Gautam Adani-promoted solar components maker Vishakha Renewables has filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India (Sebi) to launch an initial public offering (IPO) The proposed issue will comprise a fresh issue of 1,250 crore and an offer-for-sale (OFS) of 1.81 crore shares. The company plans to use, 900 crore from the fresh proceeds to repay debt, against outstanding borrowings. The remaining proceeds will be used for general corporate purposes. Proceeds from the OFS will accrue to selling shareholders.
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Vishakha Renewables files IPO papers, eyes Rs 1,250 crore
Vishakha Renewables, a company founded by Gautam Adani that specializes in solar components, has submitted its Draft Red Herring Prospectus. The firm aims to secure ₹1,250 crore through an initial public offering, designated for debt repayment and other corporate needs. A portion, ₹900 crore, will specifically address current borrowings. The IPO also includes an offer-for-sale of 1.81 crore…
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- The Economic Times
- Published
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- 101 words · 1 min
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This story was reported and first published by The Economic Times on 1 October 2026. HUE Legacy Ventures did not write it.
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