Avaada Electro's IPO Set to Spark Solar Manufacturing Expansion

Avaada Electro, part of the Brookfield-backed Avaada Group, plans to raise Rs 9,000-10,000 crore through an IPO. Proceeds will fund capacity expansion, including a 5.1 GW facility in Uttar Pradesh. The company aims to boost solar module and cell capacities significantly by 2027.

Avaada Electro, the solar manufacturer under Brookfield-backed Avaada Group, is reportedly gearing up to launch an Initial Public Offering (IPO) to boost its capital.

Sources reveal the company seeks to raise Rs 9,000-10,000 crore, with the funds directed towards augmenting its solar cell and module production capacities.

This ambitious expansion includes the establishment of a 5.1 GW integrated facility in Uttar Pradesh and enhancements at the Butibori plant in Maharashtra.

(With inputs from agencies.)