What does Jupiter Solar Power Limited do?

Jupiter Solar Power Limited is an integrated solar energy company that manufactures solar photovoltaic modules and provides end-to-end solar power solutions including EPC (Engineering, Procurement, and Construction) services for solar installations. It serves both the commercial and industrial (C&I) and government project segments.

Where is Jupiter Solar Power Limited based?

Jupiter Solar Power Limited is registered and headquartered in Noida, Uttar Pradesh, with CIN U40100UP2008PLC035892 confirming Uttar Pradesh incorporation. Noida is part of the Delhi-NCR industrial belt with proximity to major commercial solar markets.

When was Jupiter Solar Power incorporated?

Jupiter Solar Power Limited was incorporated in 2008, making it one of the earlier dedicated solar energy companies in India, incorporated just as the country began developing its solar energy policy framework that would eventually become the National Solar Mission (2010).

Does Jupiter Solar Power manufacture solar panels?

Yes, the company manufactures solar modules (solar panels) and is positioned as an integrated solar solutions provider combining manufacturing with EPC project execution capabilities.

What is the investment case for Jupiter Solar Power?

The key investment thesis is India's aggressive solar capacity expansion targets. As a domestic manufacturer and EPC provider, Jupiter Solar Power is positioned to benefit from the massive government-driven solar deployment. However, the company's small scale and unlisted status mean investors must independently assess its financial health and competitive positioning.

How do I buy Jupiter Solar Power Limited unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Jupiter Solar Power Limited?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Jupiter Solar Power Limited shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Jupiter Solar Power Limited Unlisted Share Price | Buy Jupiter Solar Power Limited Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Jupiter Solar Power Limited Unlisted Share Price | Buy Jupiter Solar Power Limited Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Jupiter Solar Power Limited is a thematically well-positioned solar energy company operating in India's highest-priority renewable energy sector. Its integrated manufacturing and EPC model, 15+ years of operational history, and Noida-based operations provide strategic advantages. While the sector tailwind is undeniable, the company's small unlisted status means investors must carefully assess its financial capacity to participate meaningfully in India's solar boom.

Pros

Positioned in India's fastest-growing energy sector — solar power — with the country targeting 500 GW renewable capacity by 2030
Integrated solar solutions model combining module manufacturing with EPC services provides end-to-end value capture
Incorporated in 2008 as an early entrant in India's solar sector, providing over 15 years of domain experience
Uttar Pradesh, India's most populous state, represents a massive addressable market for solar installations under state and central government programs
India's Production Linked Incentive (PLI) scheme for solar PV modules provides significant policy support for domestic manufacturers
Strong government push through PM KUSUM, Rooftop Solar Phase II, and SECI tenders provides a robust demand pipeline

Cons

Unlisted status limits access to public capital markets, constraining growth financing options compared to listed peers
Indian solar module manufacturing faces intense competition from low-cost Chinese module imports despite BCD and ALMM protections
Share price of ₹300 implying ~₹30 crore market cap suggests limited scale relative to the capital requirements of solar manufacturing
EPC solar business faces margin pressure from increasing competition and project execution risks
Small solar manufacturers face technology differentiation challenges as panel efficiency standards continue to rise rapidly
Geographic concentration in UP/NCR region limits diversification of project exposure

Business Segments

Solar Module Manufacturing

Manufacturing of photovoltaic solar modules/panels for sale to EPC contractors, developers, and end-users. Products serve rooftop, ground-mount, and utility-scale solar applications.

Solar EPC Services

End-to-end engineering, procurement, and construction services for solar power projects including rooftop solar, ground-mount utility-scale projects, and solar water pumping systems.

Solar O&M Services

Operations and maintenance services for installed solar projects, providing recurring revenue from the company's installed base of EPC projects.

Revenue Model

Jupiter Solar Power generates revenue through three streams: (1) sale of manufactured solar modules to third-party buyers including developers and EPC contractors; (2) lump-sum EPC project revenues from government and commercial solar installations; and (3) recurring annual maintenance contracts (AMC) from its commissioned project portfolio. Revenue is project-order driven with cyclical patterns tied to SECI/MNRE tender award cycles.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds13

Growth Plans

India's 500 GW renewable energy target by 2030 creates sustained high-volume demand for domestic solar manufacturers

PLI scheme incentives for solar module manufacturing provide direct financial support for capacity expansion

BCD protection against Chinese solar module imports protects domestic manufacturers' pricing

PM KUSUM and Rooftop Solar Phase II programs drive distributed solar deployment across UP and India

Recent Developments

Expansion Under PLI Scheme Tailwinds

India's Production Linked Incentive (PLI) scheme for solar PV modules has created favorable conditions for domestic manufacturers including Jupiter Solar Power. The company is reportedly expanding manufacturing capacity to meet growing domestic demand.

