The Avaada Electro IPO has been announced and its dates are awaited, with the shares to list on the NSE and BSE. The issue size is ₹7,600 crore. MUFG Intime India Pvt.Ltd is the registrar to the issue, and Axis Capital Ltd., BOFA Securities India Ltd., HSBC Securities & Capital Markets (India) Pvt.Ltd., ICICI Securities Ltd., IIFL Capital Services Ltd, SBI Capital Markets Ltd. are the lead managers.
Avaada Electro Private Limited was incorporated in the month of April 2021. It belongs to the renewable energy industry and deals with the manufacture of solar cells and solar photovoltaic (PV) modules.
As of the day of the Updated Draft Red Herring Prospectus-I, it has 8.50 GW of operational manufacturing capacity for solar modules and 3.00 GW of operational manufacturing capacity for TOPCon solar cells, which makes it one of the top 10 manufacturers of vertically integrated solar PV in India according to the mentioned CRISIL Report. The Company maintains manufacturing plants at Dadri, Uttar Pradesh and Nagpur, Maharashtra, that produce bifacial glass-to-glass N-type TOPCon solar modules.
As of March 31, 2026, the Company employs 1,659 full-time employees. It is well positioned to enter into the increasing solar PV market owing to its focus on advanced technology, scale, cost-efficient operations and vertical integration.
As described in the offer document.
Vineet Mittal, Sindoor Vineet Mittal, Avaada Ventures Pvt.Ltd..
Work out the listing gain for this IPO
Applications are made through ASBA, where the money is blocked in your own bank account rather than paid, or through a UPI mandate for applications up to five lakh rupees. Through your broker's app, choose the issue, the number of lots and the price; bid at the cut-off price so that the application is valid whatever price the issuer finally fixes; and approve the UPI mandate that arrives from your bank.
Through net banking, the ASBA form in your bank's IPO section does the same without a broker. One application per PAN counts; a second application in the same name is rejected, though applications in family members' names with their own PANs and demat accounts are separate.
Retail applications are capped at two lakh rupees; above that you apply as a non-institutional investor, where allotment is proportionate rather than by lottery. The money stays in your account and earns interest until allotment, and the block is released on the allotment date if you receive nothing.
The expected listing premium, usually called the grey market premium, is the amount per share that unofficial dealers are quoting for the issue before it lists. It is a sentiment reading, not a price you can transact at, and it is not regulated by SEBI or the exchanges. It moves through the day, usually tracks subscription, and often changes sharply in the final hours before listing.
Rupix records every observation and shows the trend, as a percentage of the top of the price band so that issues of different sizes can be compared. It is one input, alongside subscription, the company's financials and the valuation the issue asks for, and it does not predict the listing price.
The issue size is ₹7,600 crore.
On the registrar's website at https://in.mpms.mufg.com/Initial_Offer/public-issues.html, by PAN, application number or demat account, once the basis of allotment is published. The Rupix app can also check it by PAN.
Through your broker's app with a UPI mandate, or through your bank's net banking using ASBA. Bid at the cut-off price, approve the mandate, and the money stays blocked in your account until allotment. Rupix does not take applications.