Alpex Solar raises Rs 260 cr via preferential issue of shares, warrants

New Delhi, Sep 25 (PTI) Solar PV module maker Alpex Solar on Thursday said it has raised Rs 260.17 crore through the preferential issue of equity shares and warrants.

The strategic fundraise will support its aggressive expansion plans aimed at transforming the company into an integrated solar cell and module manufacturer, according to a company statement.

The company is looking to triple its solar module capacity to 3.6 GW from the present 1.2 GW by FY 2026-27, the statement said.

"Alpex Solar today announced that it has successfully raised Rs 260.17 crore through a preferential issue of 21,46,600 equity shares and warrants," it stated.

Trial production of solar cells (first phase) is set to commence soon.

The company aims to have a solar cell capacity of 1.6 GW and a solar module capacity of 3.6 GW by FY27.

Besides, it is looking to have its 12,000 MTPA aluminium frame manufacturing facility fully operational.

"With the capital infusion, we are well-positioned to complete our ongoing expansion to achieve full-scale production across solar cells, modules, and aluminium frames.

"In FY26, we are hopeful of commissioning Phase 1 of our 1.6 GW solar cell project, with 500 MW commencing commercial production, alongside the 12,000 tonne aluminium frame plant," Ashwani Sehgal, Managing Director of Alpex Solar, said.

Alpex Solar currently operates six manufacturing units spread across Greater Noida, Kosi-Kotwan in Uttar Pradesh and Madhya Pradesh. PTI KKS SHW