Latest news with #RayzonSolar
Time of India
6 days ago
- Business
- Time of India
Rayzon Solar files DRHP with Sebi for Rs 1,500 crore IPO
Gujarat-based Rayzon Solar plans to use the bulk of the proceeds from its planned Rs 1,500 cr-IPO to set up a 3.5 GW solar cell manufacturing facility and expand its green energy manufacturing footprint. With a current module capacity of 6 GW and robust financial growth, Rayzon is positioning itself as a key player in India's solar push. Tired of too many ads? Remove Ads IPO details Use of proceeds Capacity growth and manufacturing expansion Tired of too many ads? Remove Ads Product portfolio & clients Financial Performance IPO Book Runners and Listing The company has an installed module manufacturing capacity of 6.00 GW as of March 31, 2025. Rayzon Solar is targeting the next phase of its growth by expanding into solar cell manufacturing The IPO will have a face value of Rs 2 per share and includes a reservation for eligible employees at a discounted rate. The company may also explore a pre-IPO placement of up to Rs 300 crore. If completed, this will reduce the fresh issue size the planned Rs 1,500 crore IPO, Rs 1,265 crore will be invested in its wholly owned subsidiary, Rayzon Energy Private Limited (REPL), to partially fund the establishment of a 3.5 GW solar cell manufacturing facility using TOPCon (Tunnel Oxide Passivated Contact) technology in Kathvada, Surat. The remainder will be allocated to general corporate began operations in 2017 and scaled its module capacity from 40 MW in 2018 to 6.00 GW by 2025. It currently operates two manufacturing plants in Karanj and Sava, each with 3.00 GW capacity. An additional 2.00 GW capacity at Sava is expected to become operational by October REPL, the company is building a 3.5 GW solar cell unit (operational by FY 2027) and a 19,800 MT aluminium extrusion and anodising unit via another subsidiary, Rayzon Industries, expected to go live in July company is a certified manufacturer under the Ministry of New and Renewable Energy's Approved List of Module Manufacturers ('ALMM'), with an enlisted capacity of 3.00 GW, constituting 3.8% of the total ALMM enlisted capacity as of April 21, 2025. (Source: CRISIL Report).Also read: Last chance: HDB Financial's Rs 12,500 crore IPO closes today. Should you chase 8% listing gains? The company offers a wide range of modules, including: Bifacial modules with N-type TOPCon and P-type Mono PERC cells, Monofacial and full black variants with PERC and TOPCon technology,Rayzon serves over 500 clients, including major names like Panasonic Life Solutions, Mahindra Solarize, ACME Cleantech, V-Guard Industries , and Hero Rooftop Energy. It also supplies modules under key government schemes like PM Surya Ghar Muft Bijlee Yojana and of May 31, 2025, Rayzon had an order book of 3.60 GW for PV modules and a distribution network of 68 channel partners across 59 cities in 20 states and union Solar has delivered impreesice growth over the past financial years, with revenue from operations rising from Rs 261.65 crore in FY22 to Rs 1,272.85 crore in FY24, reflecting a CAGR of 120.56%, while EBITDA surged from Rs 13.47 crore to Rs 101.41 crore (CAGR: 174.35%) and profit after tax increased from Rs 3.91 crore to Rs 60.94 crore. For the nine months ended December 31, 2024, the company reported revenue of Rs 1,957 crore and PAT of Rs 239.03 Capital Markets, Ambit Private Limited, and IIFL Capital Services are the book-running lead managers, while KFin Technologies is the registrar. The equity shares will be listed on the BSE and the NSE.
