Solar photo-voltaic cells maker Indosolar Ltd plans to come out with an initial public offer for raising Rs 400 crore to fund its proposed expansion project
On 20th April 2010, Dr.Farooq Abdullah, Honurable Minister for New and Renewable energy ,Govt. Of India, has inaugurated the the Indo solar plant at Noida .
On this occasion B K Gupta, chairman of Indo solar said that “Imagine an India, where everything from cars to homes and industries are powered by solar energy. where the air is pure, Energy costs little , power shortages are history . Man may finally be at peace with his environment .’’
Indosolar's production unit for SPV cells in Greater Noida has one cell making line with an annual capacity of 80MW. "We intend to increase our annual production capacity to approximately 260 MW by April 2011," Indosolar said in DRHP.
The company is also considering private placement of shares (pre-IPO placement) aggregating up to Rs 125 crore, according to the DRHP.
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