Rayzon Solar Set to File Draft Papers for ₹1,500 Crore IPO

Surat-based solar panel manufacturer Rayzon Solar Ltd is gearing up to enter the capital markets with a public offering worth around ₹1,500 crore. The company plans to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) by the end of the month, according to people familiar with the matter. 

The move comes as the solar manufacturing industry experiences increased traction on the back of import restrictions and a global pivot away from China-centric supply chains.

IPO Plans of Rayzon Solar

Rayzon Solar has already enlisted the services of top investment banks to manage the proposed offering. The Initial Public Offering(IPO) is expected to comprise a fresh issue of equity shares, with the proceeds earmarked for the company's ongoing expansion efforts.

The planned public offering aligns with the broader market environment that currently favours domestic solar manufacturers, buoyed by regulatory support and growing international demand for diversified sourcing in renewable energy.

Rapid Growth and Operational Expansion

Established in 2017, Rayzon Solar has swiftly emerged as one of India’s fastest-growing solar PV module producers. From a modest beginning with just 40 MW of installed module capacity, the company has scaled up operations to a cumulative capacity of 6,000 MW across 2 plants located in Karanj and Sava, Gujarat.

In March, Rayzon Solar raised approximately ₹138 crore via private placement of equity shares, signalling strong investor confidence and setting the stage for its market debut.

Read More: Best Oil and Gas Stocks in June 2025 Based on 5-Yr CAGR!

Conclusion

Rayzon Solar’s proposed IPO marks a significant step in its growth trajectory, underpinned by a favourable regulatory landscape and rising global demand for non-China solar supply chains. The planned capital infusion is expected to further strengthen its manufacturing capabilities and consolidate its market position.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.