1 week ago
Avaada Electro Files Updated Rs 7,600-Crore IPO Prospectus With Details
Avaada Electro makes solar cells and solar panels.
It wants to raise money by selling shares to the public.
The planned IPO is worth Rs 7,600 crore.
Most of this amount would come from shares sold by the promoter group, while Rs 1,600 crore would go directly to the company.
The company may first raise Rs 320 crore privately, which would reduce the fresh portion of the IPO.
Avaada Electro plans to use Rs 1,200 crore to repay debt.
Its profit and revenue grew sharply in FY26.
However, the company says its dependence on the wider Avaada Group and related-party dealings could create risks.
Avaada Electro filed an updated draft red herring prospectus with SEBI for a Rs 7,600-crore IPO.
The issue includes a Rs 6,000-crore offer for sale and Rs 1,600 crore of fresh equity.
The company may undertake a Rs 320-crore pre-IPO placement, which would reduce the fresh issue size.
Avaada Electro plans to use Rs 1,200 crore of fresh proceeds to meet debt obligations by FY27.
FY26 profit rose to Rs 888.74 crore and revenue increased to Rs 5,303 crore, according to the filing.
- Who
- Avaada Electro, backed by Avaada Group, and its promoter group, Avaada Ventures Private.
- What
- Avaada Electro filed an updated draft red herring prospectus for a proposed Rs 7,600-crore initial public offering.
- Where
- The company is based in Mumbai and operates manufacturing facilities in Dadri, Uttar Pradesh, and Nagpur, Maharashtra.
- When
- The company first filed its DRHP through the confidential route in October last year and received IPO approval in April this year; its filing reports FY26 performance and borrowings as of June 30, 2026.
- Why
- The company plans to raise fresh capital, use Rs 1,200 crore to meet debt obligations by FY27, and use the balance for general corporate purposes.
Key facts
- Total IPO size
- Rs 7,600 crore
- Offer for sale
- Rs 6,000 crore, to be sold by Avaada Ventures Private
- Fresh issue
- Rs 1,600 crore of equity shares with a face value of Rs 5 each
- Possible pre-IPO placement
- Rs 320 crore; if completed, it will be deducted from the fresh issue
- Planned debt repayment
- Rs 1,200 crore by FY27
- Outstanding borrowings
- Nearly Rs 3,926 crore as of June 30, 2026
- FY26 financial performance
- Profit after tax of Rs 888.74 crore and operating revenue of Rs 5,303 crore
Sources
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