Indosolar Ltd entering the capital market with a public issue of Rs 357 crore. The IPO price band has been fixed between Rs 29 and Rs 32 per share of face value Rs 10 each. The issue opens on September 13 and closes on September 15.
Indosolar Ltd. is engaged in the manufacturing of solar photo-voltaic (SPV) cells from crystalline silicon wafers used for converting sunlight directly into electricity.
Indosolar is looking at expanding its manufacturing capacity further. Expansion through Line 2 with an annual capacity of 80 MW is under progress and is expected to be commissioned by March 2010. The company plans to raise funds through its IPO mainly to fund the expansion of Line 3 which would have an annual manufacturing capacity of 100 MW.
Please follow the below link for further readings: Indosolar
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