INA Solar Secures INR 402 Crore Through Preferential Allotment of Equity Shares
Insolation Energy Ltd. (INA Solar) has raised INR 402 crore from investors through preferential allotment of equity shares.
October 17, 2024. By Mrinmoy Dey
The company’s Chairman Manish Gupta and Managing Director Vikas Jain expressed their gratitude, highlighting that since its inception in 2017, Insolation Energy Ltd. has established Rajasthan’s largest solar panel manufacturing facility.
With the new upcoming facility of 3 GW in Jaipur, INA Solar aims to be one of the largest solar panel manufacturers in India with 4 GW solar module capacity. By March 2025, the company expect to make the module capacity operational, in addition to setting up a 12,000 MT Aluminium frame manufacturing unit.
By March 2026, INA Solar plans to establish a 1.5 GW solar cell manufacturing facility – the necessary technology tie-ups for which, have been done.
“In our next phase of expansion, we envision going to 6.5 GW of operative solar module and 3 GW of solar cell manufacturing capacity in the next 3 years. We aspire to cross USD 1 billion in revenue with 10 percent+ PAT margins in the next 3 years,” the company shared in a regulatory filing.
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