India-based solar developer Azure Power has applied for listing on the Nasdaq stock exchange, according to a local report.
Indian newspaper Business Standard said the company had applied to the Securities and Exchange Commission for an initial public offering (IPO) of equity shares in March. Sources were unable to provide further information.
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Azure Power is one of India’s leading solar developers, with 142MW of projects across 11 states.
Earlier this month, the company commissioned a 10MW solar PV plant in Durg, Chhattisgarh, India. It was awarded the project under the Chhattisgarh Solar Policy 2012-2017 for supplying power to Chhattisgarh State Power Distribution Company Limited (CPDCL) over a period of 25 years.
Last month it also commissioned a 100MW solar plant in Jodhpur, Rajasthan, India, making it the largest owner and operator of solar PV plants under the National Solar Mission with a total operational capacity of 142MW.
