Loom Solar, a leading rooftop and distributed solar company, is preparing to file for an Initial Public Offering (IPO) by FY27, with an estimated issue size of around Rs 10 billion. Founded by brothers Amod and Amol Anand, the company plans to utilise the proceeds to expand its manufacturing capacity and foray into the battery energy storage segment.

Speaking to BW Businessworld, Co-founder and Director Amod Anand said, “We are preparing for a larger IPO size of about Rs 10 billion and are currently targeting FY27.”

Recounting the company’s modest beginnings, Anand shared that Loom Solar’s journey started in Sitamarhi, Bihar. “We had no capital when we began. For nearly a decade, we worked with companies such as Reliance and Airtel before deciding to start something of our own,” he said. The idea materialised in 2016–17, coinciding with the rise of India’s startup ecosystem.

The founders identified solar energy as a scalable sector with low entry barriers. “At that time, solar was largely government-driven and not accessible to retail customers. We began with small solar panels of 10W, 20W, and 50W for street vendors and households — products that were unavailable to retail buyers,” Anand explained.

Loom Solar initially operated entirely online through e-commerce platforms such as Amazon. Its focus on rural and semi-urban markets, coupled with tailored product offerings, helped it establish an early foothold. “We started from Bihar and Uttar Pradesh because we understood the people, their needs, and their language. Even today, around 50 per cent of our business comes from UP and Bihar,” Anand noted.

The company began by outsourcing its manufacturing but later set up its own facility after building a strong customer base. Loom Solar now produces solar panels and inverters and is expanding its Mathura-based plant in Uttar Pradesh to a capacity of 1.2 gigawatts (GW). “We started with monocrystalline technology, upgraded to TOPCon, and are now moving towards heterojunction (HJT) technology,” Anand said.

The company’s planned IPO and upcoming technological upgrades mark a significant milestone in its journey from a small startup in Bihar to one of India’s most promising solar innovators.