Gautam Solar IPO: The IPO of another company in the renewable energy sector is ready to be launched. Actually, Gautam Solar will also have its IPO in the next few months. The company said it plans to raise Rs 1,000 crore through an initial public offering (IPO) in one to one-and-a-half years to fund its 2 GW solar cell manufacturing project. The company said the proposed solar cell project is part of its plan to take its solar module manufacturing capacity to five gigawatts (one gigawatt equals 1,000 MW) by 2025.
When will the IPO come?
Gautam Solar said that the funds for the solar cell expansion plan of about Rs 1000 crore will be arranged through the IPO to be launched in the next 12-18 months. The IPO will also support our further growth and innovation. The first phase of this three-phase expansion will be completed in November while the second and third phases will be completed in January and April 2025 respectively.
Let us tell you that Gautam Solar IPO will accelerate the company’s growth by promoting solar module production and setting up two gigawatt solar cell manufacturing to achieve the five gigawatt target within the stipulated time.
What did the MD of the company say
Gautam Mohanka, MD, Gautam Solar, said increasing its solar module manufacturing capacity to five GW by 2025 is an important step towards India’s 500 GW renewable energy target by 2030. At present, India’s solar energy capacity is about 70 GW and after this expansion, Gautam Solar’s share in the total solar capacity of the country will be five to seven percent. Let us tell you that Gautam Solar was established in the year 1998. This company was established by B.K. Mohanka did it.
