Rayzon Solar Sets Stage for ₹1,500 Crore IPO to Boost Domestic Manufacturing – EQ
In Short : Rayzon Solar, a Surat-based solar panel maker, plans to file draft papers with SEBI for a ₹1,500 crore IPO by June-end. The funds will support manufacturing expansion across its Gujarat plants. With a current installed capacity of 6,000 MW, the company aims to capitalise on India’s growing solar sector after previously raising ₹138 crore through a private placement.
In Detail : Rayzon Solar, a Surat-based solar panel manufacturer, is preparing to file its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) by the end of June. The company aims to raise around ₹1,500 crore through an initial public offering (IPO) as part of its strategic expansion plans.
Established in 2017, Rayzon Solar has seen rapid growth in India’s renewable energy sector. From an initial installed capacity of just 40 MW, the company now operates with a total installed capacity of 6,000 MW across two manufacturing units located in Karanj and Sava in Gujarat.
The IPO will primarily consist of a fresh issue of equity shares. The proceeds from the offering are expected to be used to expand the company’s manufacturing capabilities and support its working capital and general corporate requirements.
In March this year, Rayzon Solar successfully raised ₹138 crore through a private equity placement. This move helped strengthen the company’s financial base ahead of the public offering and demonstrated investor confidence in its business model and future prospects.
Rayzon’s decision to launch its IPO aligns with broader trends in India’s solar manufacturing industry, where companies are scaling up domestic production. The shift is partly driven by global supply chain realignments and government policies that encourage reduced reliance on imports, especially from China.
With the growing demand for renewable energy and a favorable regulatory environment, Rayzon Solar intends to leverage this IPO to solidify its position in the market. The company’s focus remains on delivering high-quality solar modules and contributing to India’s clean energy goals.
