Himalayan Solar IPO
Open nowSMECapital Goods - Electrical Equipment
0.72×
Subscribed
Price band
₹98 – ₹103
Lot size
1,200
1 lot = ₹1,23,600
Issue size
₹68.03 Cr
Open – close
25 Sept 2026
to 29 Sept 2026
Listing
05 Oct 2026
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
We can't judge this issue yet. A verdict needs at least three independent dimensions — valuation, growth, profitability, balance sheet, issue structure, governance or demand — and this issue does not yet publish enough of them for a read that would mean anything. No offer document for this issue has been published yet. A confident score from two fields would be worse than this notice.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens25 Sept 2026
- Closes29 Sept 2026
- Allotment30 Sept 2026
- Listing05 Oct 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.58x
Non-institutionalNII / HNI0.37x
Retail individualRII0.73x
Chance of allotment
Retail0.73× subscribed
Full allotment
Minimum 2 lots · 2,400 shares · ₹2,47,200 blocked
The retail portion is under-subscribed at 0.73×, so every valid application should receive a full allotment.
HNI / NII0.37× subscribed
Full allotment
Minimum 1 lot · 1,200 shares · ₹1,23,600 blocked
The HNI portion is under-subscribed at 0.37×, so applications should be allotted in full.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹98 – ₹103
Face value₹10
Lot size1,200shares
Minimum application₹1,23,600at cut-off
Total issue size₹68.03 Cr
Listing atSME platform
Company & valuation
ISININE1B7I01014
RegistrarMSPL
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+11.5%
Listed up
6 of 8
Best
+90.0%
Millworks Technologies
Worst
-0.7%
Mopshop Distribution
Shanti Inorganicssame segment
142.2× sub+90.0%
Dhanwel Hybrid Seedssame segment
1.6× sub+0.0%
Mopshop Distributionsame segment
1.6× sub-0.7%
Anawil Wire and Engineeringsame segment
149.1× sub+22.1%
Fusion Klassroom Edutechsame segment
1.5× sub+6.9%
Dhaval Packagingsame segment
50.0× sub+13.4%
Sotefin Bharatsame segment
4.0× sub+9.6%
Millworks Technologiessame segment
219.5× sub+90.0%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Himalayan Solar
Himalayan Solar Limited provides integrated turnkey solar energy solutions, including the design, manufacturing, supply, installation, and commissioning of solar products. Its primary business is solar water pumping systems, along with solar rooftop power systems and solar inverter charger systems. The company also supplies solar products and provides support services under skill development training programmes. Its solar water pumping systems include solar PV modules, pumps, controllers, inverters, mounting structures and other components. The company offers AC and DC solar water pumps in surface and submersible categories. Himalayan Solar operates a manufacturing facility in Karnal, Haryana, with an annual capacity of 60 MW for Mono-PERC solar PV modules. The company also operates through its registered office, a branch office, and warehouses across Haryana, Rajasthan, and Madhya Pradesh.
Founded 2015MD Mr Manjeet SinghSector Capital Goods - Electrical Equipment
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Himalayan Solar IPO subscribed?
Himalayan Solar is subscribed 0.72× overall (QIB 1.58×, NII 0.37×, retail 0.73×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, MSPL.
What is the minimum investment in the Himalayan Solar IPO?
One lot is 1,200 shares, so a retail application at the ₹103 cut-off price blocks ₹1,23,600. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
When is the Himalayan Solar IPO allotment date?
Allotment is scheduled for 2026-09-30, with listing on 2026-10-05. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, MSPL.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.