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Avaada Electro Plans 786 Million Dollar India IPO for November
M
Moneycontrol•08-10-2026, 14:03
Avaada Electro Plans 786 Million Dollar India IPO for November
- •Avaada Electro Ltd., the solar manufacturing arm of Avaada Group, is planning an initial public offering as early as next month.
- •The Brookfield Renewable Partners-backed company is targeting a launch around mid-November to raise as much as 7,600 crore rupees or 786 million dollars.
- •The IPO includes a fresh issue of shares worth up to 1,600 crore rupees and an offer for sale of up to 6,000 crore rupees by parent company Avaada Ventures Pvt.
- •Major financial institutions including ICICI Securities, Axis Capital, Bank of America, HSBC, SBI Capital Markets, and IIFL Capital Services are managing the share sale.
- •Avaada Electro currently operates 8.5 gigawatts of solar-module manufacturing capacity and plans to add another 5.1 gigawatts to reach 13.6 gigawatts.
Key Questions Answered
Avaada Electro Ltd. is planning to launch its initial public offering as early as mid-November, targeting to raise as much as Rs 7,600 crore, which is approximately $786 million.
The potential share sale is being managed by ICICI Securities Ltd., Axis Capital Ltd., Bank of America Corp., HSBC Holdings Plc, SBI Capital Markets Ltd., and IIFL Capital Services Ltd.
Avaada Electro operates 8.5 gigawatts of solar-module manufacturing capacity across Nagpur and Dadri, with plans to add another 5.1 gigawatts to reach a total capacity of 13.6 gigawatts.
