Green-energy firm Avaada Electro files confidential draft prospectus for ₹9-10 k crore IPO

Avaada Electro, the solar-module subsidiary of Brookfield-backed Avaada Group, has filed a confidential draft prospectus with SEBI as it plans a large IPO in India. Industry sources indicate the size may range between ₹9,000-10,000 crore, making it one of the biggest solar-module listings in India’s history. The firm currently has 8.5 GW module production capacity with plans to expand to 13.6 GW by FY27. Capital from the IPO will be used to scale up manufacturing at its Butibori facility near Nagpur and increase solar-cell capacity to 12 GW.