India’s Azure Power launches IPO in New York

Facebook
Twitter
LinkedIn
Reddit
Email
Proceeds received by Azure Power India will be used for growth capital requirements, new project development and other general corporate purposes. Credit: Azure Power

India-based energy firm Azure Power Global has launched its IPO on the New York Stock Exchange offering 6.82 million equity shares priced between US$21 to US$23 per share.

A total of 5.86 million of the shares will be sold by Azure Power and 954,545 shares will be sold by certain selling shareholders, according to a company statement.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The expected net proceeds of US$112.7 million will be used to fund Azure Power Global’s purchase of equity shares issued by its subsidiary Azure Power India and to fund future operating expenses of Azure Power, according to a Reuters brief.

Proceeds received by Azure Power India will be used for growth capital requirements, new project development and other general corporate purposes.  

Azure was the eighth most successful PV developer in India for projects commissioned between Q3 2015 and Q2 2016, according to Bridge to India’s latest India Solar Map 2016.

Read Next

June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 26, 2025
ACEN has partnered with UPC Renewables to build two renewable projects in Rajasthan and Karnataka, India. 
June 25, 2025
Emmvee has secured INR15 billion (US$174 million) order for TOPCon bifacial solar modules from KPI Green Energy. 
June 25, 2025
State-owned firm Solar Energy Corporation of India (SECI) has launched a solar-plus-storage tender seeking 1.2GW of solar PV.
June 24, 2025
Waaree Renewable Technologies has signed an MoU with Viet Khanh to establish a 100MWp solar project in the region. 
June 24, 2025
BluPine Energy has raised INR2,416 million (US$290 million) debt sanctions for its 150MW power project in Aland, Karnataka.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA