Avaada Electro Updates Rs 7,600 Crore IPO Filing with SEBI
By ThePip Desk
Avaada Electro, Brookfield-backed Avaada Group’s solar arm, has updated its Rs 7,600 crore IPO draft papers with SEBI, including a fresh issue and promoter OFS.
Avaada Electro, the solar manufacturing arm of the Brookfield-backed Avaada Group, has filed updated draft papers with SEBI for an Initial Public Offering (IPO) aiming to raise Rs 7,600 crore.
This public issue includes a fresh equity share issue alongside an Offer for Sale (OFS) by its promoter, Avaada Ventures.
Key Offering Details
- Total IPO Size: Rs 7,600 crore
- Fresh Issue of Equity Shares: Rs 1,600 crore
- Offer for Sale (OFS) by Avaada Ventures: Rs 6,000 crore
The company initially filed its draft IPO papers via a confidential route in October 2025. SEBI granted regulatory approval for the public issue in April 2026.
Fund Utilization Plan
A significant portion of the fresh issue funds is earmarked for debt management and operational commitments.
- Repayment or prepayment of existing loans: Rs 1,200 crore
- Meeting obligations under various letters of credit
- Remaining capital: General corporate purposes
A consortium of financial institutions will facilitate the IPO process. These include ICICI Securities, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets (India), SBI Capital Markets, and IIFL Capital Services.
Company Profile
Incorporated in 2021, Avaada Electro specializes in manufacturing solar cells and modules. The company markets these products under its proprietary brands, Enlume and Integlow.