Upcoming IPO, June 27 -- Gujarat-based Rayzon Solar Ltd has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).

Rayzon Solar began its journey in 2017 as a partnership entity known as M/s Rayzon Green Energies, specializing in the production of solar PV modules, and has swiftly increased its manufacturing capacity for solar PV modules from just 40 MW as of March 31, 2018, to 6.00 GW as of March 31, 2025.

It produces solar PV modules at two manufacturing sites situated in Karanj and Sava, currently possessing a manufacturing capacity of 3.00 GW at each location and planning to enhance its manufacturing capability by an additi...