Avaada Electro Files Updated Papers For Rs 7,600 Crore IPO
· Business · Economic Times, LiveMint
Avaada Electro Ltd has submitted updated draft papers to SEBI for a proposed Rs 7,600 crore initial public offering. The IPO includes a fresh issue of equity shares worth Rs 1,600 crore and an offer for sale of Rs 6,000 crore by promoter Avaada Ventures Pvt Ltd. The company intends to use Rs 1,200 crore from the fresh issue to repay loans and meet credit obligations. Avaada Electro manufactures solar cells and modules under the Enlume and Integlow brands, with current operational capacities of 8.5 GW for modules and 3 GW for cells.
Why it matters
This IPO represents a major capital-raising effort in the renewable energy manufacturing sector, aimed at funding significant capacity expansion by FY28.
Read the original report — Economic Times
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