Avaada Electro Plans $800 Million Indian Public Offering

Avaada Electro Ltd., the solar manufacturing division of Avaada Group, plans to file for an initial public offering in India to raise up to $800 million. The offering will primarily consist of new shares, supplemented by a secondary sale of shares from existing investors.

Backed by Brookfield Renewable Partners, the company has appointed a consortium of managers for the sale, including ICICI Securities Ltd., Axis Capital Ltd., HSBC Holdings Plc, IIFL Capital Services Ltd., and Bank of America Corp. This public filing follows a confidential draft submission in October 2025 and subsequent regulatory approval received in April 2026.

The company currently maintains 8.5 gigawatts of solar-cell manufacturing capacity across facilities in Nagpur and Dadri. Avaada Electro intends to use its growth trajectory to expand total module capacity to 13.6 gigawatts.