Make in India: Solar companies prepare IPOs

11 Aug 2021 CW Team

Solar panel manufacturers Vikram Solar and Waaree Energies have appointed investment banks for their respective initial public offerings (IPOs) as the firms look to develop business riding the drive for local manufacturing.

Both the firms, Vikram Solar and Waaree Energies, aim to raise about Rs 1,500 crore each.

Vikram Solar has hired JM Financial and has begun working on its IPO while Waaree Energies has hired Axis Capital and ICICI Securities for its IPO, one of the three people told the media. While both firms aim to raise capital to fund improving their manufacturing capacities, in the case of Vikram Solar, a substantial part of the profits will move towards decreasing its debt. Waaree Energies practically is debt-free currently.

There is a strong government push to increase domestic manufacturing of solar panels, given the huge capacities that India aims to establish in the coming years, and so far, there has been a huge dependence on imports of solar panels, notably from China. The government’s goals to bring in high duties on imports of cells and solar panels is a big boost for domestic manufacturers, the second person mentioned above said.

India is running the world’s largest clean energy programme to reach 175 GW of renewable capacity, comprising 100GW of solar power by 2022. As per the Central Electricity Authority, by 2030, the country’s power demand would reach 817 GW, more than half of which would be clean energy; of this, 280 GW would be from solar energy alone.

To accomplish the aim of 280 GW, about 25 GW of solar power capacity is required to be established every year till 2030.

Image Source

Also read: Lucknow Smart City floats tender for 8.5 MW rooftop solar systems

Also read: Mitsui to invest Rs 30 cr in biomass supply-chain firm in India

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..