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Rayzon Solar Ltd. IPO Details

Initial Public Offerings (IPOs) allow you to invest in companies going public. Rayzon Solar Ltd. goes public when it first sells its shares after being listed on BSE or NSE.

Rayzon Solar Ltd.
Objective
1. Investment in our wholly owned Subsidiary, Rayzon Energy Private Limited (“REPL”), for part financing the cost of establishing the manufacturing facility with
3.5 GW installed capacity, to produce solar cells using TOPCon technology (the “Project”), at RS No. 198, 197, 199/002, 196/002, Kathvada, Mangrol, Surat, 394 405, Gujarat, India (collectively, the “Project Site”)
2. General corporate purposes
IPO Details
Face Value ₹ 2.00 Per Share
Issue Size ₹ 0.00 - 0.00 Cr
Price Band ₹ 0.00 - ₹ 0.00 Per Share
Issue Type Book building
Business Description
We are among the top 10 manufacturers of solar photovoltaic (“PV”) modules in India, with an installed capacity of 6.00 GW as of March 31, 2

...

025. (Source: CRISIL Report) We are a certified manufacturer under the Ministry of New and Renewable Energy’s Approved List of Module Manufacturers (“ALMM”), with an enlisted capacity of 3.00 GW, constituting 3.8% of the total ALMM enlisted capacity as of April 21, 2025. (Source: CRISIL Report) We manufacture our solar PV modules at our two manufacturing facilities located in Karanj and Sava in Surat, Gujarat, India, each with an existing solar PV module manufacturing installed capacity of 3.00 GW. We are in the process of adding an additional module manufacturing capacity of 2.00 GW at our facility in Sava in Mangrol, Surat, Gujarat, which is expected to be operational by October 2025. Through our Subsidiary, Rayzon Energy Private Limited, we are in the process of establishing a 3.50 GW solar cell manufacturing unit in Kathvada in Mangrol, Surat, Gujarat using tunnel oxide passivated contact (“TOPCon”) technology, which is expected to become operational in Fiscal 2027. We are also in the process of establishing an aluminium extrusion and anodizing manufacturing unit in Sava in Mangrol, Surat, Gujarat with a capacity of 19,800 MT per annum for the manufacturing of aluminium frames through our Subsidiary, Rayzon Industries Private Limited, which is expected to become operational in July 2025. Read More
Address
Address 1104 - 1107 & 1109 - 1110, 11th Floor Millennium Business Hub Opp. Deep Kamal Mall Varachha Road Sarthana Jakatnaka Surat City
City Surat
State Gujarat
Pincode 395006
Phone 9898089173
Email ir@rayzonenergies.com
Website https://rayzonsolar.com/
About IPO
Listed At NSE
Lead Manager IIFL Capital Services Ltd.
Promoters
Hardik Ashokbhai Kothiya
Chirag Devchandbhai Nakrani
Ashokbhai Manjibhai Kothiya
Devchandbhai Kalubhai Nakrani
Ramilaben Ashokbhai Kothiya
Induben Devchandbhai Nakrani
AMK Family Trust
CDN Family Trust
ADN Family Trust
DKN Family Trust
Registrar

K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.)

040 - 67162222/18003094001
einward.ris@kfintech.com
www.kfintech.com
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Frequently asked questions

What is an IPO?

An Initial Public Offering (IPO) is when a private company sells shares to the public for the first time, enabling investors to purchase these shares and gain partial ownership in the business. For instance, if a well-known tech firm wants to grow and requires additional funds, it might choose to go public through an IPO. During this process, investors can buy shares, and the company’s stock starts trading on the stock exchange on the day of the IPO listing.

Investors can apply for an IPO through their bank or brokerage account. Many trading platforms have a specific section for IPOs where users can submit their applications online.

The primary market is where shares are offered to the public for the first time via an IPO. After the IPO, shares are traded on the secondary market (stock exchange), where existing shareholders can sell to new buyers.

Investing in an IPO offers the opportunity to become an early investor in companies with high growth potential, at a price which may be lower than their post-listing market value. It provides a chance to participate in the company's growth journey from its early stages. However, IPO investments also come with inherent risks, such as market volatility and uncertainties about the company's future performance.

The price of an IPO is established through a systematic process known as "book building." In this method, investors bid within a given price range, and the final price is set based on demand and market conditions. Several factors play a crucial role in determining the IPO price, including:

  • Past Financial Performance: Evaluating the company's revenue, profits, and financial stability over time
  • Growth Potential: Assessing future prospects based on the company's business model and market opportunities
  • Industry Peers: Comparing valuation metrics with similar companies in the same sector
  • Larger Industry Picture: Analysing overall industry trends and economic conditions that could impact the company's performance

The lock-in period for IPO shares refers to a duration during which specific investors are restricted from selling their shares post-listing. This period varies based on the type of investor:

  • Promoters: The lock-in period for promoters ranges from 6 months to 18 months, ensuring their commitment to the company's long-term growth
  • Anchor Investors: Typically, anchor investors face a shorter lock-in period of 30 to 90 days, depending on regulatory norms and the specific IPO

IPOs can be volatile and may not perform as expected in the short term. Investors risk losing capital if the stock price drops after listing, especially if the company does not meet its growth projections.

Information on upcoming IPOs is often available through brokerage platforms, financial news sites, and regulatory bodies like SEBI, which publishes details on companies going public. You can also get these details under the upcoming IPO section on Bajaj Markets.

Eligibility for an IPO typically includes:

  • Retail Investors: Individuals who invest in smaller amounts, usually under the “retail investor” category, with certain limits
  • Qualified Institutional Buyers (QIBs): Entities like mutual funds, banks, and insurance companies, who invest large sums
  • Non-Institutional Investors (NIIs): High-net-worth individuals or entities investing above the retail threshold

Investors must have a Demat and trading account to apply, and in some cases, certain financial or residency qualifications may apply depending on local regulations.

SME (Small and Medium Enterprise) IPOs generally carry higher risk but may provide significant growth potential. Investors should research the company’s stability, financials, and sector risks, as SME stocks can be more volatile compared to large-cap companies.

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Disclaimer

This content is for educational purpose only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.

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