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PMEA Solar Tech Secures SEBI Approval for Rs 600 Crore IPO

PMEA Solar Tech Solutions Ltd. received SEBI approval to raise INR 600 crore through an IPO, including fresh shares and promoter offers. Proceeds will fund manufacturing, equipment purchases, debt repayment, and corporate purposes. The IPO includes a pre-IPO placement option of INR 120 crore. Promoters plan to sell 1.12 crore shares, with Book Running Lead Managers being IIFL Securities and ICICI Securities. The funds will bolster PMEA’s position in India’s renewable energy sector, aligning with the growing green energy market.