Avaada Electro Plans $800 Million IPO Filing
· Business · Economic Times, Moneycontrol
Avaada Electro, the solar manufacturing arm of the Avaada Group, is preparing to file for an initial public offering in India that aims to raise up to $800 million. The company has appointed a consortium of banks including ICICI Securities, Axis Capital, HSBC, IIFL Capital Services, and Bank of America to manage the share sale. The offering is expected to comprise a mix of new shares and a secondary sale by existing investors. Avaada Electro, which is backed by Brookfield Renewable Partners, currently operates 8.5 gigawatts of solar manufacturing capacity across Nagpur and Dadri. The firm received regulatory approval for the IPO in April 2026 following a confidential filing in October 2025.
Why it matters
The IPO marks a significant capital expansion for India's renewable energy manufacturing sector, highlighting the growing investor interest in domestic solar cell and module production.
Read the original report — Economic Times
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