Rayzon Solar to file Rs 15 billion IPO papers with SEBI
Author: PPD Team Date: June 17, 2025
Rayzon Solar Limited plans to file draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth about Rs 15 billion. The offer will consist of a fresh issue of equity shares.
The company has appointed leading investment banks to manage the issue. Proceeds from the IPO will go towards expanding its manufacturing capacity and supporting growth plans.
Rayzon Solar recently secured a 280 MWp module supply contract from Mahindra Susten in February 2025. The deal involves its n-type Tunnel Oxide Passivated Contact (TOPCon) modules, which have over 22.65 per cent efficiency and improved durability.
The modules will be manufactured at Rayzon’s 6 GW facility in Gujarat. The company aims to scale up production to 13 GW by 2026 in phases.