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Onix Renewable eyes ₹1K cr IPO, valuation likely to touch ₹10K cr
Business Standard
|March 03, 2025
Onix Renewable, a Gujarat-based renewable energy and solar module manufacturing company, is set to raise ₹1,000 crore through an initial public offering (IPO) by July, targeting a valuation of ₹10,000 crore, according to a senior company executive.
The company, which began as a transmission and distribution contractor in 2007, has expanded into solar module manufacturing and Independent Power Production (IPP).
It currently operates an Engineering Procurement and Construction (EPC) portfolio exceeding 1,200 megawatt (MW), and 2,525 MW of IPP projects, mainly under the PM-KUSUM scheme.
The IPO proceeds will be used to finance equity investments in IPP projects and provide working capital for its EPC business, Hardik Adhiya, chief operating officer (COO), Onix Renewable, told Business Standard.
Dit verhaal komt uit de March 03, 2025-editie van Business Standard.
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