Himalayan Solar IPO Details
Himalayan Solar IPO Market Lot
The Himalayan Solar IPO minimum market lot is 2400 shares with ā¹2,47,200 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2400 | ā¹2,47,200 |
| Retail Maximum | 2 | 2400 | ā¹2,47,200 |
| S-HNI Minimum | 3 | 3600 | ā¹3,70,800 |
| S-HNI Maximum | 8 | 9600 | ā¹9,88,800 |
| B-HNI Minimum | 9 | 10800 | ā¹11,12,400 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 7,52,400 Shares | 11.39% |
| QIB (Ex. Anchor) | 5,02,800 Shares | 7.61% |
| NII Shares Offered | 18,79,200 Shares | 28.45% |
| Retail Shares Offered | 31,39,200 Shares | 47.53% |
Himalayan Solar IPO Anchor Investors
Himalayan Solar IPO Dates
The Himalayan Solar IPO date is September 25 and the close date is September 29. The Himalayan Solar IPO allotment will be finalized on September 30 and the IPO listing on October 5.
| IPO Open Date: | September 25, 2026 |
| IPO Close Date: | September 29, 2026 |
| Basis of Allotment: | September 30, 2026 |
| Refunds: | October 1, 2026 |
| Credit to Demat Account: | October 1, 2026 |
| IPO Listing Date: | October 5, 2026 |
Promoters and Holding Pattern
The promoters of the company are Manjeet Singh, Karthiyani M, Himanshu Dalal, Mehtab Singh and Anita Kumari.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
| Promoter and Promoter Group | 1,62,18,764 | 99.99% | 15,504,764 | 70.13% |
| Others* | 135 | 0.01% | 6,604,935 | 29.87% |
| Total | 1,62,18,899 | 100% | 22,109,699 | 100% |
Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
| Funding Capital Expenditure towards purchase of additional plant and machinery for expansion and upgradation of existing manufacturing facility. | ā¹12.98 |
| Repayment and / or pre-payment, in full or in part, of certain outstanding borrowings availed by the Company. | ā¹2.60 |
| To meet Working Capital Requirements | ā¹24.59 |
| General Corporate Expenses | ā¹- |
About Himalayan Solar
Established in 2015, Himalayan Solar Limited provides complete solar energy solutions. The company handles the design, manufacturing, supply, installation, and commissioning of various solar products, mainly focusing on Solar Water Pumping Systems. It also offers solutions such as Solar Inverter Charge Systems and Solar Rooftop Power Systems.
The company supplies a range of solar products, including solar PV modules, solar cells, solar batteries, and other solar equipment. Moreover, as of 2026, the firm has implemented more than 85000 HP of Solar Water Pumping Systems as part of Government Projects in India. Himalayan Solar’s main mission is to make solar power accessible, affordable, and reliable for everyone.
Company Financials
Amount ā¹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ā¹138.65 | ā¹131.77 | ā¹4.94 | ā¹84.14 |
| 2025 | ā¹143.14 | ā¹121.15 | ā¹16.43 | ā¹93.82 |
| 2026 | ā¹171.69 | ā¹144.00 | ā¹20.67 | ā¹158.22 |
Company Valuation – FY2026
Check Himalayan Solar IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 44.04% |
| ROCE: | 35.84% |
| EBITDA Margin: | 17.05% |
| PAT Margin: | 12.13% |
| Debt to equity ratio: | 0.77 |
| Earning Per Share (EPS): | ā¹12.74 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 44.04% |
| Net Asset Value (NAV): | ā¹28.93 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Ganesh Green Bharat Limited | 30.31 | 7.11 | 26.82% | 113.02 | 1,064.27 Cr. |
| Solarium Green Energy Limited | 9.81 | 14.99 | 12.58% | 77.93 | 368.15 Cr. |
| Australian Premium Solar (India) Limited | 28.70 | 8.34 | 35.24% | 81.44 | 707.96 Cr. |
IPO Lead Managers aka Merchant Bankers
- Finshore Management Services Ltd.
Company Address
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/
IPO Registrar
Maashitla Securities Pvt.Ltd.
Phone: 011-45121795
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
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Note: The Himalayan Solar IPO price band and date are officially announced. The (Himalayan Solar IPO grey market premium) will be added to the IPO GMP page as it will start).