Saatvik Solar to raise ₹1,000 crore for expansion, plans IPO Published 4 months ago By SuperAdmin Saatvik Solar currently has a module production capacity of 1.8 GW, which is projected to increase to 3.8 GW by November. The planned investment of ₹2,200 crore over the next two years is expected to further enhance the company's module-making capacity to 7.8 GW and cell manufacturing capacity to 2 GW.New Delhi: In a strategic move to expand its operational capabilities, Saatvik Solar has announced plans to raise ₹1,000 crore through private equity within this fiscal year and is preparing for an initial public offering in the upcoming years.Addressing a press conference, Group Chief Financial Officer, Abani Kant Jha said, "The funds raised through private equity will help finance the equity part of the planned capital expenditure of ₹2,200 crore." This capital expenditure is aimed at significantly expanding the company’s production capacities.Saatvik Solar currently has a module production capacity of 1.8 GW, which is projected to increase to 3.8 GW by November. The planned investment of ₹2,200 crore over the next two years is expected to further enhance the company's module-making capacity to 7.8 GW and cell manufacturing capacity to 2 GW.Jha added, "We are aiming for almost 100 per cent growth in our revenue to ₹2,000 crore in the current fiscal year." By FY2026, Saatvik Solar aims to achieve 2 GW in cell manufacturing and 6 GW in module production.The company is also aiming to capture a market share of 7%-10% in India by FY2026, as it continues to solidify its position in the solar industry. Plans are underway to explore expansion into southern India and to assess EPC participation in green hydrogen projects.
