IPO profile
Himalayan Solar Limited
HIMALAYAN · NSE
- Price band
- ₹98
- Subscription
- Not available
Application & Issue Details
- Minimum Quantity
- 1200 shares
- Minimum Application
- ₹1,17,600
- Issue Size
- Rs. 68 Cr
- Face Value
- Not available
- Issue Price
- ₹98
Company Overview
Himalayan Solar provides integrated turnkey solar energy solutions, specializing in the design, manufacturing, supply, installation, and commissioning of solar products, with a primary focus on Solar Water Pumping Systems. The company also offers solar energy solutions for Solar Inverter Charge Systems and Solar Rooftop Power Systems. As an empanelled solar partner with several state government departments in India, it generates revenue primarily through orders and government project contracts, having executed over 85,000 HP capacity of Solar Water Pumping Systems. The company operates a manufacturing facility in Karnal, Haryana, covering an area of approximately 25,000 square feet, which produces Mono PERC Solar PV Modules. It serves government departments, contractors, and private customers across India through its dealer network. The company proposes to expand and upgrade its manufacturing capacity to 160 MW per annum using issue proceeds.
Important Dates
- Open Date
- 25 Sept 2026
- Close Date
- 29 Sept 2026
- Allotment Date
- Not available
- Listing Date
- 5 Oct 2026
Issue Timeline
- Issue open date
- Issue close date
- UPI mandate deadline
- Allotment finalization
- Refund initiation
- Share credit
- Listing date
- Mandate end date
- Lock-in end date for anchor investors (50%)
- Lock-in end date for anchor investors (remaining)
Subscription
Subscription data not available yet.
Actual Listing Performance
- Listing Date
- 5 Oct 2026
- Actual Listing Price
- ₹85
- Gain/Loss Per Share
- -₹13
- Gain/Loss Per Lot
- -₹15,600
- Listing Gain/Loss %
- -13.27%
- Measured Against
- ₹98
- Lot Size
- 1200 shares
Historical result from the reported listing price, compared with the issue price. Excludes brokerage, taxes and charges.
Company Strengths & Risks
Reported strengths
- Established empanelment as a solar partner with state government departments.
- Executed over 85,000 HP capacity of solar water pumping systems.
- Integrated turnkey capability spanning design, manufacturing, supply, and installation.
- In-house facility producing high-efficiency Mono PERC solar PV modules.
- Strong pending order book position providing clear revenue visibility.
Key risks
- Revenue heavily depends on a limited number of major government customers.
- Significant geographical revenue concentration in Haryana.
- Business relies on government schemes, incentives, and direct customer subsidies.
- Vulnerable to rapid technological shifts and changing module efficiency regulations.
- Past negative cash flows from operating activities.
Company strengths and risks are informational summaries. Review the offer document for complete disclosures.
Documents & Coverage
IPO data last updated 25 Oct 2026, 12:08 pm IST · GMP: ipoalerts · listing price: NSE/BSE
This page is for informational and educational purposes only. It is not investment advice and not a recommendation to buy, sell, or apply for this IPO. GMP and subscription figures are unofficial/may change. Please make your own independent decision.