Solarworld Energy Solutions Shines with Rs 220.5 Crore Anchor Investment

Solarworld Energy Solutions has attracted Rs 220.5 crore from anchor investors as it prepares for its Rs 490-crore IPO. The funds will be used for a new solar manufacturing facility and general corporate purposes. The public subscription opens on September 23 and concludes on September 25.

Solarworld Energy Solutions, a prominent solar energy solutions provider, has successfully raised Rs 220.5 crore from anchor investors before its upcoming initial public offering (IPO) for public subscription.

Anchor investors include Pinebridge Global Funds, Motilal Oswal Mutual Fund, and others, as reported in a circular on BSE's website. A total of 62.82 lakh equity shares have been allocated to 15 funds at a price of Rs 351 each.

The IPO will commence on September 23 and conclude on September 25, with a price band set between Rs 333 and Rs 351 per share. Funds from the IPO will partly finance the establishment of a 1.2 GW solar manufacturing facility in Madhya Pradesh, among other purposes.