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.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

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.

Infrastructure Urban

07 Jul 2026

IHC and Adani to Invest US$11.5 bn in Odisha Aluminium Project

Abu Dhabi's International Holding Company (IHC) will invest US$11.5 bn in an integrated aluminium project in the eastern Indian state of Odisha in a joint venture with the Adani Group, a state official said. The official said the announcement represented the country's largest foreign investment in mining and metallurgy. Officials said the venture would span both mining and metallurgical activities across several facilities in the state. The project has been described as integrated, encompassing upstream bauxite extraction and downstream smelting and metallurgy, and is intended to develop a com..

Infrastructure Transport

07 Jul 2026

Air India and SIAEC to Explore MRO Joint Venture in India

Air India and SIA Engineering Company (SIAEC) have signed a memorandum of understanding (MoU) to explore the formation of a maintenance, repair and overhaul joint venture in India. The MoU, signed on Friday, will examine collaboration to develop India as a global aviation MRO hub and to serve growing needs across the Indian and regional markets. SIA Engineering Company, part of the Singapore Airlines Group which holds a 25.1 per cent stake in Air India, will bring technical expertise alongside Air India's established airline operations network. The partnership builds on existing cooperation be..

Infrastructure Transport

07 Jul 2026

Assam and Centre Review Aviation Projects Push Silchar Airport Approval

Assam and the Centre on Thursday, July two reviewed a series of aviation infrastructure projects aimed at strengthening air connectivity across the state, with the proposed greenfield airport at Silchar emerging as a key priority. The review formed part of broader efforts to position Assam as a major aviation and logistics hub for the north east. Officials outlined timelines and preparatory work that they said would guide the next stages of project approvals. The Chief Minister met the Union Civil Aviation Minister at Rajiv Gandhi Bhavan in New Delhi and described the meeting as very productiv..