Solarworld's IPO Shines Bright with Over-Subscription on Day One
The IPO of Solarworld Energy Solutions Ltd was oversubscribed 1.23 times on its first day. Raising Rs 220.5 crore from anchor investors, the IPO amounted to Rs 490 crore. It includes a fresh equity issuance and an offer-for-sale. Funds will assist in developing a manufacturing facility.
- Country:
- India
The initial public offering (IPO) of Solarworld Energy Solutions Ltd received an overwhelming response on its first day, being subscribed 1.23 times.
The IPO, which amounts to Rs 490 crore, has already garnered Rs 220.5 crore from anchor investors.
The funds raised will be used to finance a new manufacturing facility in Madhya Pradesh, reflecting the company's growth ambitions.
(With inputs from agencies.)
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