Himalayan Solar Limited
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Market participants are tracking the upcoming IPO of Himalayan Solar Limited's, which seeks to mobilize 66,04,800 Shares from public investors. The offering includes 55,59,600 Shares in primary capital and ₹7.00 Cr in secondary share sales, creating a balanced offering structure.
The pricing parameters have been established at ₹98 to ₹103, with the minimum application size requiring 1200 shares. This valuation approach considers market conditions, company fundamentals, and investor expectations.
Investment applications will be accepted from Sep 25, 2026 through Sep 29, 2026. The allotment date is fixed for Sep 30, 2026, followed by the commencement of trading activities on Oct 05, 2026 at the NSE trading platform.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Himalayan Solar Limited, incorporated in 2015, provides integrated turnkey solar energy solutions covering the design, manufacturing, supply, installation and commissioning of various solar products, with a primary focus on Solar Water Pumping Systems. The Company also offers solar solutions for Solar Inverter Charge Systems and Solar Rooftop Power Systems. As of March 31, 2025, Himalayan Solar had experience in implementing more than 61,000 HP of Solar Water Pumping Systems under government projects across India, with this capacity expected to increase to around 1,00,000 HP by the end of FY 2025-26. As of August 31, 2025, the Company had 64 employees.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
The expected premium (GMP) is based on market buzz and unofficial trading. It should not be considered as the guaranteed listing price. Always refer to the RHP and seek advice from a financial expert before making investment decisions.
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- Integrated Solar Solutions: Himalayan Solar Limited provides end-to-end solar solutions covering design, manufacturing, supply, installation, and commissioning, with a primary focus on solar water pumping systems.
- Government Project Experience: The company has experience executing solar water pumping projects for government bodies across multiple states, with more than 61,000 HP of implemented capacity as of March 2025.
- Diversified Solar Portfolio: Along with solar water pumping systems, the company offers solar rooftop systems, inverter charger systems, and other solar products, providing multiple avenues for business growth.
- Government Project Dependence: A significant part of the company's business is linked to government-focused renewable-energy projects, making revenue potentially sensitive to government policies, tenders, approvals, and project timelines.
- Raw Material & Manufacturing Costs: Fluctuations in the prices and availability of solar modules, electrical components, metals, and other inputs may increase costs and put pressure on margins.
- Competition in Solar Industry: The renewable-energy market is highly competitive, and competition from established solar manufacturers and EPC companies may create pricing pressure and affect market share.
- Manjeet Singh
- Karthiyani M
- Himanshu Dalal
- Mehtab Singh
- Anita Kumari
Himalayan Solar Limited
Maashitla Securities Private Limited