Himalayan Solar Limited IPO
25 Sept 2026 – 29 Sept 2026
Share Price
- Candle
- 6 Oct
- O
- ₹81
- H
- ₹83.9
- L
- ₹80.65
- C
- ₹80.8
2 trading days since listing · NSE end-of-day prices
Issue Details
- Price Band
- ₹98 – ₹103
- Lot Size
- 1200 shares
- Min Investment
- ₹2,47,200 (2 lots · 2,400 shares)
- Face Value
- ₹10
- Fresh Issue
- 58,90,800 shares (to the company)
- Offer for Sale
- 3,31,200 shares (to selling holders)
- Listing At
- NSE · BSE
- Issue Size
- Initial Public Offer comprising of Fresh Issue up to 58,90,800 Equity Shares and Offer for Sale up to 7,14,000 (Including market maker portion of 3,31,200 Equity Shares and Anchor Allocation of 7,52,400 Equity Shares)
Timetable
GMP History
Latest GMP ₹0 · Last updated 7 Oct 2026, 11:51 am IST
| Date | GMP | GMP % | Change | Est. Listing | Updated (IST) |
|---|---|---|---|---|---|
| 2 Oct | ₹0 | 0.0% | — | ₹103 | |
| 1 Oct | ₹0 | 0.0% | — | ₹103 | |
| 30 Sept | ₹0 | 0.0% | — | ₹103 | |
| 29 Sept | ₹0 | 0.0% | — | ₹103 | |
| 28 Sept | ₹0 | 0.0% | — | ₹103 | |
| 27 Sept | ₹0 | 0.0% | — | ₹103 | |
| 26 Sept | ₹0 | 0.0% | — | ₹103 | |
| 25 Sept | ₹0 | 0.0% | — | ₹103 | |
| 24 Sept | ₹0 | 0.0% | — | ₹103 | |
| 23 Sept | ₹0 | 0.0% | — | ₹103 | |
| 22 Sept | ₹0 | 0.0% | — | ₹103 |
Subscription
NSE publishes what each category bid for on this issue but not how many shares were reserved for it, so the bids below stand without a multiple against them.
Category-wise bidding
| Category | Bid for | Applications | Times |
|---|---|---|---|
| QIB | 8,36,400 | 5 | — |
| NII / HNI | 21,03,600 | 62 | — |
| bNII · bids above ₹10L | 19,21,200 | 16 | — |
| sNII · bids ₹2L–₹10L | 1,82,400 | 46 | — |
| Retail | 39,64,800 | 1,652 | — |
Bids received on NSE, as at 29-Sep-2026 18:42:35 IST. The two NII rows are parts of the NII total above them, not additions to it.
Day-wise subscription
| Date | QIB | NII / HNI | Retail | Total |
|---|---|---|---|---|
| 29 Sept | — | — | — | 1.18x |
| 28 Sept | — | — | — | 0.72x |
| 27 Sept | — | — | — | 0.48x |
| 26 Sept | — | — | — | 0.48x |
| 25 Sept | — | — | — | 0.48x |
Financials
All values in ₹ crore
About Himalayan Solar
Incorporated in 2015, Himalayan Solar Limited is specializes in providing integrated turnkey solar energy solutions offering services including design, manufacturing, supply, installation, and commissioning of wide range of solar products, with a primary focus on Solar Water Pumping Systems. They provide solar energy solutions for Solar Inverter Charge Systems and Solar Rooftop Power Systems. As on March 31, 2025, they have a qualitative experience in implementation of more than 61000 HP capacity of Solar Water Pumping Systems as part of Government Projects in India and this quantity will further increase to 100000 HP by end of FY 2025-26. As on August 31, 2025, the Company have employed 64 employees. Competitive Strengths: Experienced Solar PV Module Manufacturer Experienced Promoters backed by a strong management team Strong Presence in Government-Focused Renewable Energy Projects Across Multiple States Strong relationship with customers and suppliers. Ability to implement our Solar Products portfolio is Government-backed Solar Projects as supplemental value addition along with their manufacturing business. Strong Order Book
As published in the company's own offer documents.
