Archive · 24 Aug 2026
Avaada Electro Weighs Up to $800 Million India IPO
Avaada Electro makes solar cells and panels in India.
It is considering selling shares to the public.
This IPO could raise up to $800 million.
The company may file its public documents as early as this month.
The sale would mostly involve new shares, with some shares possibly sold by current owners.
Avaada already has about 8.5 gigawatts of solar-cell capacity.
It plans to add another 5.1 gigawatts of capacity.
The final amount and timing of the IPO may still change.
Avaada Electro could raise as much as $800 million through an IPO.
The company may publicly file its IPO documents as early as this month.
The offering is expected to include mainly new shares and possibly existing-shareholder sales.
Avaada Electro operates about 8.5 gigawatts of solar-cell capacity in Nagpur and Dadri.
A planned 5.1-gigawatt expansion could increase module capacity to about 13.6 gigawatts.
- Who
- Avaada Electro, the solar manufacturing business of Avaada Group, is considering the IPO.
- What
- The company may launch an IPO that could raise as much as $800 million.
- When
- Public filing could occur as early as this month; draft papers were submitted in October 2025 and regulatory approval was obtained in April 2026.
- Where
- The company’s manufacturing facilities are in Nagpur and Dadri, India.
- Why
- The IPO could raise capital for a planned solar-manufacturing capacity expansion and allow investors to participate in the sector.
- Potential IPO size
- As much as $800 million
- Expected filing
- As early as this month
- IPO structure
- Mainly fresh equity, with a possible offer for sale
- IPO advisers
- ICICI Securities, Axis Capital, HSBC, IIFL Capital Services and Bank of America
- Existing solar-cell capacity
- About 8.5 gigawatts across facilities in Nagpur and Dadri
- Planned expansion
- 5.1 gigawatts
- Expected overall module capacity
- About 13.6 gigawatts after expansion