Insolation Energy to Raise Rs.4.02 Billion via Preferential Share Allotment
ECONOMY & POLICY

Insolation Energy to Raise Rs.4.02 Billion via Preferential Share Allotment

Jaipur-based solar module manufacturer Insolation Energy (INA) is set to raise Rs.4.02 billion ($47.8 million) through a preferential allotment of 1.22 million equity shares to 117 non-promoter entities. Priced at Rs.3,287 ($39.12) per share, the move will diversify the company's investor base and bolster its financial standing.

Major allottees include Brightview Management Consultancy, NAV Capital Emerging Star Fund, and Bengal Finance & Investment. The new shares will represent 5.65% of the company’s post-allotment equity base.

Shareholder approval for the allotment will be sought at an Extraordinary General Meeting on November 13, 2024.

The capital infusion will support Insolation Energy’s expansion efforts, including a 3 GW solar module facility and a 12,000 MTA aluminum frame plant in Jaipur. The company is also advancing rooftop solar projects in Rajasthan and continues to provide modules for government initiatives like the Jal Jeevan Mission and PM-Kusum.

Jaipur-based solar module manufacturer Insolation Energy (INA) is set to raise Rs.4.02 billion ($47.8 million) through a preferential allotment of 1.22 million equity shares to 117 non-promoter entities. Priced at Rs.3,287 ($39.12) per share, the move will diversify the company's investor base and bolster its financial standing. Major allottees include Brightview Management Consultancy, NAV Capital Emerging Star Fund, and Bengal Finance & Investment. The new shares will represent 5.65% of the company’s post-allotment equity base. Shareholder approval for the allotment will be sought at an Extraordinary General Meeting on November 13, 2024. The capital infusion will support Insolation Energy’s expansion efforts, including a 3 GW solar module facility and a 12,000 MTA aluminum frame plant in Jaipur. The company is also advancing rooftop solar projects in Rajasthan and continues to provide modules for government initiatives like the Jal Jeevan Mission and PM-Kusum.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code