Gautam Solar Plans to Launch IPO in Next 12 to 18 Months
Gautam Solar plans to increase its solar module manufacturing capacity to 5 GW by 2025 in three phases. The company also has plans to set up a 2 GW solar cell line with investment to the tune of INR 1,000 crore which the company intends to raise through an IPO to be launched in the next 12-18 months.
October 14, 2024. By Mrinmoy Dey
In addition, the company has outlined an INR 1,000 crore cell expansion plan, with further growth funded through an Initial Public Offering (IPO), anticipated in the next 12-18 months. The IPO will drive the company’s growth by setting up a 2 GW solar cell manufacturing plant to bolster solar module production and achieve the 5 GW target within the stipulated time.
Sharing his views about the expansion plan, Gautam Mohanka, Managing Director of Gautam Solar, said, “As India targets achieving 500 GW of renewable energy by 2030, our expansion to 5 GW of solar module manufacturing capacity by 2025 is a vital step towards contributing to this national goal. Currently, India’s solar energy capacity stands at around 70 GW, and with this expansion, Gautam Solar will account for nearly 5-7 percent of the country’s total capacity.”
He further added, “Our INR 1,000 crore cell expansion plan, which will be funded through an upcoming IPO, will further position us as a leader in solar technology. This initiative is not just about scaling up – it's about driving innovation, creating new jobs, and offering solar products specifically designed to meet India’s unique environmental and economic needs.”
By strengthening its domestic production of solar components, Gautam Solar reinforces its commitment to the 'Vocal for Local' and 'Make in India' missions, supporting India's economic growth and energy independence.
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