,400 shares) amounting to ₹2,47,200. SHNI Minimum is 3 lots (3,600 shares) amounting to ₹3,70,800. SHNI Maximum is 8 lots (9,600 shares) amounting to ₹9,88,800. BHNI Minimum is 9 lots (10,800 shares) amounting to ₹11,12,400.
Himalayan Solar IPO Details
Himalayan Solar IPO Subscription
Himalayan Solar IPO Application Wise Breakup
Himalayan Solar IPO Dates
- 25 Sep 2026Opening dateOpen
- 29 Sep 2026Closing dateClose
- 30 Sep 2026Allotment Date Allotment
- 01 Oct 2026Initiation of RefundsRefund
- 01 Oct 2026Credit of SharesCredit
- 05 Oct 2026Listing dateListing
Himalayan Solar IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Minimum | 2 | 2400 | ₹2,47,200 |
| Individual Maximum | 2 | 2400 | ₹2,47,200 |
| SHNI Minimum | 3 | 3600 | ₹3,70,800 |
| SHNI Maximum | 8 | 9600 | ₹9,88,800 |
| BHNI Minimum | 9 | 10800 | ₹11,12,400 |
Himalayan Solar IPO Reservation
Promoter Holding
Documents
Himalayan Solar IPO Valuations
Himalayan Solar Financial Information
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 158.22 | 93.82 | 84.14 |
| Total Income | 171.69 | 143.14 | 138.65 |
| Profit After Tax | 20.67 | 16.43 | 4.95 |
| EBITDA | 29.04 | 23.58 | 7.83 |
| NET Worth | 46.93 | 26.46 | 10.33 |
| Reserves and Surplus | 30.71 | 22.85 | 6.73 |
| Total Borrowing | 36.12 | 26.95 | 23.54 |
| Amount in ₹ Crore | |||
About Himalayan Solar IPO
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 of July 31, 2026, it has an order book of Rs 14,021.69 lakhs.
Strength Of Himalayan Solar IPO
- Experienced promoters having deep knowledge to scale up the business.
- Established and proven track record.
- Established and proven track record.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our customers.
- Quality Assurance & Control.
Risk Of Himalayan Solar IPO
- The Company, Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
- The company's Restated Financial Statements are Prepared and Signed by the Peer Review Chartered Accountant who is not Statutory Auditors of the Company.
- The company has not taken any steps to order the machinery/equipment required for the Expansion and upgradation of the manufacturing facility. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment/machinery in a timely manner, or at all, the same may result in time and cost over-runs.
- The Company is dependent on a few customers for sales. Loss of any of these large customers may affect its revenues and profitability.
- The company highly depend on the company's major raw materials and a few key suppliers who help the company procure the same. The Company has not entered into long-term agreements with its suppliers for the supply of raw materials. In the event the company is unable to procure adequate amounts of raw materials, at competitive prices our business, results of operations and financial condition may be adversely affected.
- The majority of the company's state- wise revenues from operations for the last 3 years are dependent mainly on Haryana. Any adverse developments affecting our operations in these states could have an adverse impact on the company's revenue and results of operations.
- Potential Adverse Impact on Business Operations Due to Obsolescence of Existing Manufacturing Facility and Risks Associated with Relocation and Commissioning of New Manufacturing Unit with New Machinery.
- The company has certain contingent liabilities, which, if materialized, may affect its financial condition and results of operations.
- There has been an instance of non-compliance for failures to open a separate bank account for the receipt of share application money in compliance with Section 42 of the Companies Act, 2013. Due to such lapse, the Company may be held liable to penal actions by the regulatory authorities under the Companies Act which may have impact on the company's financial position.
- With the proceeds of the IPO, the Company intends to further expand and upgrade its facility to 160 MW by acquiring additional machinery with an installed capacity of 100 MW; the company cannot assure you that the proposed expansion of the manufacturing facility will become operational as scheduled or at all, or operate as efficiently as planned. If the company is unable to commission the company's new facility in a timely manner or without cost overruns, it may adversely affect its business, results of operations and financial condition.
Objectives Himalayan Solar IPO
1. Funding Capital Expenditure towards purchase of additional plant and machinery for expansion and upgradation of existing manufacturing facility.
2. Repayment and / or pre-payment, in full or in part, of certain outstanding borrowings availed by the Company.
3. To meet Working Capital Requirements
4. General Corporate Expenses
Company Contact Details
Himalayan Solar Ltd.
SCO-411 2nd Floor,
Sector 20,
Panchkula, Haryana, 134117
Phone: +91 7087117405
Email: cs@himalayansolar.co.in
Website: http://www.himalayansolar.co.in/
Registrar Contact Details
Himalayan Solar FAQs
The Himalayan Solar IPO is a SME public issue comprising 6604800 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹68.03 Cr. The issue price has been fixed at ₹103 per equity share, and the minimum application size is 1200 shares.
The IPO opens for subscription on 25 Sep 2026, and closes on 29 Sep 2026.
Maashitla Securities Pvt Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the NSE
As of now, the current GMP stands at ₹0 (0%).
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