Goldi Solar plans $350 million IPO

Goldi Solar Pvt is weighing an initial public offering that could raise as much as $350 million, according to people familiar with the matter, potentially adding to a revival in listings among India’s renewable-energy companies. The Gujarat-based solar module maker has shortlisted advisers for the proposed share sale and is likely to file a draft prospectus as early as April, the people said, asking not to be identified because the information is private. The offering is expected to comprise largely fresh shares, with a small secondary component from existing investors, and could take place this year, the people said. Details including the size, structure and timing of the deal are still being finalised and may change, they added. A representative for Goldi Solar didn’t respond to requests for comment. The green energy industry is shaping up as a key contributor to another banner year for India’s equity capital market after last year’s record for IPO proceeds, driven by the country’s goal of increasing non-fossil fuel power capacity to 500 gigawatts by 2030. More than a dozen green-energy firms are preparing to go public, targeting combined proceeds of more than $4 billion. Clean Max Enviro Energy Solutions Ltd is among companies expected to launch a share sale later this month. Founded in 2011, Goldi Solar is one of India’s largest solar photovoltaic module manufacturers, with annual production capacity of about 14.7 gigawatts, according to the company website. In October, it announced a capital infusion of ₹1,422 crore ($157 million). Investors in that round included Havells India Ltd, Zerodha co-founder Nikhil Kamath and Ambit Global Private Client. More stories like this are available on bloomberg.com Published on February 11, 2026