Saatvik Solar plans private equity fundraising and IPO to expand operations
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 GW under construction, is focused on expanding its operations. By FY2026, it aims to achieve 2 GW in solar cell manufacturing and 6 GW in module production capacity.
The company has secured orders totalling 513 MW, valued at Rs 6.5 billion, and is actively pursuing innovations in high-efficiency solar PV modules, including technologies like half-cut modules and advanced “0 buzz bar” and “24 buzz bar” modules. Additionally, Saatvik is exploring opportunities in electrolyser battery manufacturing and energy storage solutions to diversify its clean energy offerings.