Solarworld Energy Solutions Limited, one of the leading solar energy solutions providers specializing in engineering, procurement, and construction (EPC) services for solar power projects — in terms of revenue from the EPC business for Fiscal 2024 according to CRISIL — has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company plans to raise funds through an offer of equity shares (face value ₹5 each) via an initial public offering (IPO) aggregating up to ₹6,000 million (₹600 crore).
The offer comprises a fresh issue of equity shares aggregating up to ₹5,500 million (₹550 crore) (the "Fresh Issue") and an offer for sale by selling shareholders aggregating up to ₹500 million (₹50 crore) (the "Offer for Sale").
The equity shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).
Nuvama Wealth Management Limited and SBI Capital Markets Limited are the Book Running Lead Managers (BRLMs) to the issue.
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