Another company in the renewable energy sector is gearing up for an IPO. This solar company will also have its IPO in the next few months. The company said it plans to fund its 2 GW solar cell manufacturing project through an initial public offer (IPO) of Rs. 1,000 crore plans to raise.
The company said the proposed solar cell project is part of its plan to take its solar module production capacity to five gigawatts (one gigawatt equals 1,000 megawatts) by 2025.
Gautam Solar said the funding for the solar cell expansion plan worth around Rs 1,000 crore will be arranged through an 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.
The 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 target of five gigawatts within the stipulated time.
Gautam Mohanka, MD of Gautam Solar, said that increasing its solar module manufacturing capacity to 5 GW by 2025 is an important step towards India's 500 GW renewable energy target by 2030.
Currently, India's solar power capacity is around 70 GW and after this expansion, Gautam Solar's share of the country's total solar capacity will increase to five to seven percent. Let us tell you that Gautam Solar was established in the year 1998, B.K. It was founded by Mohanka.
Note: Do not invest in stock market without knowledge. Before investing in any shares you should talk to your financial advisor once. If you do not do so, you may suffer financial loss.
. Source
