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of <h1>Solar manufacturer shifts main expansion to Tamil Nadu, aims 17.5GW modules and 12GW cells by FY27; IPO trims promoter stake</h1> A Kolkata-based solar panel manufacturer will shift most upcoming capacity expansion to Tamil Nadu while limiting growth at its West Bengal unit, targeting 17.5 GW of module and 12 GW of cell capacity by FY27. The plan includes a major integrated cell-and-module facility in Tamil Nadu and a Rs 400 crore investment to add 2 GW at the West Bengal plant. Initial expansion (6 GW modules, 3 GW cells) will be financed via IPO proceeds, debt and incentives; the public offering is oversubscribed and will reduce promoter stake to about 63%. Projects are supported by Rs 1,700 crore debt, PLI incentives and Rs 900 crore state subsidies.
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