1 week ago
Avaada Electro Files ₹7,600 Crore IPO Papers With SEBI
Avaada Electro makes solar cells and modules.
It wants to sell shares to the public through an IPO.
The total IPO could be worth ₹7,600 crore.
Some money would come from new shares sold by the company, while another portion would come from shares sold by its promoter, Avaada Ventures.
The company may also raise ₹320 crore before the IPO.
It plans to use ₹1,200 crore from the new share sale to repay loans.
Avaada Electro is expanding its factories and expects much larger production capacity by FY28.
Its profit and revenue both increased sharply in FY26.
Avaada Electro filed updated IPO papers with SEBI for an issue of up to ₹7,600 crore.
The proposed offering includes a ₹1,600 crore fresh issue and a ₹6,000 crore offer for sale by Avaada Ventures.
The company may raise up to ₹320 crore through a pre-IPO placement, adjusted against the fresh issue.
Avaada Electro plans to use ₹1,200 crore of fresh proceeds to repay debt.
The company targets major solar manufacturing expansion by FY28, including 13.60 GW of module and 12 GW of cell capacity.
- Who
- Avaada Electro and its promoter, Avaada Ventures.
- What
- Avaada Electro filed updated IPO documents for an offering of up to ₹7,600 crore.
- Where
- The company is developing additional manufacturing facilities at Greater Noida, Uttar Pradesh.
- When
- The company pre-filed confidentially in October 2025, received SEBI approval in April 2026, and reported borrowings as of June 2026.
- Why
- The IPO is intended to support manufacturing expansion, while ₹1,200 crore of fresh proceeds is earmarked for debt repayment.
Key facts
- Total proposed IPO
- Up to ₹7,600 crore
- Fresh issue
- ₹1,600 crore
- Offer for sale
- Up to ₹6,000 crore by Avaada Ventures
- Potential pre-IPO placement
- Up to ₹320 crore, adjusted against the fresh issue
- Debt repayment allocation
- ₹1,200 crore from fresh issue proceeds
- Borrowings
- ₹3,926.4 crore as of June 2026
- FY26 performance
- Profit rose nearly five-fold to ₹888.7 crore; revenue increased nearly six-fold to ₹5,303.5 crore
- FY28 capacity targets
- 13.60 GW of modules, 12 GW of cells, and 3 GW of ingots and wafers
Sources
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