The Rayzon Solar IPO began on 2025. It will close on 2025. The Total IPO Size is – Crores. The company set its IPO price at – Rs Per Share.
There are three basic categories in Rayzon Solar IPO Subscription: 1) Qualified Institutional Buyers, 2) Non-Institutional Investors, and 3) Retail.
Rayzon Solar 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, 2025.
Their product portfolio includes (i) bifacial (dual glass or glass to glass) modules with N-type TOPCon cells and P-type Mono Passivated Emitter and Rear Contact (“Mono PERC”) cells, (ii) bifacial (glass to transparent backsheet) modules with Mono PERC cells, (iii) monofacial (single glass to white back sheet / black back sheet) modules with Mono PERC cells, (iv) a full black variant of bifacial modules with TOPCon cells, and (v) a full black variant of bifacial and monofacial (glass to glass and glass to transparent backsheet) modules with Mono PERC cells.
They manufacture their 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 and in the process of adding an additional module manufacturing capacity of 2.00 GW at their facility in Sava in Mangrol, Surat, Gujarat, which is expected to be operational by October 2025.
They 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.
Rayzon Solar IPO (Object of the Issue)
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 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 And Dkn Family Trust are Promoters of the company.
Rayzon Solar IPO Date, Details & Price Band
The Rayzon Solar IPO Price Band, IPO Dates, Market lot and other details mentioned in the table below.
| IPO Opening Dates | 2025 |
| IPO Closing Dates | 2025 |
| Price | NA |
| Fresh Issue | 1,500 Crores |
| Offer for sale | NIL |
| Total IPO size | 1,500 Crores |
| Face Value | 2 INR Per Share |
| Issue Type | Book Built Issue |
| QIB Allocation | 50% |
| HNI Allocation | 15% |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Rayzon Solar IPO Market Lot
The Rayzon Solar IPO minimum market lot is – shares with a – ₹ Amount per application.
| Lot | No of Shares | Amount | |
| Retail Minimum | – | – | – ₹ |
| Retail Maximum | – | – | – ₹ |
| S-HNI Minimum | – | – | – ₹ |
| S-HNI Maximum | – | – | – ₹ |
| B-HNI Minimum | – | – | – ₹ |
Restated Consolidated Financial Information (Amt. in Crore)
| Total Assets | Total Revenue | Profit After Tax | |
| 30-Mar-25 | – | – | – |
| 31-Mar-24 | 352.80 | 1,275.38 | 60.94 |
| 31-Mar-23 | 138.20 | 698.19 | 25.48 |
| 31-Mar-22 | 111.19 | 265.39 | 3.91 |
Rayzon Solar IPO GMP & Grey Market Premium
The Rayzon Solar IPO GMP (Grey Market Premium) has started today. Check the Latest Rayzon Solar IPO GMP, Kostak Rates, and Subject to Sauda Price here.
Rayzon Solar IPO Prospectus
The Rayzon Solar IPO Prospectus is Available on the NSE/BSE and SEBI websites, as well as on our Portal. Please click here to download the Rayzon Solar IPO Prospectus.
| DRHP | Download |
| RHP | Download |
| Anchor Investor List | Download |
Rayzon Solar IPO Allotment Date & Details
| Allotment Date | 2025 |
| Initiation of refunds | 2025 |
| Transfer of shares to Demat accounts | 2025 |
| Listing Date | 2025 |
| Check Allotment Status | Click here |
Registrar of Rayzon Solar
KFin Technologies Limited
301, The Centrium
3rd Floor, 57
Lal Bahadur Shastri Road
Nav Pada, Kurla (West), Kurla
Mumbai 400 070
Maharashtra, India
Tel: +91 40 6716 2222/18003094001
E-mail: [email protected]
Investor Grievance Email: [email protected]
Website: www.kfintech.com
Contact Person: M. Murali Krishna
SEBI Registration No.: INR000000221
Rayzon Solar Contact Details
Rayzon Solar Ltd.
1104 – 1107 & 1109 – 1110, 11th Floor,
Millennium Business Hub, Opp. Deep Kamal Mall,
Varachha Road, Sarthana Jakatnaka,
Surat, Gujarat, 395006
Phone: +91-9898089173
Email: [email protected]
Website: https://rayzonsolar.com/
Rayzon Solar IPO Lead Managers
SBI Capital Markets Limited
1501, 15th Floor, A & B Wing
Parinee Crescenzo building
G-Block Bandra Kurla Complex
Bandra (East)
Mumbai 400 051
Maharashtra, India
Telephone: +91 22 4006 9807
E-mail: [email protected]
Investor Grievance ID: [email protected]
Website: www.sbicaps.com
Contact person: Sylvia Mendonca / Krithika Shetty
SEBI Registration No.: INM000003531
Ambit Private Limited
Ambit House, 449, Senapati Bapat Marg
Lower Parel, Mumbai 400 013
Maharashtra, India
Telephone: +91 22 6623 3030
E-mail: [email protected]
Investor Grievance ID: [email protected]
Website: www.ambit.co
Contact person: Devanshi Shah / Nitya Chandak
SEBI Registration No.: INM000010585
IIFL Capital Services Limited (formerly known as IIFL
Securities Limited)
24th Floor, One Lodha Place
Senapati Bapat Marg
Lower Parel (W)
Mumbai 400 013
Maharashtra, India
Telephone: +91 22 4646 4728
E-mail: [email protected]
Investor Grievance ID: [email protected]
Website: https://www.iiflcap.com/
Contact person: Dhruv Bhavsar / Pawan Kuman Jain
SEBI Registration No.: INM000010940
