Latest news with #RayzonSolarLtd


Mint
6 days ago
- Business
- Mint
Upcoming IPO: Rayzon Solar files draft papers with SEBI for ₹1,500 crore IPO
Upcoming IPO: Gujarat-based Rayzon Solar Ltd has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO). Rayzon Solar began its journey in 2017 as a partnership entity known as M/s Rayzon Green Energies, specializing in the production of solar PV modules, and has swiftly increased its manufacturing capacity for solar PV modules from just 40 MW as of March 31, 2018, to 6.00 GW as of March 31, 2025. It produces solar PV modules at two manufacturing sites situated in Karanj and Sava, currently possessing a manufacturing capacity of 3.00 GW at each location and planning to enhance its manufacturing capability by an additional 2.00 GW at the Sava facility, which is set to be operational by October 2025. Through its subsidiary, Rayzon Energy Private Limited, the company is working on establishing a 3.50 GW solar cell manufacturing facility in Kathvada in Mangrol, utilizing tunnel oxide passivated contact (TOPCon) technology, anticipated to start operations in Fiscal 2027. Furthermore, it is in the process of creating an aluminum extrusion and anodizing production unit in Sava, Mangrol, Surat, Gujarat, with an annual capacity of 19,800 MT for manufacturing aluminum frames via its subsidiary, Rayzon Industries Private Limited, with expectations for completion in July 2025. The company serves a diverse clientele, including Panasonic Life Solutions India Private Ltd, Axitec Energy India Private Ltd, KPI Green Energy Ltd, Microtek International Private Ltd, Mahindra Solarize Private Ltd, ACME Cleantech Solutions Private Ltd, V-Guard Industries Ltd, O2 Power Private Ltd, Megha Engineering and Infrastructure Ltd, Hero Rooftop Energy Private Ltd, BluPine Energy Private Ltd, Purushotam Profiles Private Ltd, Balark Solar Private Ltd, and Vardhan Sales. The IPO, having a face value of ₹ 2 each, consists entirely of a fresh issuance of up to ₹ 1,500 crore, and does not include any offer for sale component. The funds raised from this fresh issuance, amounting to ₹ 1,265 crore, will be directed toward investment in its wholly owned subsidiary, Rayzon Energy Private Ltd, to partially finance the establishment of a manufacturing facility with an installed capacity of 3.5 GW, dedicated to producing solar cells utilizing TOPCon technology in Gujarat, as well as for general corporate purposes. SBI Capital Markets Limited, Ambit Private Limited, and IIFL Capital Services Limited are acting as the lead managers for the book-running process, while KFin Technologies Limited serves as the registrar for the offering.


Mint
6 days ago
- Business
- Mint
Upcoming IPO: Rayzon Solar files draft papers with SEBI for ₹1,500 crore IPO
Upcoming IPO: Gujarat-based Rayzon Solar Ltd has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO). Rayzon Solar began its journey in 2017 as a partnership entity known as M/s Rayzon Green Energies, specializing in the production of solar PV modules, and has swiftly increased its manufacturing capacity for solar PV modules from just 40 MW as of March 31, 2018, to 6.00 GW as of March 31, 2025. It produces solar PV modules at two manufacturing sites situated in Karanj and Sava, currently possessing a manufacturing capacity of 3.00 GW at each location and planning to enhance its manufacturing capability by an additional 2.00 GW at the Sava facility, which is set to be operational by October 2025. Through its subsidiary, Rayzon Energy Private Limited, the company is working on establishing a 3.50 GW solar cell manufacturing facility in Kathvada in Mangrol, utilizing tunnel oxide passivated contact (TOPCon) technology, anticipated to start operations in Fiscal 2027. Furthermore, it is in the process of creating an aluminum extrusion and anodizing production unit in Sava, Mangrol, Surat, Gujarat, with an annual capacity of 19,800 MT for manufacturing aluminum frames via its subsidiary, Rayzon Industries Private Limited, with expectations for completion in July 2025. The company serves a diverse clientele, including Panasonic Life Solutions India Private Ltd, Axitec Energy India Private Ltd, KPI Green Energy Ltd, Microtek International Private Ltd, Mahindra Solarize Private Ltd, ACME Cleantech Solutions Private Ltd, V-Guard Industries Ltd, O2 Power Private Ltd, Megha Engineering and Infrastructure Ltd, Hero Rooftop Energy Private Ltd, BluPine Energy Private Ltd, Purushotam Profiles Private Ltd, Balark Solar Private Ltd, and Vardhan Sales. The IPO, having a face value of ₹ 2 each, consists entirely of a fresh issuance of up to ₹ 1,500 crore, and does not include any offer for sale component. The funds raised from this fresh issuance, amounting to ₹ 1,265 crore, will be directed toward investment in its wholly owned subsidiary, Rayzon Energy Private Ltd, to partially finance the establishment of a manufacturing facility with an installed capacity of 3.5 GW, dedicated to producing solar cells utilizing TOPCon technology in Gujarat, as well as for general corporate purposes. SBI Capital Markets Limited, Ambit Private Limited, and IIFL Capital Services Limited are acting as the lead managers for the book-running process, while KFin Technologies Limited serves as the registrar for the offering. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.


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


Time of India
13-06-2025
- Business
- Time of India
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. The Surat-based company has already roped in top investment banks to manage the public offering. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Air conditioners without external unit. (click to see prices) Air Condition | Search Ads Search Now Undo 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. Live Events 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