2023-2024

PM KUSUM Scheme Beneficiary

Jupiter Solar Power has been involved in solar installations under the PM KUSUM scheme (solar-powered agricultural pumps) in Uttar Pradesh, benefiting from the state's large agricultural sector and government subsidy support.

2023

Comparable Companies

CompanyTypeTickerMkt Cap

Waaree Energies LimitedListedWAAREEENER.NS~₹55,000 crore

Vikram Solar LimitedListedUnlisted~₹5,000 crore (estimated)

Premier Energies LimitedListedPREMIERENE.NS~₹15,000 crore

Waaree Energies LimitedListed

WAAREEENER.NS · ~₹55,000 crore

Frequently Asked Questions

About Jupiter Solar Power Limited

Jupiter Solar Power Limited is an Uttar Pradesh-based solar energy company incorporated in 2008, engaged in the development, installation, and operation of solar photovoltaic (PV) power generation systems for commercial, industrial, and utility-scale applications. The company operates in India's rapidly expanding renewable energy sector, which has set a target of 500 GW non-fossil fuel based capacity by 2030 under India's nationally determined contribution (NDC) to the Paris Agreement. India's solar energy sector has witnessed extraordinary growth, with installed solar capacity expanding from less than 3 GW in 2014 to over 85 GW by 2024 — a 28-fold increase driven by dramatic cost reductions (solar module prices fell 90%+ since 2010), supportive government policies including the PM Kusum scheme for agricultural solar, rooftop solar subsidies, and large-scale solar park development. Jupiter Solar Power participates in this growth story by developing solar power projects including rooftop solar installations, ground-mounted utility projects, and solar power supply arrangements for industrial and commercial consumers. Uttar Pradesh is one of India's largest solar energy target states, with the state government targeting 22 GW of installed capacity by 2026. The company benefits from declining solar equipment costs, favorable net metering regulations, and corporate sustainability commitments driving demand for solar power purchase agreements (PPAs). Jupiter Solar Power offers investors exposure to India's energy transition narrative — a multi-decade secular growth story as the country transitions from fossil fuels to renewable energy sources.

Key Milestones

2008: Incorporated as Jupiter Solar Power Limited in Noida, UP — coinciding with India's early solar energy policy development phase

Common questions about unlisted shares

How do I buy Jupiter Solar Power Limited unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Risk factors & red flagsInvestment risks and items flagged from public filings11

Leverage & DebtHigh

CRISIL rating of CARE D — sub-investment grade; indicates elevated credit risk

Source: CRISIL

Industry / CompetitionLow

Indian solar manufacturing faces competition from large domestic players (Waaree, Adani Solar, Vikram Solar) and persistent pressure from low-cost Chinese module imports despite BCD

Source: AlphaHub Research

Operational RiskLow

Rapid evolution of solar cell technology (from mono PERC to TOPCon to HJT) requires continuous capex; falling behind on technology upgrades reduces competitiveness

Source: AlphaHub Research

Operational RiskLow

Changes to BCD (Basic Customs Duty), ALMM regulations, or PLI scheme parameters directly impact domestic solar manufacturers' competitiveness

Source: AlphaHub Research

Fraud / GovernanceLow

Solar EPC and manufacturing are capital-intensive; access to affordable debt is critical, and small companies are at a disadvantage versus larger listed peers

Source: Media Reports / Public Records

Management RiskLow

EPC project delivery timelines and cost management are critical; delays or cost overruns on large projects can significantly impact margins

Source: Company Financial Filings

Competition Risk

Indian solar manufacturing faces competition from large domestic players (Waaree, Adani Solar, Vikram Solar) and persistent pressure from low-cost Chinese module imports despite BCD

Technology Risk

Rapid evolution of solar cell technology (from mono PERC to TOPCon to HJT) requires continuous capex; falling behind on technology upgrades reduces competitiveness

Policy Risk

Changes to BCD (Basic Customs Duty), ALMM regulations, or PLI scheme parameters directly impact domestic solar manufacturers' competitiveness

Financial Risk

Solar EPC and manufacturing are capital-intensive; access to affordable debt is critical, and small companies are at a disadvantage versus larger listed peers

Execution Risk

EPC project delivery timelines and cost management are critical; delays or cost overruns on large projects can significantly impact margins

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