Upcoming IPO: Rayzon Solar files draft papers with SEBI for ₹1,500 crore IPO
Rayzon Solar began its journey in 2017 as a partnership entity known as M/s Rayzon Green Energies, specializing in the production of solar PV modules, and has swiftly increased its manufacturing capacity for solar PV modules from just 40 MW as of March 31, 2018, to 6.00 GW as of March 31, 2025.
It produces solar PV modules at two manufacturing sites situated in Karanj and Sava, currently possessing a manufacturing capacity of 3.00 GW at each location and planning to enhance its manufacturing capability by an additional 2.00 GW at the Sava facility, which is set to be operational by October 2025.
Through its subsidiary, Rayzon Energy Private Limited, the company is working on establishing a 3.50 GW solar cell manufacturing facility in Kathvada in Mangrol, utilizing tunnel oxide passivated contact (TOPCon) technology, anticipated to start operations in Fiscal 2027.
Furthermore, it is in the process of creating an aluminum extrusion and anodizing production unit in Sava, Mangrol, Surat, Gujarat, with an annual capacity of 19,800 MT for manufacturing aluminum frames via its subsidiary, Rayzon Industries Private Limited, with expectations for completion in July 2025.
The company serves a diverse clientele, including Panasonic Life Solutions India Private Ltd, Axitec Energy India Private Ltd, KPI Green Energy Ltd, Microtek International Private Ltd, Mahindra Solarize Private Ltd, ACME Cleantech Solutions Private Ltd, V-Guard Industries Ltd, O2 Power Private Ltd, Megha Engineering and Infrastructure Ltd, Hero Rooftop Energy Private Ltd, BluPine Energy Private Ltd, Purushotam Profiles Private Ltd, Balark Solar Private Ltd, and Vardhan Sales.
The IPO, having a face value of ₹ 2 each, consists entirely of a fresh issuance of up to ₹ 1,500 crore, and does not include any offer for sale component.
The funds raised from this fresh issuance, amounting to ₹ 1,265 crore, will be directed toward investment in its wholly owned subsidiary, Rayzon Energy Private Ltd, to partially finance the establishment of a manufacturing facility with an installed capacity of 3.5 GW, dedicated to producing solar cells utilizing TOPCon technology in Gujarat, as well as for general corporate purposes.
SBI Capital Markets Limited, Ambit Private Limited, and IIFL Capital Services Limited are acting as the lead managers for the book-running process, while KFin Technologies Limited serves as the registrar for the offering.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
16 minutes ago
- Economic Times
'Can't work here': Employee walks out of startup on first day after lunch, anecdote goes viral
Synopsis The viral story of a Delhi startup employee walking out on his first day has opened a larger discussion about employee expectations and workplace realities. Even though the authenticity of the incident is not verified, the reactions show how common and relatable sudden exits have become in modern work culture. TIL Creatives Representative image created by AI A social media post about an Indian employee quitting his new job on the very first day has gone viral, sparking conversations about workplace culture. The employee had joined a Delhi-based startup, worked till lunch, and then quietly walked out of the office. He left his laptop on the desk and did not return. The startup tried reaching him through multiple calls, which he initially ignored. Later, he picked up a call from the HR department and gave a short explanation for his absence. He said he could not continue working at the incident was shared on X by a user with the handle '@Poan__Sapdi.' In the post, the user wrote, 'A friend told me about this guy who joined a startup here in Delhi. On his very first day, he left his laptop on his desk during lunch and just never came back. He ignored everyone's calls initially but later picked up HR's, and just said he cannot work there.' — Poan__Sapdi (@Poan__Sapdi) The post quickly gained traction, drawing thousands of views and a stream of responses. Many online users said the incident reflected a growing trend of employees walking away from jobs that do not suit reacted with humor, while others shared their own experiences. 'Been there done that!' wrote one person. Another added, 'Many such cases.' X user Rohit Pandey shared: 'Happens a lot. Secretly, a lot of people plan it - few execute it. I had a guy join with me, quite young and jolly and after lunch he disappeared. The laptop just sat there. Didn't turn up the next day and found from HR that he left.' A lighthearted comment also stood out: 'Well real heroes wait for the salary day, and leave it once the salary is credited with proper KT folder in it.' The anecdote has resonated with many employees who describe themselves as 'corporate slaves.' For some, the story served as a reminder of how quickly workers may decide to quit when faced with an uncomfortable work environment. While the post did not specify the exact reason behind the decision, discussions in the comments pointed to broader themes such as toxic work culture, unpaid overtime, and the pressure of corporate life. (Disclaimer: This article is based on a user-generated post on X for informational purposes. has not independently verified the claims made in the post and does not vouch for their accuracy. The views expressed are those of the individual and do not necessarily reflect the views of Reader discretion is advised.)
