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Avaada Electro Receives SEBI Approval to Move Ahead with IPO

Brookfield-backed solar PV manufacturer Avaada Electro is reinforcing its position among India’s leading module producers, supported by the diversified clean energy portfolio of the Avaada Group.

Avaada Electro, the solar manufacturing arm of the Avaada Group, has secured approval from the Securities and Exchange Board of India to proceed with its initial public offering (IPO).

The company ranks among India’s largest solar PV module manufacturers by operational capacity as of September 30, 2025. It is also enlisted under the Approved List of Models and Manufacturers (ALMM) and maintains a strong presence in the high-efficiency solar module segment.

Avaada Electro operates within the broader Avaada Group ecosystem, which has a diversified footprint across solar PV manufacturing, renewable power generation, green hydrogen and its derivatives, pumped hydro storage, battery energy storage, and green data centers. The group is backed by global investors including Brookfield Renewable Partners and Thailand’s Global Power Synergy Public Company Limited.

In 2023, the group raised over $1.3 billion to accelerate its expansion across solar, green hydrogen, battery storage, and green ammonia segments, further strengthening its integrated clean energy strategy.