SOLV Energy's Nasdaq debut earns it a valuation of $6 billion
SOLV Energy shares grew 20% on 'Wednesday in New York, valuing the firm at $5.98 billion. This highlights a'strong rebound in IPO activity in - 2026.
The shares opened at $30, which is above the $25 price at which they sold 20.05 million shares to raise $512.5 millions on Tuesday.
The U.S. Federal Reserve has cut interest rates to the end of the year 2025. This has helped improve pricing conditions, and more companies have been encouraged to list on the public markets.
A slowdown in the last year due to volatility on the market caused by President Donald Trump's changing tariffs, and a government shutdown, created pent up demand amongst issuers.
Clear Street, a Wall Street company, is set to IPO later this week. It's aiming for a valuation near $12 billion, the largest this year.
SOLV Energy offers?construction, operations and maintenance services to large-scale battery and solar storage projects. It was founded in 2008
The business, originally a division within Swinerton Builders was purchased by American Securities in 2021, along with SOLV which was a separate entity at the time.
SOLV?Energy's total backlog was about $8 billion in December 2025. This was primarily due to engineering and construction contract.
In an interview, SOLV CEO George Hershman stated that the backlog would continue to be processed by the company. This gives the company a great deal of confidence in the future performance of the business.
Hershman stated that SOLV intended to 'delever its balance sheet, pay off a term loan, and 'come out of IPO debt free.
The joint book-running managers of the offering are Jefferies and J.P. Morgan. (Reporting and editing by Sahal Muhammad in Bengaluru, Pragyan kalita and Pritam biswas from Bengaluru)
(source: Reuters)
