Price Band at 206-217 Rupees Targets 2,900 Crore Rupee Raise, as PLI Scheme Fuels 40 Times P/E Valuation.
The photovoltaic manufacturer's public offering, aiming 2,900 crore rupees, achieved 9% subscription initially, with a 206-217 rupee band and GMP at 20 rupees signaling 9% gains. The November 11-13 bid period funds 55 billion rupee expansions for 3 gigawatts annual capacity.
This injects momentum into Nifty Energy, up 1%, as India's solar installations hit 20 gigawatts yearly, capturing 15% domestic share. FY25 revenues grew 25% to 2,000 crore rupees, with margins at 18% from backward integration.
Policy via Production Linked Incentive allocates 24,000 crore rupees, targeting 50% localization by 2027 and adding 1% to green GDP. Consumer adoption surges 30% in rooftop segments, driven by 40% subsidies.
Innovation in bifacial modules boosts efficiency 22%, eyeing 500 megawatt exports. Economically, the IPO supports 10,000 jobs in Tamil Nadu hubs, within a 100 billion dollar renewable chain. Listing November 18 eyes 240 rupees, amid 20% sector growth.
