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Avaada Electro IPO Details
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IPO Size
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About Avaada Electro IPO
Avaada Electro, the wholly owned subsidiary of Avaada Group, has filed papers with the market regulator Sebi through the confidential route to raise funds via an IPO. According to reports, the IPO could be in the range of ₹ 9,000 to ₹10,000 crores.
Avaada Electro is one of India's leading producers of N-Type TOPCon solar PV (photo-voltaic) modules. Its operational solar module production capacity is 8.5GW. It's expected that the company will add another 5.1 GW of capacity by fiscal 2027.
Objectives of Avaada Electro IPO
The company is likely to use the IPO proceeds to develop an additional 5.1 GW solar module manufacturing facility in UP. The funds are also expected to scale up the capacity of its Butibori plant in Maharashtra.
Avaada Electro IPO Lot Size
| Application | Lots | Shares | Amount in INR |
|---|---|---|---|
Individual Investors (Retail) (Min) | TBA | TBA | TBA |
Individual Investors (Retail) (Max) | TBA | TBA | TBA |
S-HNI (Min) | TBA | TBA | TBA |
S-HNI (Max) | TBA | TBA | TBA |
B-HNI (Min) | TBA | TBA | TBA |
Industry Outlook
India’s solar PV panel market size was pegged at USD 7.31 billion in 2023 and is expected to grow at a CAGR of 9.4% from 2024 to 2030. Several factors are likely to drive this growth, including the Jawaharlal Nehru National Solar Mission. Also, a shift towards renewable energy sources and the increasing adoption of solar power by businesses to achieve sustainability goals are expected to drive growth in solar PV panels.
Avaada Electro Company Information
Avaada Electro is one of India's premier solar technology companies, committed to revolutionising renewable energy through its highly efficient solar cells and modules. Backed by state-of-the-art manufacturing, it's driving a transition towards clean energy solutions.
Strengths of Avaada Electro
TBA
Risks of Avaada Electro
TBA
Avaada Electro Financials (in ₹ crores)
| Year | Revenue from Operations | Total equity and liabilities | Return on Net Worth (in %) |
|---|---|---|---|
FY25 | TBA | TBA | TBA |
FY24 | TBA | TBA | TBA |
FY23 | TBA | TBA | TBA |
Peer Comparison
| Company Name | Total Revenue (in ₹ crores) | EPS in ₹ | Return on Net Worth (in %) | NAV Per Equity Share (in ₹) |
|---|---|---|---|---|
Avaada Electro | TBA | TBA | TBA | TBA |
Waaree Energies | TBA | TBA | TBA | TBA |
Premier Energies | TBA | TBA | TBA | TBA |
Vikram Solar | TBA | TBA | TBA | TBA |
Anchor Investor Bidding Date
TBA
IPO Registrar and Book Running Lead Managers
- IPO Registrar: TBA
- Book Running Lead Managers: TBA
Avaada Electro Business Model
Avaada Electro is the manufacturer of high-efficiency solar PV modules. These are designed to ensure maximum energy yield and long-term reliability. The company's globally benchmarked products are geared toward grid-connected projects and support the transition to a net-zero future.
Avaada Electro Growth Trajectory
Avaada Electro’s strong financial position is an important factor for its IPO success. In 2025, the company’s credit ratings were reaffirmed — [ICRA]A- (Stable) for long-term loans and [ICRA]A2+ for short-term borrowings. It also received a “Crisil AA/Stable” rating for its long-term bank loans, showing steady revenue and low risk, thanks to its long-term power purchase agreements.
Avaada Electro Market Position
Avaada Group is one of India's premier renewable power generators. It has expanded into solar PV manufacturing, green hydrogen and derivatives such as green ammonia, green methanol, along with sustainable fuel and pumped hydro.
Avaada Electro Profit and Loss (in ₹ crores)
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Total Income | TBA | TBA | TBA |
Profit Before Tax | TBA | TBA | TBA |
Profit After Tax | TBA | TBA | TBA |
EBITDA | TBA | TBA | TBA |
EPS in ₹ | TBA | TBA | TBA |
Avaada Electro Balance Sheet (in ₹ crores)
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Profit Before Tax | TBA | TBA | TBA |
Net Cashflow from Operating Activities | TBA | TBA | TBA |
Net Cashflow Generated in Investing Activities | TBA | TBA | TBA |
Net Cash from Financing Activities | TBA | TBA | TBA |
Cash and Cash Equivalents at the Year End | TBA | TBA | TBA |
How to Check Allotment Status of Avaada Electro IPO?
1. Visit the Registrar’s Website
Visit the registrar's website and locate the link to check your allotment status. Choose the name of the company from ‘Select Company’ dropdown and enter either your PAN, application number, DP/Client ID, etc. Click on Submit to check the status.
2. Check on the National Stock Exchange Website
The National Stock Exchange (NSE) website has an IPO bid verification module. You can use it to check the allotment status of Avaada Electro IPO. Go to the NSE website and find the ‘Invest’ tab. Click on ‘Verify IPO Bids’ under ‘Resources & Tools’.
On the NSE IPO bid verification page, enter:
- Company name from the dropdown
- Application number
- PAN
Then click ‘Submit’ to know the allotment status.
3. Check on BSE Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the ‘Investors’ tab. Under ‘Investors’, click on ‘IPO’. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Select ‘Equity’ from the dropdown menu
- Choose ‘Avaada Electro’ in the next dropdown
- Enter your application number
- Enter your PAN
- Click ‘Search’ to know allotment status
How to Apply for the Avaada Electro IPO?
To apply for this IPO:
- Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details: Enter the number of lots and the price you wish to apply for.
- Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification: Your UPI app will receive a mandate notification to block funds.
- Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Avaada Electro IPO FAQs
What is the Avaada Electro IPO?
Avaada Electro has filed its DRHP with Sebi through the confidential route, aiming to raise ₹9,000 to ₹10,000 crores through its IPO.
When is the IPO of Avaada Electro coming?
The exact dates of the IPO are yet to be announced.
Who is the Chairman of Avaada Electro?
Vineet Mittal is the Chairman of Avaada Electro.
What is the lot size of shares in the Avaada Electro IPO?
The lot size of shares in this IPO is yet to be announced.
From where can I read more about Avaada Electro and its IPO?
You can read more about Avaada Electro and its IPO from the company’s draft red herring prospectus here.