HS

Himalayan Solar IPO

GMP, Subscription, Price, Allotment, Listing Date & AI Prediction

Open

NSE SME

PRICE BAND

Rs 98 - 103

LOT SIZE

2,400

Shares

MIN INVEST

Rs 2.5L

CUT-OFF

Rs 103

per share

Open

25 Sept 2026

Last Day

29 Sept 2026

Allotment

30 Sept 2026

Expected Refund

01 Oct 2026

Listing

05 Oct 2026

GMP Today

7m ago

0%

Rs 0 premium

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GMP Graph

Est. Listing Price

GMP Based

Rs 103

Issue Price + GMP (Dynamic)

Est. Profit (1 Lot)

GMP Based

+Rs 0

+0.0% (2400 shares)

Subscription

0.51x

Day 1 - Live

Sub. Page
IPOGyani AI Engine - Live Prediction
0.0%

Range: 0.0% to 4.0%

Confidence: Moderate - 50%

Confidence Score - 50%

📈 GMP Trend⚓ Anchor Quality🧠 Sentiment 50/100📊 Sub 0.51x🏭 Solar Energy / Renewable Energy
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Current IPO Status: open

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About Himalayan Solar

Solar Energy / Renewable Energy

The company was established in 2015 and has implemented more than 85,000 HP of Solar Water Pumping Systems under government projects in India as of 2026. It operates in the renewable energy sector and has experience across solar pumping and related solar applications.

IPO_DETAILS_LONG: Himalayan Solar IPO is an NSE SME book-built issue of 66,04,800 equity shares at ₹98 to ₹103 per share. The IPO opens on September 25, 2026 and closes on September 29, 2026. Allotment is scheduled for September 30, refund and demat credit for October 1, and listing for October 5, 2026. The issue consists of a fresh issue and an OFS. The fresh issue proceeds are proposed to fund plant and machinery, debt repayment, working capital and general corporate purposes.

Issue Details

Total Issue Size

Rs 68.03 Cr

Issue Size for Retail

Rs 34.04 Cr

Fresh Issue vs OFS

Fresh Issue
Rs 60.68 Cr (89%)
OFS
Rs 7.35 Cr (11%)

Reservation Quota

QIB

20.01%

Retail

50.04%

NII

29.95%

Lead Manager

Finshore Management Services Limited

Registrar

Maashitla Securities Private Limited

Objects of the Issue (as per DRHP)

  • 1Capital expenditure towards purchase of additional plant and machinery for expansion and upgradation of existing manufacturing facility - ₹12.98 Cr
  • 2Repayment/pre-payment of certain outstanding borrowings - ₹2.12 Cr
  • 3Working capital requirements - ₹29.50 Cr
  • 4General Corporate Purposes - balance of net proceeds after the above specified objects and issue expenses

Key Performance Indicator (KPI)

KPIMar 31 2025Mar 31 2026
ROE62.11%56.00%
ROCE44.32%35.84%
Debt/Equity1.020.77
RoNW62.11%44.04%
PAT MarginNA12.13%
EBITDA Margin16.55%17.05%
Price to Book Value3.56
Check IPO Peer Comparison here.
Pre IPOPost IPO
EPS (Rs)12.749.35
P/E (x)8.0811.02
Promoter Holding100.00%70.13%
Market CapRs 227.73 Cr.

Manjeet Singh, Karthiyani M, Himanshu Dalal, Mehtab Singh, Anita Kumari

Himalayan Solar Financials

Company financial data by reporting period. Amounts in Rs crore; ratios and percentages as labelled. A dash means not available, not zero.
MetricFY24FY25FY26
Total IncomeRs 138.65 CrRs 143.14 CrRs 171.69 Cr
Net Profit (PAT)Rs 4.95 CrRs 16.43 CrRs 20.67 Cr
EBITDARs 7.83 CrRs 23.58 CrRs 29.04 Cr
BorrowingsRs 23.54 CrRs 26.95 CrRs 36.12 Cr
ROE47.86%62.11%56%
ROCE23.37%44.32%35.84%
Debt/Equity2.281.020.77
AssetsRs 84.14 CrRs 93.82 CrRs 158.22 Cr

Company Financials

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MARKET SENTIMENT SCORE

0
50
100
50
NA

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Frequently Asked Questions

What is the price band of Himalayan Solar IPO?

The price band is Rs 98-103 per share. One lot contains 2400 shares; its value at the upper price is Rs 2,47,200. Check the issue terms for the minimum application size applicable to your category.

What are the bidding dates for Himalayan Solar IPO?

The scheduled bidding period is 25 Sept 2026 to 29 Sept 2026.

When is Himalayan Solar IPO scheduled to list?

The scheduled listing date is 5 Oct 2026. The actual listing price is determined on the exchange, not by the grey market premium or an AI estimate.

Who is the registrar for Himalayan Solar IPO?

Maashitla Securities Private Limited is the registrar. See the allotment page for the available schedule and official checking link.

Who manages Himalayan Solar IPO?

Lead manager information recorded for this issue: Finshore Management Services Limited.

Disclaimer

IPOGyani is not SEBI registered and does not provide investment advice. All information is for educational purposes only.

AI predictions are probabilistic estimates based on historical data and market trends. Past performance is not indicative of future results.

GMP (Grey Market Premium) data is sourced from various unofficial channels and may not be accurate. Always verify from multiple sources.

Investors should do their own research (DYOR) and consult a SEBI registered advisor before investing.

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