🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Rayzon Solar plans to go public as IPO boom draws renewable energy firms
VCCircle
·
8m ago
Medial
Surat-based solar panel manufacturer, Rayzon Solar, is planning to go public through an initial public offering (IPO). The company is expected to file its draft papers with the Securities and Exchange Board of India (SEBI) soon. Plunging costs and increased interest in renewable energy have led to a boom in IPOs by renewable energy companies, and Rayzon Solar aims to capitalize on this trend.
View Source
Related News
Rayzon Solar files DRHP with Sebi for Rs 1,500 crore IPO
Economic Times
·
1m ago
Medial
Rayzon Solar has filed for a Rs 1,500 crore IPO to fund its solar cell manufacturing expansion, using Rs 1,265 crore to establish a 3.5 GW facility. With existing 6.00 GW module capacity, Rayzon aims for 3.5 GW solar cell production by FY 2027. Profits have surged, with FY24 revenue at Rs 1,272.85 crore. The IPO will also fund a 19,800 MT aluminum unit. Shares will list on BSE and NSE with SBI Capital, Ambit, and IIFL Capital as managers.
View Source
Sachin Tendulkar and others invest $18 Mn in Rayzon Solar at $844 Mn valuation
Entrackr
·
3m ago
Medial
Solar panel manufacturer Rayzon Solar is raising Rs 150 crore (approximately $18 million) in a new round from the individual investors including Harshadkumar Patel, cricket legend Sachin Tendulkar, and Divyang Patel, among others. The board at Rayzon Solar has passed a special resolution to issue 64,10,260 equity shares at an issue price of Rs 234 to raise Rs 150 crore or $18 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Harshadkumar Patel led the round with Rs 26.8 crore, followed by Sachin Tendulkar and Divyang Patel contributing Rs 5 crore each. Around 90 other individual investors also participated in the round, contributing through smaller cheques. The proceeds will be used to support the company’s business expansion and future growth plans, including meeting its long-term and short-term funding needs, as well as for general corporate purposes. Additionally, the company has also launched a new ESOP Plan 2025, which will consist of 1,00,00,000 employee stock options, filings stated. Each ESOP option will be converted into equity shares. According to Entrackr’s estimates, the newly added ESOP plan is valued at approximately Rs 234 crore (around $27.5 million). The Surat-based company will be valued at around Rs 7,170 crore or around $844 million post-allotment. This appears to be the maiden external funding round for the IPO-bound firm, as no prior funding history could be traced before this round. Founded in 2017, Rayzon Solar operates on both B2B and B2C models, manufacturing high-efficiency solar PV modules for distributors, EPC companies, and end users. The company caters to residential, commercial, and utility-scale projects across India and international markets. This funding round appears to be a pre-IPO raise, as the company is planning to go public and is expected to file its Draft Red Herring Prospectus (DRHP) soon, according to media reports. For the fiscal year ending March 2024, Rayzon Solar reported an operating revenue of Rs 1,273 crore and a net profit of Rs 61 crore, according to its standalone financial statements filed with the RoC.
View Source
Seci plans to launch IPO within next two years: CMD RP Gupta | Mint
Livemint
·
10m ago
Medial
State-run Solar Energy Corp. of India Ltd (Seci) plans to go public within a year or two, according to its chairman and managing director R.P. Gupta. The company aims to install 10 GW of renewable energy capacity by 2030. Seci, which issues tenders for renewable energy projects, expects to tender 20 GW of projects this fiscal year. India's power demand is projected to reach 2,000 MW by 2047. Gupta also mentioned that power supply agreements for 30 GW of projects are yet to be signed.
View Source
Thailand's Gulf Energy set to get key backer for $1-bn solar power project
VCCircle
·
1y ago
Medial
Thailand's Gulf Energy Development is set to receive financial backing for its $1 billion solar power project. The company plans to expand its renewable energy portfolio with 12 new solar projects as part of the GULF Renewable Power Project. Gulf Energy is one of Thailand's largest private power producers and aims to increase its presence in the renewable energy sector.
View Source
Goldi Solar targets IPO post Havells investment
VCCircle
·
2m ago
Medial
Goldi Solar Pvt Ltd, a Gujarat-based solar module manufacturer, is planning to launch an Initial Public Offering (IPO) by early next year following a recent minority stake sale to Havells India Ltd. Havells, India's largest electrical equipment manufacturer, has invested in Goldi Solar, signaling a significant step for the company toward growth and expansion. This move comes as part of Goldi Solar's strategy to enhance its presence and capabilities in the renewable energy sector.
View Source
Apollo Green Energy plans ₹1,500 crore capex to capitalize on India’s renewables push | Company Business News
Livemint
·
9m ago
Medial
Apollo Group's engineering and construction division, Apollo Green Energy, plans to invest ₹1,500 crore in expanding its capacity and undertaking renewable energy projects for the government and public sector. The company aims to raise capital through an initial public offering in order to fund its expansion plans. Apollo Green Energy has already secured orders worth nearly ₹2,830 crore, primarily for solar projects. The company is optimistic about India's goal of reaching 500 GW of renewable energy capacity by 2030, which could potentially generate projects worth ₹1.25 trillion. Apollo Green Energy aims to increase its portfolio from ₹3,500 crore to ₹10,000 crore next year.
View Source
INOX Clean Energy eyes Rs 6,000 crore IPO, files confidential DRHP
Economic Times
·
28d ago
Medial
INOX Clean Energy is planning to raise Rs 6,000 crore through an Initial Public Offering (IPO), having filed confidential documents with the Securities and Exchange Board of India (Sebi). Part of the INOXGFL Group, the company aims for a market capitalization of around Rs 50,000 crore with the IPO, reportedly marking the largest in India's clean energy sector. Proceeds will finance new solar and Independent Power Producers facilities, alongside the completion of ongoing renewable energy projects.
View Source
IPO-Bound SAEL to Spark Solar Surge with INR 5,000 Cr UP Mega Plant
StartupTalky
·
2m ago
Medial
SAEL plans to invest INR 5,000 crore in establishing a 5 GW solar cell manufacturing plant in Uttar Pradesh to capitalize on government policies promoting local renewable energy suppliers. This Delhi-based, IPO-bound company will expand its solar cell production capabilities, adding to its existing facilities in Rajasthan and Punjab. SAEL also aims to increase its solar power generation capacity to 15 GW within four years, integrating battery storage systems and expanding its waste-to-energy initiatives.
View Source
Energix signs long-term solar power deal with Google
Economic Times
·
11m ago
Medial
Energix Renewables has signed a long-term agreement with Google to supply electricity and renewable energy credits from its solar projects. The deal will initially involve supplying 1.5 GWp of solar project development to power Google's AI data centers, with an option for further expansion. As part of the agreement, Google will also provide tax equity to Energix, allowing the transfer of renewable energy credits under President Biden's Inflation Reduction Act. This move aligns with tech firms' growing interest in securing reliable and sustainable energy sources for their rapidly expanding data centers.
View Source
Middle Eastern retail chain Lulu kickstarts IPO process
VCCircle
·
9m ago
Medial
Middle Eastern retail chain Lulu has launched an initial public offering (IPO), which could be the largest in the UAE this year. Lulu Retail Holdings, which operates over 240 stores across the Gulf Cooperation Council, aims to raise between $1.7bn and $1.8bn for a 25% stake. The IPO will offer 2.582 billion shares, with trading expected to begin on the Abu Dhabi Securities Exchange on 14 November. Lulu's listing comes amid a retail boom in the region that has prompted other grocery firms to go public. The company plans to maintain a dividend payout ratio of 75% of annual distributable profits.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
