Himalayan Solar IPO
Issue details, the company's financials from its prospectus, subscription and listing performance, explained in plain English. Data from NSE and the Red Herring Prospectus.
About the issue
Himalayan Solar Limited was open for subscription from 25 Sep 2026 to 29 Sep 2026 on the SME platform of NSE (NSE Emerge), in the other electrical equipment industry as classified by NSE. The issue size is ₹60.68 cr. One lot of 1,200 shares costs ₹1,23,600 at the upper end of the price band.
What the numbers show
- Revenue from operations grew from ₹138.3 cr in FY24 to ₹170.3 cr in FY26, about 11% a year.
- Profit after tax rose from ₹4.95 cr to ₹20.67 cr, and the profit margin improved from 3.6% to 12.1%.
- Total borrowings rose from ₹23.54 cr to ₹36.12 cr, a debt-to-equity ratio of 0.77 at the end of FY26.
- The whole issue is a fresh issue of ₹60.68 cr: all the money goes to the company.
- The issue was subscribed 1.18× overall.
- It listed on 5 Oct 2026 at ₹85, 17.5% below the issue price of ₹103, and closed its first day at ₹84.85.
These points are calculated from the prospectus and NSE data. They describe the company; they are not a recommendation to apply or not.
Financial performance
| ₹ crore unless stated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 138.3 | 142.4 | 170.3 |
| Total income | 138.6 | 143.1 | 171.7 |
| Profit after tax | 4.95 | 16.43 | 20.67 |
| Profit margin | 3.6% | 11.5% | 12.1% |
| Net worth | 10.33 | 26.46 | 46.93 |
| Total borrowings | 23.54 | 26.95 | 36.12 |
| Debt to equity | 2.28 | 1.02 | 0.77 |
Subscription
The issue was subscribed 1.18× overall. NSE publishes the bids and applications by category for SME issues:
| Investor category | Shares bid for | Applications |
|---|---|---|
| Qualified Institutional Buyers(QIBs) | 8,36,400 | 5 |
| Non Institutional Investors | 21,03,600 | 62 |
| Individual Investors (IND category bidding for 2 Lots) | 39,64,800 | 1,652 |
| Total | 69,04,800 | 1,719 |
Listing and performance
| Price | Change from issue price | |
|---|---|---|
| Issue price | ₹103 | – |
| Listing day open (5 Oct 2026) | ₹85 | −17.5% |
| Listing day high / low | ₹86 / ₹81 | – |
| Listing day close | ₹84.85 | −17.6% |
| Latest close (8 Oct 2026) | ₹76.80 | −25.4% |
| NIFTY 50 since listing day | −1.4% |
Frequently asked questions
What is the price band of the Himalayan Solar IPO?
The price band is ₹98–103 per share, for shares with a face value of ₹10. The final issue price was ₹103.
What is the lot size and minimum investment?
Bids are made in lots of 1,200 shares, so one lot costs ₹1,23,600 at the upper end of the price band. SME issues usually require individual investors to apply for at least two lots.
When does the Himalayan Solar IPO open and close?
Bidding opened on 25 Sep 2026 and closed on 29 Sep 2026. The shares listed on NSE on 5 Oct 2026.
How many times was the Himalayan Solar IPO subscribed?
It was subscribed 1.18× overall, according to NSE bid data.
Where can I check the allotment status?
The registrar to the issue is Maashitla Securities Private Limited. Allotment status can be checked on the registrar's website with your PAN or application number, and on the NSE and BSE websites, usually a day or two after the issue closes.
What was the listing gain of the Himalayan Solar IPO?
It opened at ₹85 on 5 Oct 2026, 17.5% below the issue price of ₹103.
Is this a recommendation to apply?
No. This page summarises public information so you can read the prospectus with the key numbers in mind. Whether to apply depends on your own goals and risk tolerance; consider speaking to a SEBI-registered investment adviser.
Data: NSE (issue details, bids, prices) and the company's Red Herring Prospectus filed with SEBI. Figures are reproduced and converted with care but may contain errors; check the prospectus before making any decision. This page is for information and education only. It is not a recommendation to apply for, buy or sell any security. See our disclaimer.