Himalayan Solar IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Return Estimator (GMP*)
Financial Analysis
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 138.65 | 143.14 | 171.69 |
| Expense | 131.77 | 121.15 | 144.00 |
| Profit (PAT) | 4.94 | 16.43 | 20.67 |
| Total Assets | 84.14 | 93.82 | 158.22 |
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Ganesh Green Bharat Limited | 30.31 | 7.11 | 26.82 | 113.02 | 1,064.27 Cr |
| Solarium Green Energy Limited | 9.81 | 14.99 | 12.58 | 77.93 | 368.15 Cr |
| Australian Premium Solar (India) Limited | 28.70 | 8.34 | 35.24 | 81.44 | 707.96 Cr |
Promoters: Manjeet Singh, Karthiyani M, Himanshu Dalal, Mehtab Singh and Anita Kumari
Strengths & Risks
- Revenue grew 20% in the latest reported year.
- Solid profit margin — 12.0%.
- Strong return on equity — 44%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
Risk signals for Himalayan Solar will appear here as subscription, valuation and GMP data arrive. Always read the company-specific risk factors in the RHP before you apply.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Himalayan Solar Ltd., SCO-411 2nd Floor,, Sector 20,, Panchkula, Haryana, 134117
| Purpose | Amount (Cr) |
|---|---|
| Funding Capital Expenditure towards purchase of additional plant and machinery for expansion and upgradation of existing manufacturing facility. | 12.98 |
| Repayment and / or pre-payment, in full or in part, of certain outstanding borrowings availed by the Company. | 2.60 |
| To meet Working Capital Requirements | 24.59 |
| General Corporate Expenses | - |
Resources & Documents
Himalayan Solar has set a price band of Rs 98–Rs 103 per share for an issue size of Rs 68 crore. The SME issue is scheduled to open for subscription on September 25, 2026 — 3 days from now.
The issue is promoted by Manjeet Singh, Karthiyani M, Himanshu Dalal, Mehtab Singh and Anita Kumari with Finshore Management Services Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding Capital Expenditure towards purchase of additional plant and machinery for expansion and upgradation of existing… (Rs 13 crore) and Repayment and / or pre-payment, in full or in part, of certain outstanding borrowings availed by the Company. (Rs 3 crore).
On fundamentals, the company is posting revenue growth of 20.0%, a profit margin of 12.0%, return on equity of 44.0% in its most recent reported period. Listed peers in this segment include Ganesh Green Bharat Limited (P/E 7.11x) and Solarium Green Energy Limited (P/E 14.99x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.
Himalayan Solar IPO GMP — What It Means
No active grey market premium has been recorded for Himalayan Solar IPO yet. GMP is an unofficial, dealer-quoted indicator of expected listing-day demand — not a guaranteed listing price — and it can change quickly once bidding opens.
See the full Himalayan Solar GMP history and trend, or learn how grey market premium works and how reliable it is.
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