Cosmic PV Power receives SEBI approval for INR 640 crore IPO

Cosmic PV

The company plans to use INR 497 crore of the net proceeds from the fresh issue to finance the establishment of a greenfield solar cell manufacturing facility in Narmadapuram, Madhya Pradesh

osmic PV Power, an Indian solar PV module manufacturer and EPC services provider, has received final observations from the Securities and Exchange Board of India (SEBI) for its proposed INR 640-crore initial public offering (IPO).

The company filed its draft red herring prospectus (DRHP) with SEBI on March 30, 2026. The proposed IPO comprises a fresh issue of equity shares aggregating up to INR 540 crore and an offer for sale (OFS) of equity shares worth up to INR 100 crore by the selling shareholders. The face value of each equity share is INR 10.

The company plans to use INR 497 crore of the net proceeds from the fresh issue to finance the establishment of a greenfield solar cell manufacturing facility in Narmadapuram, Madhya Pradesh. The remaining proceeds will be used for general corporate purposes. The company will not receive any Offer proceeds, and all the Offer proceeds will be received by the selling shareholders, in proportion to their respective share of the offered shares sold by them as part of the Offer.