Overview

• The IPO is entirely a fresh issue of up to Rs1,500 crore with a reserved employee allotment at a discounted rate.
• Rayzon Energy Private Limited will receive Rs1,265 crore to build a 3.5 GW solar cell facility using TOPCon technology at Kathvada, Surat, with remaining funds for general corporate purposes.
• The company may undertake a pre-IPO placement of up to Rs300 crore, which would reduce the size of the fresh share offering accordingly.
• Equity shares are proposed to list on the National Stock Exchange and BSE, with SBI Capital Markets, Ambit and IIFL as book-running lead managers and KFin Technologies as registrar.
• Rayzon Solar operates 6 GW of module capacity, holds an order book of 3.60 GW and is adding 2 GW at its Mangrol facility to be operational by October 2025.