Himalayan Solar Ltd

Himalayan Solar Limited was originally incorporated as a Private Limited Company in the name of 'Himalayan Solar Private Limited' on September 08, 2015 issued by Registrar of Companies- Haryana. Subsequently, company was converted into Public Limited Company and the name of our Company was changed to 'Himalayan Solar Limited' w.e.f. 22nd November, 2024. The Company started its business in 2015 and specialize in providing integrated turnkey solar energy solutions offering services including design, manufacturing, supply, installation, and commissioning of wide range of solar products, with a primary focus on Solar Water Pumping Systems. Additionally, it provide solar energy solutions for Solar Inverter Charge Systems and Solar Rooftop Power Systems. In the initial years, Company has supplied, installed and commissioned multiple Roof Top Solar Power Plants and Solar Lighting Systems and Solar Inverter Charger Systems in various schools, primary health centres and private house hold in Haryana. It also supplied Himalayan Make Solar PV Modules to Companies that were empaneled in Government Projects. The Company established a manufacturing facility in Barwala, Haryana, in 2017 focusing on the production and assembly of Polycrystalline Photovoltaic (PV) Modules with annual manufacturing capacity of 40 MW. The facility operated until August 2024. However, a revision in the guidelines by the Ministry of New and Renewable Energy (MNRE) altered the course of operations. According to MNRE Office Memorandum dated May 10, 2023, the minimum module efficiency criteria were revised for Solar PV Modules to be eligible for government tenders and hence preferring Monocrystalline (Mono-PERC) Solar PV Modules over Polycrystalline modules to meet the higher efficiency requirements. As the existing production lines for Polycrystalline Modules could not meet the newly prescribed efficiency benchmarks for future Government projects, the Company temporarily halted its manufacturing operations at the Panchkula facility starting from August 2024. Post the halt in manufacturing of Polycrystalline Solar PV Modules, Company started the process of upgrading the Production Machines to manufacture the latest technology of Mono PERC & TOPCon Bifacial Solar PV Modules. Company has filed a Draft Prospectus with SEBI and is planning the IPO of issuing 57,76,800 equity shares of face value of Rs 10, comprising a fresh issue of 51,78,000 equity shares and 5,98,800 equity shares through the offer for sale.