Strengths
- Experienced Solar PV Module Manufacturer
- Experienced Promoters backed by a strong management team
- Strong Presence in Government-Focused Renewable Energy Projects Across Multiple States
- Strong relationship with customers and suppliers.
- Ability to implement our Solar Products portfolio is Government-backed Solar Projects as supplemental value addition along with their manufacturing business.
- Strong Order Book
As stated by the company in its prospectus — not our assessment.
The company's own risk factors are not shown here. They run to dozens of pages in the Red Herring Prospectus, under “Risk Factors”, and are worth the read before applying.
Lead Managers
- Finshore Management Services Limited
Offer details
Application sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min)one lot, the smallest bid allowed | 1 | 1,200 | ₹1,23,600 |
| S-HNI (min)first bid over ₹2L | 2 | 2,400 | ₹2,47,200 |
| S-HNI (max)most that stays under ₹10L | 8 | 9,600 | ₹9,88,800 |
| B-HNI (min)first bid over ₹10L | 9 | 10,800 | ₹11,12,400 |
Priced at the top of the band, which is what a cut-off bid pays. Retail ends at ₹2,00,000 and S-HNI at ₹10,00,000; these are SEBI's limits, not the issuer's.
Issue mechanics
- Issue Type
- Book Building
- Categories
- FI, IC, MF, FII, OTH, CO, IND, NOH
- UPI Eligible
- IND (Up to Rs. 5,00,000)
- Max Bid (QIB)
- 55,21,200 Equity shares (Calculated at Higher Price band)
- Max Bid (NII)
- 50,18,400 Equity shares (Calculated at Higher Price band)
- Tick Size
- Re.1
- Bidding Hours
- 10.00 a.m. to 5.00 p.m. (Bidding Timings on Issue Closure upto 4:00 P.M.)
- UPI Mandate Cut-off
- 29-Sep-2026 (upto 5:00 PM) The cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability to p
- Sponsor Bank
- Kotak Mahindra Bank Limited
Registrar
- Name
- Maashitla Securities Private Limited
- Address
- 451, Krishna Apra Business Square Netaji Subhash Place, Pitampura, North West, New Delhi, Delhi, India, 110034.
- Contact
- Mr Mukul Agrawal ,011-47581432 , ipo@maashitla.com
Documents
- Red Herring ProspectusThe full offer documentPDF
- Basis of Issue PriceHow the band was arrived atPDF
- Anchor AllocationWho was allotted before the issue openedPDF
- Application FormThe blank ASBA form, as filedPDF
- Security ParametersTick size, lot and limits as filed with the exchangePDF
- Security Parameters (post-anchor)The same, restated after the anchor book closedPDF
Published by NSE as ZIP archives; opened here as the PDF inside.
Collected from NSE and public sources. Always confirm against the prospectus before applying.
In the news
Headlines from The Economic Times, matched to this company by name. Reproduced as published — not our reporting, and not investment advice. More IPO news
Frequently Asked Questions
What is the GMP of Himalayan Solar Limited IPO today?
The latest grey market premium for Himalayan Solar Limited IPO is ₹0. GMP is unofficial and indicative only — it is not a guarantee of listing price.
What is the price band of Himalayan Solar Limited IPO?
The price band is ₹98 – ₹103, with a lot size of 1200 shares. The minimum investment is ₹2,47,200.
When does Himalayan Solar Limited IPO open and close?
The issue opens on 25 Sept 2026 and closes on 29 Sept 2026. Listing is expected on 5 Oct 2026.
Who is the registrar for Himalayan Solar Limited IPO?
Maashitla Securities Private Limited is the registrar. Allotment status can be checked on the registrar's website once allotment is finalised.