Solar panel maker Avaada Electro files updated DRHP for ₹7,600 crore IPO
The Brookfield-backed company plans a ₹1,600 crore fresh issue and a ₹6,000 crore offer for sale as it expands solar module and cell manufacturing capacity in India
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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- Avaada Electro Files IPO Papers To Raise ₹7,600 Crore; Plans ₹6,000 Crore OFS And ₹1,600 Crore Fresh Issue freepressjournal.in
- Avaada Electro files updated draft papers with Sebi for Rs 7,600-cr IPO economictimes.indiatimes.com
- Avaada Electro files IPO papers with SEBI, eyes ₹7,600 crore thehindubusinessline.com