Economic Times
6 days ago
- Business
- Economic Times
Rayzon Solar files DRHP with Sebi for Rs 1,500 crore IPO
IPO details Use of proceeds Capacity growth and manufacturing expansion Live Events Product portfolio & clients Financial Performance IPO Book Runners and Listing (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The company has an installed module manufacturing capacity of 6.00 GW as of March 31, 2025. Rayzon Solar is targeting the next phase of its growth by expanding into solar cell manufacturing The IPO will have a face value of Rs 2 per share and includes a reservation for eligible employees at a discounted rate. The company may also explore a pre-IPO placement of up to Rs 300 crore. If completed, this will reduce the fresh issue size the planned Rs 1,500 crore IPO, Rs 1,265 crore will be invested in its wholly owned subsidiary, Rayzon Energy Private Limited (REPL), to partially fund the establishment of a 3.5 GW solar cell manufacturing facility using TOPCon (Tunnel Oxide Passivated Contact) technology in Kathvada, Surat. The remainder will be allocated to general corporate began operations in 2017 and scaled its module capacity from 40 MW in 2018 to 6.00 GW by 2025. It currently operates two manufacturing plants in Karanj and Sava, each with 3.00 GW capacity. An additional 2.00 GW capacity at Sava is expected to become operational by October REPL, the company is building a 3.5 GW solar cell unit (operational by FY 2027) and a 19,800 MT aluminium extrusion and anodising unit via another subsidiary, Rayzon Industries, expected to go live in July company is a certified manufacturer under the Ministry of New and Renewable Energy's Approved List of Module Manufacturers ('ALMM'), with an enlisted capacity of 3.00 GW, constituting 3.8% of the total ALMM enlisted capacity as of April 21, 2025. (Source: CRISIL Report).Also read: Last chance: HDB Financial's Rs 12,500 crore IPO closes today. Should you chase 8% listing gains? The company offers a wide range of modules, including: Bifacial modules with N-type TOPCon and P-type Mono PERC cells, Monofacial and full black variants with PERC and TOPCon technology,Rayzon serves over 500 clients, including major names like Panasonic Life Solutions, Mahindra Solarize, ACME Cleantech, V-Guard Industries , and Hero Rooftop Energy. It also supplies modules under key government schemes like PM Surya Ghar Muft Bijlee Yojana and of May 31, 2025, Rayzon had an order book of 3.60 GW for PV modules and a distribution network of 68 channel partners across 59 cities in 20 states and union Solar has delivered impreesice growth over the past financial years, with revenue from operations rising from Rs 261.65 crore in FY22 to Rs 1,272.85 crore in FY24, reflecting a CAGR of 120.56%, while EBITDA surged from Rs 13.47 crore to Rs 101.41 crore (CAGR: 174.35%) and profit after tax increased from Rs 3.91 crore to Rs 60.94 crore. For the nine months ended December 31, 2024, the company reported revenue of Rs 1,957 crore and PAT of Rs 239.03 Capital Markets, Ambit Private Limited, and IIFL Capital Services are the book-running lead managers, while KFin Technologies is the registrar. The equity shares will be listed on the BSE and the NSE.
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Business Standard
6 days ago
- Business
- Business Standard
Rayzon Solar files DRHP with Sebi for ₹1,500 crore IPO; check key details
Upcoming IPO: Gujarat-based Rayzon Solar, a solar photovoltaic module manufacturer, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its maiden public issue. The initial public offering (IPO), with a face value of ₹2 per share, is entirely a fresh issue to raise ₹1,500 crore, with no offer for sale (OFS) component. In addition, the offer includes a subscription reservation with a discount to eligible employees in the employee reservation portion. In the pre-IPO round, the company is planning to raise around ₹300 crore. Kfin Technologies is the registrar of the issue. SBI Capital Markets, Ambit, and IIFL Capital Services are the book-running lead managers. According to the DRHP, the company intends to utilise ₹1,265 crore from net fresh issue proceeds for investment in its wholly owned subsidiary, Rayzon Energy, for part financing the cost of establishing the manufacturing facility with 3.5 GW installed capacity, to produce solar cells using TOPCon technology in Surat, Gujarat. The remaining funds will be used for general corporate purposes. Rayzon Solar started operations in 2017 as a partnership firm named Rayzon Green Energies, manufacturing