Indian Express
an hour ago
- Indian Express
Trump's tariffs create ‘urgency to transform India': billionaire Uday Kotak
Kotak Mahindra group founder Uday Kotak on Wednesday said the uncertainty of Donald Trump's tariff regime had created 'a sense of urgency for transforming India' and offered 'a great opportunity to pivot'. In an interview with the Financial Times, Kotak said policymakers and businesses should use the trade war to 'get focused on productivity, efficiency, excellence and building world-class brands'. 'Manufacturing has to play a very important role', he said, advocating that producers should not focus on India's large domestic market to avoid the need for 'cutting-edge precision'. 'We must think about this as an opportunity for us to get out of our cruise mindset and from a comfort mindset to 'we are at risk',' he told the London-based newspaper. He called for 'direct fiscal support' from the government to 'turbocharge' small businesses in manufacturing, research and technology. The government should channel more budgetary support to small and medium-sized businesses as the economy grapples with Donald Trump's punishing tariffs, Kotak told the FT. India's economy has come under renewed strain after Donald Trump's recent move to impose an additional 25 per cent tariff on Indian exports to the US, on top of the earlier 25 per cent 'reciprocal' levy. The additional tariffs are linked to India's continued purchase of discounted Russian oil — a practice Trump claims indirectly supports Russia's war effort in Ukraine. Analysts have warned that the dual tariff regime could shave off 0.5 to 0.7 percentage points from India's GDP growth, making it critical for India to respond with robust internal reforms. These tariffs have woken Indians up to the risks of global dependency and the urgent need to strengthen our domestic ecosystem. Kotak described the tariffs as a 'major shock' that had 'woken Indians up' to the economic risks posed by Trump's trade war. According to Kotak, India's macroeconomic situation is very comfortable. 'Our fiscal deficit is under control, our current account is under control, you've got macroeconomic stability,' he said. Policymakers and businesses should use the trade war to 'get focused on productivity, efficiency, excellence and building world-class brands,' he told the FT. He said manufacturing has to play a very important role and advocated that producers should not focus on India's large domestic market to avoid the need for 'cutting-edge precision'. With a per capita GDP of $2,700 — against $13,300 for China and almost $89,000 for the US — India 'cannot be in a comfort zone'. 'At the current 'cruise' level, we'll keep on improving our position, but is it fast enough for us to get past the middle-income trap? I think there's a gap,' he was quoted as saying. The 'middle-income trap' refers to a situation where a country achieves a certain level of development but then stagnates, unable to compete with either low-wage economies or high-innovation ones.
Mint
an hour ago
- Mint
Vedanta share price falls as Supreme Court rejects Talwandi Sabo's plea for additional compensation
Vedanta share price fell over a percent on Wednesday after the Supreme Court dismissed a plea by the Vedanta Group seeking additional compensation for its Punjab-based Talwandi Sabo Power project. Vedanta shares fell as much as 1.32% to ₹ 444.15 apiece on the BSE. The company had approached the apex court challenging the withdrawal of 'deemed export' benefits and sought higher compensation, a report said. The Supreme Court upheld the Appellate Tribunal for Electricity's (APTEL) order, ruling that Talwandi Sabo was never legitimately entitled to such benefits. This effectively closes the door on any additional financial relief from the project. Earlier, the National Company Law Tribunal (NCLT) had also rejected the proposed demerger of Talwandi Sabo Power Ltd, a subsidiary of Vedanta. The SC ruling effectively closes the door on additional financial inflows from Talwandi Sabo, tightening the company's legal and financial options. At 12:10 PM, Vedanta share price was trading 0.19% lower at ₹ 449.25 apiece on the BSE.
