Indosol lines up Rs 69K-cr capex

Hyderabad: Indosol Solar Pvt Ltd, a Solar PV manufacturer and a wholly-owned subsidiary of Shirdi Sai Electricals Ltd, is planning to go for an Initial Public Offering (IPO) next financial year after the company’s ongoing 1 GW line in Andhra Pradesh is commissioned.

Chairman and Managing Director of Shirdi Sai Electricals N Visweswara Reddy said: “Indosol Solar has been recognised under the Production Linked Incentive (PLI) scheme and awarded a total incentive of Rs5,175 crore, granted in two tranches. Indosol aims to become an eminent player in India’s solar sector by developing a fully integrated, Giga-scale Solar PV manufacturing facility covering the entire process from quartz to PV modules.