Himalayan Solar IPO
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.
IPO GMP
₹0
+0% expected gain
Price Band
₹98 - ₹103
Lot Size
2400 shares
Min Investment
₹2,47,200
Listing Date
October 5, 2026
About Himalayan Solar
Company overview, business, and key facts.
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.
Founded
2015
Headquarters
Panchkula, Haryana
Promoters
Manjeet Singh, Karthiyani M, Himanshu Dalal, Mehtab Singh, Anita Kumari
Website
http://www.himalayansolar.co.in/
IPO Details
Subscription Status
How many times each investor category has bid for the issue.
Financials
Restated summary financials for the most recent periods.
Figures are indicative and restated for presentation.
Himalayan Solar IPO Key Numbers
Calculated by IPOLyst from the published offer-document data. These are figures, not buy or sell calls.
Market cap at upper band
₹227.7 Cr
Post-IPO shares × upper price band
P/E on 2026 profit
11x
Peer median 8.3x (premium of 32.5%)
Price to sales
1.33x
Revenue growth, 2026
+19.9%
11.3% a year over the period
Profit growth, 2026
+25.8%
104.6% a year over the period
Profit margin (PAT)
12%
EBITDA margin 17.05%
ROE / ROCE
44.04% / 35.84%
As published in the offer document
Debt to equity
0.77
Promoter holding
99.99% → 70.13%
Before → after the IPO
Issue mix
89.2% fresh / 10.8% sale
Fresh issue goes to the company, offer for sale to selling shareholders
GMP-implied gain per lot
₹0
2400 shares on ₹2,47,200. GMP is unofficial.
What stands out
- Profit grew 25.8% in 2026.
Watch-outs
- Priced at a 32.5% premium to the peer median P/E of 8.3.
- 1 use-of-proceeds item(s) have no disclosed amount.
Scenarios apply today's grey market premium figures to the upper price band. They are illustrations, not predictions. GMP is unofficial and can be wrong.
Not yet available for this IPO: published risk factors.
IPO Analysis SummaryAI-generated
A plain-language review of Himalayan Solar's financials, valuation and demand, based only on the verified figures above. For information only. It does not recommend whether to apply.
Himalayan Solar IPO Review
Analysis based on live GMP, subscription, and issue details.
Himalayan Solar IPO is currently showing a neutral GMP of ₹0, suggesting the market is cautious about listing gains.
The IPO has been subscribed 1.18x overall — QIB: 1.66x, NII: 0.95x, Retail: 1.26x.
Himalayan Solar IPO subscription has closed. The shares are expected to list on October 5, 2026.
The minimum investment required is ₹2,47,200 for 2400 shares (1 lot). Retail investors can apply at cut-off price for the best chance of allotment.
Disclaimer: IPO GMP is indicative and sourced from the grey market. This is not investment advice. Please consult a SEBI-registered advisor before investing.
Himalayan Solar IPO — Frequently Asked Questions
What is Himalayan Solar IPO GMP today?
Himalayan Solar IPO GMP (grey market premium) today is ₹0, suggesting an estimated listing gain of +0%. GMP is indicative and subject to change.
What is the price band of Himalayan Solar IPO?
The price band for Himalayan Solar IPO is ₹98 - ₹103 with a lot size of 2400 shares. The minimum investment required is ₹2,47,200.
When is Himalayan Solar IPO allotment date?
Himalayan Solar IPO allotment is expected to be finalised on September 30, 2026. You can check your allotment status on the registrar's website (Maashitla Securities Pvt.Ltd.) using your PAN number.
When will Himalayan Solar IPO list on NSE/BSE?
Himalayan Solar IPO is expected to list on NSE SME on October 5, 2026.
How to check Himalayan Solar IPO allotment status?
To check Himalayan Solar IPO allotment status, visit the registrar's website (Maashitla Securities Pvt.Ltd.) and enter your PAN number, application number, or DP/Client ID. You can also check on the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Should I apply for Himalayan Solar IPO?
Himalayan Solar IPO has a GMP of ₹0. Before applying, review the company's financials, business model, issue structure (OFS vs fresh issue), and sector outlook. IPOLyst is not a SEBI-registered investment advisor — please consult a qualified financial advisor before investing.
What is the lot size of Himalayan Solar IPO?
The lot size for Himalayan Solar IPO is 2400 shares per lot. The minimum investment for retail investors is ₹2,47,200. Retail investors can apply for a maximum of 13 lots or up to ₹2 lakh, whichever is lower.