Saatvik Solar is reportedly planning to raise Rs 10 billion through an initial public offering (IPO) to fund its expansion plans. The company, which currently has a module production capacity of 1.8 GW, expects to increase this capacity to 3.8 GW by November 2024. Over the next two years, Saatvik plans to invest Rs 22 billion to further boost its module-making capacity to 7.8 GW and establish a 2 GW cell manufacturing capacity.
Solar module maker Saatvik Solar has announced plans to raise funds from private equity investors and launch an initial public offering (IPO) to support its expansion efforts. At a press conference, Group Chief Financial Officer Abani Kant Jha stated that the company is targeting a 100% revenue growth in the current fiscal year, aiming to reach Rs 20 billion. Saatvik Solar, with a current solar module manufacturing capacity of 3.8 GW and an additional 2…
Waaree Energies Limited, an Indian solar PV module manufacturer, has received final approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) to raise Rs 30 billion. The IPO will include a fresh issue of shares with a face value of Rs 10 per equity share, and an offer for sale (OFS) of up to 3.2 million equity shares, as outlined in its draft red herring prospectus filed in…
Solar91 Cleantech, a Jaipur-based solar energy solutions provider, has filed its preliminary papers for an initial public offering (IPO) on the BSE SME platform. The IPO consists of a fresh issue of 5.436 million shares at a face value of Rs 10 each, targeting to raise approximately Rs 1 billion through the book-building route. The proceeds will be used for project development as an independent power producer (IPP), along with meeting working capital needs and…
NTPC Green Energy Limited (NGEL) has submitted draft documents for an initial public offering (IPO) valued at Rs 100 billion. The IPO will consist solely of new shares, with no existing shareholders selling their stakes. NGEL aims to capitalize on the growing interest in renewable energy and the strong performance of the stock market, using the proceeds to accelerate its green energy projects.
Regreen-Excel EPC India Limited has filed preliminary papers with SEBI to raise funds through an initial public offering (IPO). The company plans to issue fresh equity shares worth Rs 3.5 billion, alongside an offer-for-sale of 11.4 million shares by the promoters. The capital raised will be used to repay debt, secure bank guarantees, and for general corporate purposes. Regreen-Excel, an ethanol plant manufacturer, has completed 113 projects in the last two months since its inception…
Hero Motors, part of the Hero Motors Company (HMC) Group, has filed with SEBI to raise Rs 9 billion through an IPO. The offer includes Rs 5 billion in new shares and Rs 4 billion through an offer-for-sale by promoters. Promoter O P Munjal Holdings will sell shares worth Rs 2.5 billion, and Bhagyoday Investments and Hero Cycles will each sell shares worth Rs 750 million. The company may also conduct a pre-IPO placement of…
Premier Energies Ltd, a solar cell and module manufacturer, has set a price band of Rs 427-450 per share for its Rs 28.3 billion initial public offering (IPO). The IPO will open from August 27 to August 29, with bidding for anchor investors starting on August 26. The offering includes a fresh issue of shares worth Rs 12.91 billion and an offer-for-sale (OFS) of up to 34.2 million shares, valued at Rs 15.39 billion at…
Danish renewable energy producer Ørsted has announced the cancellation of its FlagshipOne green hydrogen-to-methanol project, despite reporting increased operating profits for the first half (H1) of 2024. Operating profit for Ørsted reached DKr14.1 billion in H1 2024, up from DKr10.2 billion in the same period of 2023. The company’s interim report, released on 15 August, highlighted growth in earnings from offshore facilities and the commissioning of 2 gigawatts (GW) of renewable energy capacity. Group President…
Ola Electric Mobility Ltd.’s IPO saw a muted response on the first day (August 1). Retail investors fully subscribed within three hours. Investors bid for 163.4 million shares, or 0.35 times the 465.1 million shares offered. The bidding closes on August 6. The IPO was subscribed 0.35 times overall, led by retail investors at 1.57 times. Non-institutional investors subscribed 0.20%, while qualified institutional buyers made no bids. The employee quota was subscribed 4.88 times. Ola…
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