Cosmic PV Power Files for Rs 640 Crore IPO with Sebi

• Solar module manufacturer Cosmic PV Power Ltd has filed draft papers with Sebi for an Initial Public Offering (IPO) to raise Rs 640 crore.
• The IPO includes a fresh issue of equity shares worth Rs 540 crore and an Offer For Sale (OFS) of Rs 100 crore by existing shareholders.
• Proceeds from the fresh issue will fund a new greenfield manufacturing facility in Narmadapuram, Madhya Pradesh, and general corporate purposes.
• Cosmic PV Power, a fast-growing player in solar PV module manufacturing, recorded a 125.8% CAGR in revenue from operations during FY23-FY25.
• The company is listed under MNRE's ALMM-I with a 1.30 GW capacity, enabling supply to government renewable energy projects.