Solarworld Energy Solutions Ltd Shines with 11% Premium Debut
Solarworld Energy Solutions Ltd's IPO debuted with an 11% premium over the issue price of Rs 351. The stocks opened at Rs 389 on BSE, marking a 10.82% rise. The IPO aimed to raise Rs 490 crore, which will partially fund a 1.2 GW solar facility in Madhya Pradesh.
- Country:
- India
Solarworld Energy Solutions Ltd made a striking debut on the stock market on Tuesday, achieving an 11% premium over its initial public offering (IPO) price of Rs 351.
The company's shares began trading at Rs 389 on the Bombay Stock Exchange (BSE), translating to a 10.82% increase from the issue price. It opened at Rs 388.50 on the National Stock Exchange, marking a 10.68% rise.
Solarworld raised Rs 490 crore through the IPO, with Rs 440 crore as fresh equity and Rs 50 crore as an offer-for-sale by promoters. Funds will be used for developing a solar PV manufacturing plant in Madhya Pradesh.
(With inputs from agencies.)
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