Nagpur solar panel maker Avaada Electro to launch ₹7,600cr IPO
Business
Avaada Electro, a solar panel maker from Nagpur, is going public with a ₹7,600 crore IPO.
The plan? Raise ₹1,600 crore through new shares and let its promoter sell another ₹6,000 crore worth.
Most of the fresh funds will go toward paying off debt and keeping things running smoothly.
Avaada revenue ₹5,303.52cr in fiscal 2026
Avaada's revenue shot up from ₹911.62 crore in fiscal 2025 to ₹5,303.52 crore in fiscal 2026, pretty impressive! Profits also climbed to ₹888.74 crore.
Looking ahead, the company wants to boost its solar module capacity and start making more parts in-house by fiscal 2028.
Plus, it scored a government incentive that could bring in up to ₹961.62 crore for expanding production.