Onix Renewable, a Gujarat-based renewable energy and solar module manufacturing company, is set to raise Rs 1,000 crore through an initial public offering (IPO) by July, targeting a valuation of Rs 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 EPC (engineering, procurement, and construction) portfolio exceeding 1,200 MW (megawatt) and 2,525 MW of IPP projects, mainly under the PM-Kusum scheme.
Onix Renewable, a rapidly growing player in India’s renewable energy sector, is gearing up for a massive public offering. The company has announced its plans to launch an Initial Public Offering (IPO) worth ₹1,000 crore, targeting an ambitious valuation of ₹10,000 crore. This move marks a significant step in Onix Renewable’s expansion strategy, reinforcing its commitment to sustainable energy solutions.
IPO Details and Market Strategy
Onix Renewable’s upcoming IPO is expected to attract substantial investor interest, given the increasing focus on green energy and sustainable investments. The funds raised from the IPO will be utilized for business expansion, infrastructure development, and enhancing renewable energy projects across India.
- IPO Size: ₹1,000 crore
- Target Valuation: ₹10,000 crore
- Sector: Renewable Energy
- Use of Funds: Expansion, technology upgrades, and new project developments
The company aims to strengthen its portfolio of solar, wind, and hybrid energy solutions, ensuring a sustainable and profitable future.
Growth Potential in the Renewable Energy Sector
India’s renewable energy market has been witnessing rapid growth, with government policies and global climate goals pushing for increased adoption of green energy. Onix Renewable’s decision to go public aligns with the rising demand for clean energy and the push toward carbon neutrality.
Investor Outlook and Market Impact
The IPO is expected to generate significant interest from institutional and retail investors. The renewable energy sector remains a key focus area for both domestic and international investors, given its long-term growth prospects.
Key factors influencing investor interest:
Potential for high returns in the sustainable energy sector
Strong government policies promoting renewable energy
Increasing adoption of solar and wind power
Rising demand for ESG (Environmental, Social, and Governance) investments
