1 week ago
Avaada Electro Files DRHP for Rs 7,600 Crore IPO
Avaada Electro makes parts used in solar power systems.
It has filed papers to launch a large IPO, which is a way for a company to raise money from investors.
The proposed IPO is worth Rs 7,600 crore.
The company says Rs 1,200 crore will help meet certain borrowing and lender obligations.
Any remaining money will be used for general business needs.
Avaada sells its solar modules under the Enlume and Integlow brands.
It wants to greatly increase its manufacturing capacity by Fiscal 2028.
The company reported much higher revenue, earnings and orders in FY26 than in FY25.
Its group company, Avaada Energy, provided most of its FY26 revenue.
Avaada Electro filed a DRHP with SEBI for a proposed Rs 7,600 crore IPO.
The company plans to use Rs 1,200 crore of fresh-issue proceeds to meet certain lender-related obligations, with the balance for general corporate purposes.
Avaada Electro produces solar cells and modules marketed under the Enlume and Integlow brands across 13 states.
It targets Fiscal 2028 capacities of 13.60 GW for modules, 12.00 GW for cells and 3.00 GW for ingots and wafers.
Revenue rose to Rs 5,303.52 crore and profit after tax to Rs 888.74 crore in FY26, from Rs 911.62 crore and Rs 173 crore respectively in FY25.
- Who
- Avaada Electro, led by Chairperson Vineet Mittal.
- What
- The company filed a DRHP with SEBI for a proposed Rs 7,600 crore IPO.
- Where
- The DRHP was filed with SEBI in India, and the company operates through distributors across 13 states.
- When
- The filing was reported in the supplied article; no specific filing date was provided.
- Why
- The fresh-issue proceeds are primarily intended for certain lender-related obligations, with the balance for general corporate purposes.
Key facts
- Proposed IPO size
- Rs 7,600 crore
- Debt-related use
- Rs 1,200 crore of fresh-issue proceeds is earmarked for prepayment, repayment or payment obligations related to certain borrowings and letters of credit.
- FY26 revenue
- Rs 5,303.52 crore, compared with Rs 911.62 crore in FY25.
- FY26 profit after tax
- Rs 888.74 crore, compared with Rs 173 crore in FY25.
- FY26 EBITDA
- Rs 1,258.86 crore, compared with Rs 241.68 crore in FY25.
- FY2028 capacity targets
- 13.60 GW of solar modules, 12.00 GW of solar cells, and 3.00 GW of ingot and wafer capacity.
- FY26 anchor customer
- Avaada Energy contributed 89% of Avaada Electro's revenue from operations in FY26.
