Vishakha Renewables Files IPO Papers, Targets Rs 1,250 Crore Fundraise
Vishakha Renewables, a solar components company founded by Gautam Adani, has filed its Draft Red Herring Prospectus as it prepares to raise up to Rs 1,250 crore through an initial public offering. The issue is designed primarily to reduce debt, with Rs 900 crore earmarked for repayment of borrowings, while the balance will support general corporate purposes and an offer-for-sale will allow existing shareholders to monetise part of their holdings.
