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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capital Expenditure for Plant Equipment
Funding the procurement of machinery and equipment for the proposed solar component manufacturing facility.
Working Capital Requirements
Meeting augmented working capital needs to support the expansion of solar EPC contracts and operations.
General Corporate Purposes
Allocating funds for general corporate overheads and strategic corporate initiatives.
(₹ in Crore)
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Infrax Renewable Limited is a Gujarat-based solar energy solutions provider established originally in 2019 as Infrax International before converting into a public company in September 2024. Headquartered in Rajkot, the organization operates predominantly as a turnkey solar Engineering, Procurement, and Construction contractor. Its service scope spans comprehensive project delivery including initial site surveys, detailed system design, component procurement, site installation, system testing, grid commissioning, and ongoing operation and maintenance contracts for commercial, industrial, and residential clients. Beside contracting operations, the enterprise functions as an Independent Power Producer by operating a utility-scale solar generation plant located in Jasdan, Gujarat. Power produced at this installation is supplied to Paschim Gujarat Vij Company Limited under a long-term Power Purchase Agreement, delivering stable recurring cash flows to the firm. Additionally, the company trades solar components, supplying photovoltaic modules, string inverters, solar mounting structures, and balance-of-system electrical hardware to third-party EPC firms and commercial buyers. To strengthen operational margins and secure critical inputs, the business is establishing a dedicated manufacturing plant in Gujarat for solar mounting structures and specialized hardware. Growth strategies prioritize expanding solar EPC execution into neighboring states, building up additional IPP generation capacity, and leveraging an integrated business structure to capitalize on rising domestic demand for clean energy infrastructure.
No anchor investors added yet.
Source: RHP • Analysis provided for informational purposes
Last Updated: 17 September 2026, 2:25 PM
Diversified Clean Energy Revenue Streams
Generates revenue through turnkey solar EPC contracts, long-term power generation as an IPP, and wholesale component distribution.
Long Term Cash Flow Visibility
Secures predictable income via a multi-year power purchase agreement with state distribution utility PGVCL for solar power generation.
Comprehensive Execution Capabilities
Executes full project cycles internally, managing design, procurement, installation, grid testing, and long-term maintenance.
Regional Revenue Concentration
Operations and project assets are concentrated heavily in Gujarat, leaving financial results vulnerable to state-level regulatory or market changes.
High Working Capital Intensity
Solar EPC project deployment demands substantial upfront capital for procurement prior to receiving client milestone payments.
Unplaced Equipment Orders for New Factory
Machinery orders for the planned manufacturing facility have not been finalized, exposing project schedules to potential equipment procurement delays.
Infrax Renewable Limited
402-403, R K Prime 2, Mahapuja Dham Chok, 150 Feet Road, Malviyanagar, Rajkot, Gujarat, 360004
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