Upcoming IPO: Rayzon Solar Files DRHP with SEBI for ₹1500 crore IPO
Rayzon Solar Ltd., a leading solar photovoltaic (PV) module manufacturer, has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹1,500 crore via a fresh issue of equity shares.
IPO Structure and Details
- Issuance Type: The proposed issue is a fresh equity issue totalling ₹1,500 crore with no Offer For Sale component.
- Pre-IPO Placement: The company may consider a pre-IPO placement of ₹300 crore before filing the Red Herring Prospectus (RHP) with the Registrar of Companies (RoC).
- Listing: Proposed on NSE and BSE.
- Book-running Lead Managers: SBI Capital Markets Limited, IIFL Capital Services Limited, and Ambit Private Limited.
- Registrar: KFin Technologies
Utilisation of Funds
The net proceeds from the fresh issue will be used to:
- Invest in wholly owned Subsidiary, Rayzon Energy Private Limited, to support the expansion of the Surat manufacturing hub.
- General corporate purposes
Financial performance
Rayzon’s revenue from operations has grown significantly from ₹261.65 crore in FY 2022 to ₹1,272.85 crore in FY 2024, reflecting an impressive CAGR of 120.56%. For the nine months ended December 31, 2024, the company reported revenue from operations of ₹1,957 crore and a restated profit of ₹239 crore.
Company Profile
Rayzon Solar manufactures solar photovoltaic modules and is among India's top 10 manufacturers of solar photovoltaic (“PV”) modules (with an installed capacity of
6.00 GW as of March 31, 2025). The manufacturing is done via two manufacturing plants in Karanj and Sava in Surat, Gujarat, India.
Check out other upcoming IPO's: Crizac IPO
Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.
To read the RA disclaimer, please click here