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16.Oct.2024

INA Solar Achieves Record-Breaking Rs 402 Crore Through Preferential Allotment of Equity Shares

Insolation Energy Limited (INA Solar), one of India’s leading solar panel manufacturers, has successfully raised an impressive Rs 402 crore through its latest preferential allotment of equity shares. This monumental achievement, a testament to the unwavering trust of its stakeholders and investors, further cements INA Solar’s leadership position in the renewable energy industry. With a staggering more than 1000% return since its IPO issue price of Rs 38—now surging to more than Rs 3,900 per share—INA Solar continues to demonstrate exceptional growth and investor confidence.

Chairman Manish Gupta and Managing Director Vikas Jain expressed their heartfelt gratitude to the investor community for their overwhelming response. The Rs 402 crore preferential allotment marks the highest-ever fund raised in this category, underlining the market’s confidence in the company’s strategic direction.

INA Solar is embarking on an ambitious expansion plan to meet India’s growing renewable energy needs. The company’s upcoming 3GW solar module manufacturing facility in Jaipur will soon elevate INA to one of the largest solar panel manufacturers in the country, with a total module capacity of 4GW expected to be operational by March 2025. In parallel, the company is setting up a 12,000 MT aluminum frame manufacturing unit, aligning with its commitment to innovation and sustainability.

Looking further ahead, by March 2026, INA Solar plans to launch a cutting-edge 1.5GW solar cell manufacturing facility, consolidating its position as a dominant force in India’s green energy revolution.

With robust expansion plans and increasing manufacturing capabilities, INA Solar remains dedicated to strengthening India’s energy independence and advancing the Make in India initiative. The company’s sustained growth trajectory is a clear reflection of the strong investor confidence and its unwavering commitment to driving sustainable progress across the nation.

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