Himalayan Solar Limited
SMEHIMALAYAN • NSE
Issue details
Price band
₹98 - ₹103
Lot size
1,200 shares
Issue size
₹68.03 Cr
Min. investment
₹1,23,600
Registrar
Maashitla Securities
Grey market premium
₹0 · 0%
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IPO Timeline
Open
25 Sep
Close
29 Sep
Allotment
30 Sep
Listing
5 Oct
- Refunds & demat credit
- 1 Oct 2026
- Mandate end
- 14 Oct 2026
We calculate these dates from the allotment and close dates, so please treat them as indicative.
Application size
| Category | Minimum | Maximum |
|---|---|---|
| Retail | 1,200shares 1 lot · ₹1,23,600 | 1,200shares 1 lot · ₹1,23,600 |
| HNI | 2,400shares 2 lots · ₹2,47,200 | No limit funds permitting |
Based on the upper price band of ₹103 and a lot of 1,200 shares.
Issue structure
Face value
₹10 per share
Issue type
Bookbuilding IPO
Sale type
Fresh capital cum OFS
Fresh issue
₹57 Cr
55,59,600 shares
Offer for sale
₹7 Cr
7,14,000 shares
Shares pre-issue
1,62,18,899
Shares post-issue
2,21,09,699
Valuation & ratios
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | 12.74 | 9.35 |
| P/E | 8.08 | 11.02 |
| Market cap | ₹167.05 Cr. | ₹227.73 Cr |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 56% |
| ROCE | 35.84% |
| Debt/Equity | 0.77 |
| RoNW | 44.04% |
| PAT Margin | 12.13% |
| EBITDA Margin | 17.05% |
| NAV | 28.93 |
| Price to Book Value | 3.56 |
Financials
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total income | 171.69 | 143.14 | 138.65 |
| Profit after tax | 20.67 | 16.43 | 4.95 |
| EBITDA | 29.04 | 23.58 | 7.83 |
| Net worth | 46.93 | 26.46 | 10.33 |
| Assets | 158.22 | 93.82 | 84.14 |
| Reserves & surplus | 30.71 | 22.85 | 6.73 |
| Total borrowing | 36.12 | 26.95 | 23.54 |
Figures in ₹ crore, as reported by the company in its offer document.
Objects of the issue
- 1.Funding Capital Expenditure towards purchase of additional plant and machinery for expansion and upgradation of existing manufacturing facility.₹12.98 Cr
- 2.Repayment and / or pre-payment, in full or in part, of certain outstanding borrowings availed by the Company.₹2.12 Cr
- 3.To meet working capital requirements₹29.5 Cr
- 4.General Corporate Expenses—
What the company says it intends to do with the money raised.
Issue fundamentals compiled from the company's offer document via Chittorgarh, last read 22 Sep 2026. Always verify against the RHP before applying.