Cosmic PV Power IPO | The public issue will be a combination of fresh issuance of equity shares worth Rs 540 crore, and an offer-for-sale of Rs 100 crore worth shares by 10 existing shareholders including promoters, and investors.

Solar panel maker Cosmic PV Power plans Rs 640-crore IPO, files draft papers with SEBI

Gujarat-based solar panel maker Cosmic PV Power has filed preliminary papers with Securities and Exchange Board of India on March 30 as it plans to raise Rs 640 crore via initial share sale.

The IPO will be a combination of fresh issuance of equity shares worth Rs 540 crore, and an offer-for-sale of Rs 100 crore worth shares by 10 existing shareholders including promoters, and investors.

Amongst them, Jenishkumar Deepakkumar Ghael, Chanakya Opportunities Fund, RPV Holdings, and Shubhalakshmi Polyesters are some of the selling shareholders in the offer-for-sale.

Also, the company may consider raising funds up to Rs 108 crore in pre-IPO round, i.e. before the launch of initial public offering (IPO). This is a part of fresh issue component.

With operations across three business verticals - solar PV modules, EPC services, aluminium frames, Cosmic PV Power commenced manufacturing operations in 2021 with installed solar photo-voltaic modules capacity of 100 MW which expanded to 3.00 GW, per annum, as of March 30, 2026.

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The company proposed to utilise Rs 497.1 crore of proceeds from fresh issue for setting up of new manufacturing facility in Narmadapuram, Madhya Pradesh, and the remaining amount for general corporate purposes.

Currently, it maintains two automated manufacturing facilities in Surat, Gujarat with capabilities to manufacture solar PV modules ranging from 420WP to 750 WP with a capacity of 3.0 GW.

Cosmic PV Power competes with peers like Waaree Energies, Premier Energies, Vikram Solar, Emmvee Photovoltaic Power, and Solex Energy which all listed in the last one-and-half-year period.

The financial performance of the company in the past years has been strong with profit of Rs 12.8 crore and revenue of Rs 181.6 crore for six months period ended September 2025.

Further, profit in the financial year 2024-25 increased nearly four-fold to Rs 24.4 crore from Rs 6.5 crore in previous year. Revenue during the same period spiked 2.5-fold to Rs 245.1 crore from Rs 99.9 crore.

Systematix Corporate Services, and Valmiki Leela Capital are appointed as the book running lead managers for the Cosmic PV Power IPO.