Pranjal Saini | New Delhi | 18 April 2025
Rayzon Solar, one of India’s most promising solar panel manufacturers, is making headlines with its maiden funding round of Rs 150 crore (~$18 million)—and cricket legend Sachin Tendulkar is among the high-profile names backing the green energy revolution.
Joining Tendulkar in this electrifying round are Harshadkumar Patel, who is leading with a Rs 26.8 crore investment, and Divyang Patel, alongside 90+ individual investors who are rallying behind Rayzon’s ambitious growth journey. This landmark raise places Rayzon Solar at a post-money valuation of Rs 7,170 crore ($844 million)—a phenomenal leap for a firm that started in 2017.
Powering the Future, One Panel at a Time
The Surat-based company, co-founded by Chirag Nakrani and Hardik Kothiya, is setting new benchmarks in the Indian clean-tech space. Operating under both B2B and B2C models, Rayzon manufactures high-efficiency solar PV modules for homes, businesses, and utility-scale solar projects across India and global markets.
And this is just the beginning.
The fresh capital infusion will fuel aggressive expansion plans, meet working capital needs, and support general corporate growth—all while keeping the company firmly on track for its public market debut. According to insiders, the company is gearing up to file its Draft Red Herring Prospectus (DRHP) soon.
Bright Numbers, Brighter Prospects
In FY24, Rayzon clocked Rs 1,273 crore in operating revenue with a net profit of Rs 61 crore—solid fundamentals that position it as a formidable force in the clean energy sector.
What’s more, the board has greenlit a bold new move: ESOP Plan 2025, consisting of 1 crore employee stock options valued at an impressive Rs 234 crore (~$27.5 million). It’s a clear signal that Rayzon is not only building solar tech—it’s building a culture of ownership and innovation.
The Green Gold Rush Is On
Rayzon’s rise is no accident. The Make in India push, non-tariff barriers, and favorable government policies like import duties on solar modules have created a once-in-a-generation opportunity for Indian manufacturers. Rayzon has seized the moment with a rapid capacity expansion and a bold brand campaign that has put it on the map.
Even with global uncertainties—like the temporary shelving of its U.S. plant due to policy shifts—Rayzon remains laser-focused on growth and leadership. It’s riding the momentum of a solar manufacturing boom, even as players like Reliance and Adani prepare to enter the arena with their own giga-scale capacities.
A High-Stakes, High-Reward Play
The solar sector is heating up, and Rayzon Solar is positioning itself as a next-gen energy leader just as India’s clean-tech story hits full throttle. With strong investor backing, visionary leadership, and solid financials, this pre-IPO round isn’t just a funding event—it’s a vote of confidence in India’s renewable energy future.
From cricketing icon to clean energy icon—Sachin Tendulkar’s latest innings is with the sun. And with Rayzon Solar charging ahead, the sky is truly the limit. \
