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

Goldi Solar To Consider IPO To Raise Up To $350 Million Amid Renewable Energy Boom

Goldi Solar Weighs $350 Million IPO as India's Renewable Energy Listings Revive

According to sources, Goldi Solar Pvt. is exploring an initial public offering (IPO) that could potentially raise up to $350 million, further boosting the trend of listing among India's renewable-energy companies.

Key IPO Details

Goldi Solar has shortlisted advisers for the proposed share sale and may file a draft prospectus as early as April.
The offering is expected to comprise mostly fresh shares, with a small component from existing investors, and could take place this year.
Details including the size, structure, and timing of the deal are still being finalized and may change.

India's Green Energy Industry Sees Growth

India's green energy industry is poised to contribute significantly to the country's equity capital market, following last year's record for IPO proceeds.

India aims to increase 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 over $4 billion.

About Goldi Solar

Goldi Solar, one of India's largest solar photovoltaic module manufacturers, was founded in 2011 and has an annual production capacity of approximately 14.7 gigawatts.

In October 2022, Goldi Solar announced a capital infusion of 14.22 billion rupees ($157 million), with investors including Havells India Ltd., Zerodha co-founder Nikhil Kamath, and Ambit Global Private Client.