Avaada Electro files updated draft papers for ₹7,600-crore IPO
Of the proceeds from the fresh issue, ₹1,200 crore will be used to repay or prepay certain loans and meet obligations under letters of credit. The remaining amount will be utilised for general corporate purposes
Avaada Electro Ltd, a solar manufacturing arm of the Brookfield-backed Avaada Group, has filed updated draft papers for its proposed ₹7,600-crore IPO. The IPO comprises a fresh issue of equity shares worth ₹1,600 crore and an offer for sale (OFS) of ₹6,000 crore by promoter Avaada Ventures Pvt Ltd. The company plans to expand its solar module capacity to 13.60 GW and solar cell capacity to 12 GW by FY28, creating an integrated manufacturing ecosystem.
The company's revenue from operations rose to ₹5,303.52 crore in FY26 from ₹911.62 crore in FY25, while profit after tax rose to ₹888.74 crore from ₹173 crore.
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Also reported by 1 other outlet
- Avaada Electro files updated draft papers with Sebi for Rs 7,600-cr IPO economictimes.indiatimes.com
