Avaada Electro Limited (Formerly ‘Avaada Electro Private Limited’)
Avaada Electro Limited, a wholly owned subsidiary of Avaada Group, is a producer of high-efficiency, globally certified N-Type TOPCon solar PV modules. Once operational, our Nagpur Facility will function as a fully vertically integrated solar manufacturing campus, covering the entire process from ingot to solar module.. Equipped with automated production lines and a 16-second average cycle time, the facility ensures precision and scalability. With 7GW capacity, 23.61% module efficiency, 4.04% market share in terms of ALMM-enlisted module manufacturing capacity and an approximate share of nearly 4.98% in high-efficiency solar modules and BIS, TÜV Rheinland certifications, it is driving India’s renewable manufacturing self-reliance and global solar leadership.
C-11, Sector-65,
Gautam Buddha Nagar,
Noida, UP-201301
406, 4th Floor, Solaris One,
N. S. Phadke Marg,
Andheri (East),
Mumbai - 400069
April 27, 2021
U31905UP2021PLC145680
INE0KDM01018 (OLD), INE0KDM01026
Mr. Surendra Gupta ,
Company Secretary and Compliance Officer
406, 4th Floor, Solaris One,
N. S. Phadke Marg,
Andheri (East),
Mumbai – 400069
Phone: +91 022 61408000
Email: surendra.gupta@avaada.com
MUFG Intime India Private Limited
(Formerly Link Intime India Private Limited)
C 101, Embassy 247,
L B S Marg,Vikhroli (West), Mumbai,400083
Phone: +91 022 49186000, +91 810 811 4949
Email: Investor.helpdesk@in.mpms.mufg.com, avaadaelectro.ipo@in.mpms.mufg.com
Vineet Mittal, India’s pioneering ‘greentrepreneur’, is redefining the global energy landscape as Founder and Chairman of Avaada Group. With a bold vision to position India as the world’s leading renewable energy hub, he is making a profound impact on the nation’s clean energy transition.
Under his leadership, Avaada has evolved into a diversified energy conglomerate, driving advancements in Renewable Energy, Solar PV Manufacturing, Green Data Centers, Pumped Hydro Storage, Battery Energy Storage Solutions and Green Hydrogen & its derivatives—including Green Methanol and Green Ammonia.
A distinguished NIT engineer and Harvard Business School alumnus, Vineet Mittal has earned global recognition for his groundbreaking contributions to green energy and digital transformation. In 2022, Avaada achieved a historic milestone—building the one of the world’s largest single-site solar project by a private IPP of 1.25 GWp capacity in Rajasthan.
Beyond business, Mr. Mittal is a recognized thought leader in global climate action. As a World Economic Forum member, he has played a key role in shaping sustainable policies worldwide. He previously served as Co-Chair of the B20 Task Force on Energy, Climate Change, and Resource Efficiency, and currently Chairman of the CII National Committee on Green Hydrogen, championing India’s leadership in the clean hydrogen economy.
In 2025, the University of Engineering and Management, Jaipur, conferred an honorary Ph.D. upon Mr. Mittal in recognition of his pathbreaking contributions to renewable energy, sustainability and technological innovation.
Vineet Mittal’s journey is a story of vision, innovation, and resilience. In his early career, he was among the pioneering minds at a leading telecom company, helping launch Internet access in India. A trailblazer in the dot-com, BPO, and renewable energy sectors, his entrepreneurial spirit has continuously driven industries forward. His groundbreaking work has earned him numerous accolades, including twice the “Solar Man of the Year” award.
Inspired by the five core elements of Ayurveda—ether, air, fire, water, and earth—Mr. Mittal envisions Avaada as an extension of nature’s bounty, where technology and tradition converge to build a self-sustaining future for generations to come.
For Mr. Mittal, leadership is a calling, not just a profession. His philosophy of “People Before Profits” ensures that business success is measured not just in numbers but in societal impact. In 2023, Avaada secured a landmark $1.3 billion funding round, proving that when a business is aligned with ethics and values, it attracts global trust and investment—and becomes a force for meaningful change.
Beyond boardrooms, Mr. Mittal remains deeply committed to nation-building. Through the Avaada Foundation, he personally oversees philanthropic initiatives across 15 states in India, addressing critical issues in education, healthcare, and rural empowerment.
A dedicated practitioner of Ashtanga Yoga and a seeker of higher truths, Mr. Mittal believes that inner transformation precedes outer impact. His Karmayogi philosophy, where action is driven by purpose and service—shapes both his business decisions and his commitment to humanity.
Sindoor Vineet Mittal, one of our Promoters, is the Vice-Chairperson and a Non-Independent Non-Executive Director on the Board of our Company. She holds a bachelor’s degree in management studies from University of Bombay, and has completed a post graduate programme in management from Indian School of Business, Hyderabad in 2005. She has also completed the executive program from Graduate School of Business, Stanford University. She has approximately 18 years of experience in the energy sector. She has previously served as the whole-time director with Welspun Energy Private Limited, and has handled functions such as execution of projects involving setting up of solar power plants. She has been awarded the Young Asian Entrepreneurs in 2019-20 by AsiaOne. She is currently also associated with Avaada Energy Private Limited, Avaada Foundation, Avaada Ventures Private Limited among others.
Vinoo George, is a Whole-time Director of our Company. He has received bachelor’s degree in mechanical engineering from the University of Madras in 1977. He is responsible for providing strategic direction, operational efficiency, quality management technology integration and overall capacity management in our Company. He has been associated with the Avaada group in various capacities since 2011. He has over 40 years of experience in the manufacturing sector. He has previously been associated with BHEL and Reliance Infrastructure Limited.
Rajnish Kumar is an Independent Director on the Board of our Company. He has received a master’s degree in physics from the Meerut University in 1979. He was a member of the central board of State Bank of India and also served as the chairman of State Bank of India (“SBI”). Previously, he served as the managing director (national banking group) and managing director (compliance & risk) in SBI and was also the chief general manager of the north-eastern circle of SBI. He has held several key assignments across various business verticals of State Bank of India, including the mid-corporate group, project finance, and two overseas assignments of SBI in Canada and U.K. Further, he was also the managing director and chief executive officer of SBICAP. He joined SBI as a probationary officer in 1980 and has over 40 years of experience in the banking industry.
Diana Miller is an Independent Director on the Board of our Company. She has received a diploma in marketing from the Auckland Technical Institute in 1989. She has approximately 14 years of experience in the information management sector. She was previously associated with McKinsey & Company as senior information specialist, Ecology and Co. as the chief executive officer, and Infowavz International Private Limited as head-training.
Subhash Kamath is an Independent Director on the Board of our Company. He has passed the examination for bachelor’s degree in commerce from the University of Calcutta in 1985. He has approximately 15 years of work experience. He has previously served as a member and subsequently, chairman on the Board of Governors of The Advertising Standards Council of India, executive director and group chief executive director of Bates India Private Limited, and chief executive officer of BBH Communications India Private Limited and has handled functions including promotion of responsible advertising in India.
