Rayzon Solar IPO is fully book build issue and total IPO size is ₹1500.00 crores. The entire share offering is a fresh issue worth ₹1500.00 crores.
The dates for the Rayzon Solar IPO have not been announced yet. The allotment process is expected to be finalized by [.].
The Rayzon Solar IPO is scheduled to list on BSE, NSE, with a listing date of [.]. The price band for the Rayzon Solar IPO has not been announced yet.
Registrar for this IPO is Kfin Technologies Limited and lead managers for Rayzon Solar IPO are Sbi Capital Markets Limited, Ambit Private Limited, Iifl Capital Services Limited.
Explore more upcoming IPOs in India for comparison and investment planning.
IPO Schedule
| IPO Open Date | - |
|---|---|
| IPO Close Date | - |
| IPO Allotment Date | - |
| Refund Initiation | - |
| Share credit in Demat | - |
| Listing Date | - |
Key Details
| Price Band | TBA |
|---|---|
| Lot Size | TBA |
| Face Value | ₹2 Per Equity Share |
| Total Issue Size | - |
| Fresh Issue | ₹1,500.00 Crores |
| Issue Type | Fresh Issue |
| Listing At | BSE, NSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 0% |
| Retail | 35% |
| NII/HNI | 15% |
About Rayzon Solar Limited Company
Several major players are shaping India's solar PV module manufacturing landscape. Waaree Energies leads with an impressive order book of ₹47,000 crore and a module capacity of 15 GW. Goldi Solar follows with a ₹6,819 crore order book and 10.7 GW capacity. Vikram Solar, an established player, had a capacity of 3.5 GW in Fiscal 2024. Rayzon Solar boasts a ₹4,652 crore order book and 6 GW capacity. Emmvee Photovoltaic has a 4.25 GW capacity, while Saatvik Green Energy offers 1.5 GW capacity and an order book of ₹5,994 crore. Solex Energy stands at 1.5 GW capacity and Premier Energies at 5.1 GW capacity with a ₹8,446 crore order book.
Rayzon Solar Limited, with a 6 GW installed capacity, has seen revenue grow significantly, with a FA turnover ratio of 16.83 times and 82% on-year revenue growth in Fiscal 2024. Key products include solar PV modules utilizing Mono PERC and TOPCon technologies. Challenges in the industry include reliance on government policies, import dependency for wafers and polysilicon, and rapid technological advancements.
Rayzon Solar Limited Financial Details
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 996.98 | 352.80 | 138.20 | 111.19 |
| Revenue | 196.40 | 127.54 | 69.82 | 26.54 |
| Profit After Tax | 239.03 | 60.94 | 25.48 | 3.91 |
| Net Worth | 326.09 | 87.20 | 26.34 | 14.46 |
| Reserves and Surplus | 323.08 | 84.20 | 23.34 | 14.45 |
| Total Borrowing | 172.62 | 102.88 | 54.87 | 45.94 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 2.03 | 69.79 | 2.91 |
Offer Objectives
The document outlines the details of major shareholders, capital structure, ESOP plan, and the objects of the fresh issue. Major shareholders holding more than 1% of the pre-issue equity share capital are listed, including Ashokbhai Manjibhai Kothiya, Devchandbhai Kalubhai Nakrani, Induben Devchandbhai Nakrani, Ramilaben Ashokbhai Kothiya, Chirag Devchandbhai Nakrani, Hardik Ashokbhai Kothiya, and the AMK & DKN Family Trusts.
The company's capital structure will not be altered for six months post-issue, except for ESOP options. There are no outstanding convertible securities, except for ESOP options.
ESOP Plan: The company has an ESOP plan (Rayzon Employee Stock Option Plan 2025) and has granted 1,029,830 stock options.
Objects of the Issue: The company plans a fresh issue of equity shares aggregating up to ₹150 crore. Net proceeds will be used for:
- Investment of ₹126.50 crore in wholly-owned subsidiary, Rayzon Energy Private Limited, for part-financing a 3.5 GW solar cell manufacturing facility.
- General corporate purposes, not exceeding 25% of gross proceeds.
Pre-IPO placement may reduce the fresh issue size. The project cost vetter is Dun & Bradstreet and the chartered engineer is Mokani Kruti N. ₹18.41 million has already been deployed by REPL towards the mentioned object.
Company Details
Address:
1104 - 1107 & 1109 - 1110, 11th Floor, Millennium Business Hub, Opp. Deep Kamal Mall, Varachha Road, Sarthana Jakatnaka, Surat City, Surat 395006, Gujarat, India
Phone: +91-9898089173
Email: [email protected]
Website: https://rayzonsolar.com/
IPO Registrar Details
KFin Technologies Limited
Phone: +91 40 6716 2222, 18003094001
Email: [email protected]
Website: http://www.kfintech.com
Offer Prospectus & Documents
Lead Managers
- SBI Capital Markets Limited
- Ambit Private Limited
- IIFL Capital Services Limited
