Asia Bizz: Indosolar’s IPO Raise Rs 357-cr and Will Open on September 13th

Indosolar Limited that manufacture Solar photo-voltaic cell said that they have planned to raise around Indian Rs 357-crore with the help of an IPO which will open on the 13 of September.

Indosolar Limited

Indosolar’s Managing Director, H R Gupta stated,

“The proceeds will be used to expand into our third manufacturing line of solar cells of 100 MW. This should be ready within a year,”

Indolsolar has planned the price band of the somewhere around Rs 29 and Rs 32 for each equity share.

As for now the company has a capacity to annually manufacture around 160 MW in capacity, with just two SPV cell-manufacturing lines.

H R Gupta, went on further to say that,

“However, given the immense growth potential in India, the mix will shift predominantly to the domestic market with around 75 per cent revenue to come from here and the balance from overseas markets in the next one-year.”