<h1>State subsidies support capacity expansion and financing mix for solar manufacturer's IPO-backed projects and debt financing.</h1> The company will fund the initial expansion phase through a combination of IPO proceeds, debt financing, and government incentives, with Tamil Nadu providing lifecycle subsidies and national production-linked incentives contributing to project viability; the public offering includes a fresh issue and an offer for sale that will dilute promoter holdings, and the company has obtained dedicated debt support to underpin the integrated cell and module capacity build out.