Vishakha Renewables files IPO papers, eyes Rs 1,250 crore

Vishakha Renewables, a company founded by Gautam Adani that specializes in solar components, has submitted its Draft Red Herring Prospectus. The firm aims to secure ₹1,250 crore through an initial public offering, designated for debt repayment and other corporate needs. A portion, ₹900 crore, will specifically address current borrowings. The IPO also includes an offer-for-sale of 1.81 crore shares, with proceeds benefiting the selling shareholders.