solar PV modules. It has since expanded its installed manufacturing capacity for solar PV modules from 40 MW as of March 31, 2018, to 6 GW as of March 31, 2025. The company manufactures solar PV modules at its two manufacturing modules in Karanj and Sava, with an existing solar PV capacity of 3 GW each. The company is increasing module manufacturing capacity at its Sava facility by 2 GW, expected to be operational by October 2025. Rayzon Energy, a subsidiary of Rayzon Solar, is setting up a 3.5 GW solar cell manufacturing unit in Kathcada in Mangrol, using tunnel oxide passivated contact (TOPCon) technology. This is expected to become operational in fiscal 2027. The company's product portfolio includes bifacial (dual glass or glass to glass) modules with N-type TOPCon cells and P-type Mono Passivated Emitter and Rear Contact (Mono PERC) cells, bifacial (glass to transparent backsheet) modules with Mono PERC cells, monofacial (single glass to white back sheet/black back sheet) modules with Mono PERC cells, a full black variant of bifacial modules with TOPCon cells, and a full black variant of bifacial and monofacial (glass to glass and glass to transparent backsheet) modules with Mono PERC cells. Its key clients include Panasonic Life Solutions India, Axitec Energy India, KPI Green Energy, Microtek International, Mahindra Solarize, ACME Cleantech Solutions, V-Guard Industries, O2 Power, Megha Engineering and Infrastructure, Hero Rooftop Energy, BluPine Energy, Purushotam Profiles, Balark Solar and Vardhan Sales. The company also supplies its modules under government programs such as the Pradhan Mantri Surya Ghar Muft Bijlee Yojana and the PM-KUSUM initiative, in the states of Gujarat, Rajasthan, Maharashtra, Madhya Pradesh and Tamil Nadu.
Time of India
13-06-2025
- Business
- Time of India
Rayzon Solar to file draft papers for ₹1,500-cr IPO
Solar panel manufacturer Rayzon Solar Ltd is planning to file its draft papers with markets regulator Sebi by the end of the month, as it prepares for about ₹1,500-crore initial public offering (IPO), people familiar with the plan said on Friday. The Surat-based company has already roped in top investment banks to manage the public offering. According to the people familiar with the plan, the company is looking to raise funds through fresh issuance of equity shares and proceeds are expected to be used for for its expansion plans. An email to Rayzon Solar seeking confirmation of the draft papers filing and IPO details did not elicit a response. The company is considering to enter the public market at a time when the domestic solar manufacturing industry is gaining traction, driven by import curbs, and rising global interest in non-China supply chains. Founded in 2017, Rayzon Solar has emerged as one of the fastest-growing solar PV module manufacturers in the country. As per its website, the company has grown from an initial installed module manufacturing capacity of just 40 MW to 6,000 MW, across two facilities in Karanj and Sava, Gujarat, and is likely to expand further. In March, the company raised around ₹138 crore through private placement of equity shares.
Economic Times
13-06-2025
- Business
- Economic Times
Rayzon Solar to file draft papers for Rs 1,500-cr IPO
Solar panel manufacturer Rayzon Solar Ltd is planning to file its draft papers with markets regulator Sebi by the end of the month, as it prepares for about Rs 1,500-crore initial public offering (IPO), people familiar with the plan said on Friday. ADVERTISEMENT The Surat-based company has already roped in top investment banks to manage the public offering. According to the people familiar with the plan, the company is looking to raise funds through fresh issuance of equity shares and proceeds are expected to be used for for its expansion plans. An email to Rayzon Solar seeking confirmation of the draft papers filing and IPO details did not elicit a response. The company is considering to enter the public market at a time when the domestic solar manufacturing industry is gaining traction, driven by import curbs, and rising global interest in non-China supply chains. Founded in 2017, Rayzon Solar has emerged as one of the fastest-growing solar PV module manufacturers in the country. As per its website, the company has grown from an initial installed module manufacturing capacity of just 40 MW to 6,000 MW, across two facilities in Karanj and Sava, Gujarat, and is likely to expand further. In March, the company raised around Rs 138 crore through private placement of equity shares. PTI
