Cosmic PV Power Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India, marking a significant step toward its proposed initial public offering (IPO).
According to available information, the company plans to raise approximately ₹640 crore through the public issue. The IPO is expected to comprise a fresh issue of shares worth ₹540 crore along with an offer for sale (OFS) of ₹100 crore by existing shareholders. The proceeds from the fresh issue are likely to be utilized for capacity expansion, working capital requirements, and other general corporate purposes.
Based in Surat, Cosmic PV Power operates in the solar manufacturing segment, focusing on the production of photovoltaic (PV) modules for utility-scale, commercial, and residential applications. The company has been expanding its manufacturing footprint in response to rising domestic demand and policy support for local solar manufacturing under India’s clean energy initiatives.
The DRHP filing represents an early stage in the IPO process and is currently under review by SEBI. Following regulatory observations, the company is expected to proceed with the next steps, including filing the Red Herring Prospectus (RHP) and announcing issue dates.
The move comes amid increasing participation from renewable energy companies in India’s capital markets, as firms seek to raise funds to scale operations and strengthen their position in the rapidly growing solar sector.
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