Goldi Solar raises Rs 14.22 billion funding led by Havells

31 Oct 2025 CW Team

In a statement, the Gujarat-based solar module manufacturer said the capital infusion will fuel its next phase of growth, focusing on manufacturing expansion, backward integration, and technological innovation.

The round saw participation from prominent investors including Ambit Global Private Client, Nikhil Kamath, Shahi Exports Pvt Ltd, SRF Transnational Holdings Ltd, Karmav Real Estate Holdings LLP, NSFO Ventures LLP, and Godwitt Construction Pvt Ltd.

According to market sources, Havells invested around Rs 6 billion, while Zerodha co-founder Nikhil Kamath contributed approximately Rs 1.4 billion. A few Indian sportspersons also joined the round, highlighting the growing interest in clean energy ventures.

“These value-aligned investors are among India’s most forward-thinking capital providers and bring deep expertise in sustainable growth initiatives,” Goldi Solar said in its release.

The investment process was advised by SBI Capital Markets Ltd, with Saraf and Partners serving as legal counsel, ensuring strategic oversight and governance.

The fresh funding will help Goldi Solar expand its solar module production capacity, strengthen backward integration through solar cell manufacturing, and boost research into high-efficiency technologies. It will also support the company’s go-to-market initiatives and export expansion.

Founder and Managing Director Ishver Dholakiya said, “With the backing of partners like Havells and other esteemed investors, we are empowered to scale new heights in solar manufacturing and innovation. Together, we will drive the next wave of growth, setting new benchmarks in governance, sustainability, and performance.”

The Surat-based company has expanded its solar PV module manufacturing capacity from 3 GW to 14.7 GW in the past year and is developing a 1.2 GW solar cell manufacturing facility in Gujarat.

Renewable energy firm Goldi Solar has raised over Rs 14.22 billion in a landmark funding round led by Havells India Ltd, with participation from several high-net-worth individuals (HNIs), institutional, and strategic investors. In a statement, the Gujarat-based solar module manufacturer said the capital infusion will fuel its next phase of growth, focusing on manufacturing expansion, backward integration, and technological innovation. The round saw participation from prominent investors including Ambit Global Private Client, Nikhil Kamath, Shahi Exports Pvt Ltd, SRF Transnational Holdings Ltd, Karmav Real Estate Holdings LLP, NSFO Ventures LLP, and Godwitt Construction Pvt Ltd. According to market sources, Havells invested around Rs 6 billion, while Zerodha co-founder Nikhil Kamath contributed approximately Rs 1.4 billion. A few Indian sportspersons also joined the round, highlighting the growing interest in clean energy ventures. “These value-aligned investors are among India’s most forward-thinking capital providers and bring deep expertise in sustainable growth initiatives,” Goldi Solar said in its release. The investment process was advised by SBI Capital Markets Ltd, with Saraf and Partners serving as legal counsel, ensuring strategic oversight and governance. The fresh funding will help Goldi Solar expand its solar module production capacity, strengthen backward integration through solar cell manufacturing, and boost research into high-efficiency technologies. It will also support the company’s go-to-market initiatives and export expansion. Founder and Managing Director Ishver Dholakiya said, “With the backing of partners like Havells and other esteemed investors, we are empowered to scale new heights in solar manufacturing and innovation. Together, we will drive the next wave of growth, setting new benchmarks in governance, sustainability, and performance.” The Surat-based company has expanded its solar PV module manufacturing capacity from 3 GW to 14.7 GW in the past year and is developing a 1.2 GW solar cell manufacturing facility in Gujarat.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

Infrastructure Energy

05 Aug 2026

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Infrastructure Urban

05 Aug 2026

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..