Rayzon Solar Ltd IPO

Advanced Manufacturing Facilities and R&D Capabilities with Focus on Quality.

Strategically Positioned to Capture Favourable Industry Tailwinds

Diversified Customer Base with a Robust Order Book

Expansive Distribution Network Supported by a Comprehensive Sales Framework

The company's revenues are dependent on the demand and sale of a limited number of variants of solar PV modules. A reduction in demand for solar PV modules may adversely affect its sales, results of operations and cash flows.

Changes in the prices of raw materials due to changes in global demand or supply or other factors could adversely affect its manufacturing of solar PV modules, which may then have an adverse effect on the company's business, financial condition and results of operations.

Restrictions on, or the imposition or increase of import duties on, materials imported for its manufacturing operations may adversely affect the company's business prospects, financial condition and cash flows.

The company intend to utilise a major portion of the Net Proceeds from the Issue for investment in the company's wholly owned subsidiary, Rayzon Energy Private Limited ("REPL"), for part financing the cost of establishing the manufacturing facility with 3.50 GW installed capacity, to produce solar cells using TOPCon technology (the "Project"), at RS No. 198, 197, 199/002, 196/002, Kathvada, Mangrol, Surat, 394 405, Gujarat, India (collectively, the "Project Site"), which may be subject to the risk of unanticipated delays in implementation, cost overruns and other risks.