Gautam Solar Plans Major Expansion with IPO

Gautam Solar is set to raise Rs 1,000 crore via an IPO within the next 12-18 months to fund its 2 GW solar cell manufacturing project. This expansion is part of a larger strategy to boost its solar module manufacturing capacity to 5 GW by 2025, aligning with India's national renewable energy goals.

In a bold move to advance its solar manufacturing capabilities, Gautam Solar has announced plans to raise Rs 1,000 crore through an Initial Public Offering (IPO) in the next 12 to 18 months. The funds will be directed towards a 2 GW solar cell manufacturing project, aimed at expanding the company's module manufacturing capacity to 5 GW by 2025.

The proposed expansion will occur in three phases, with completion aimed by April 2025. Gautam Solar emphasized that this move is crucial to achieving India's ambitious renewable energy target of 500 GW by 2030, with the company expected to contribute 5-7% of the national solar capacity.

Managing Director Gautam Mohanka highlighted the strategic importance of this expansion, indicating that Gautam Solar's increased capacity will significantly impact the industry landscape as India strengthens its renewable energy infrastructure.

(With inputs from agencies.)