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Powering Growth,Delivering Value
$2.4B
Market Cap
34%
YoY Growth
850+
MW Deployed
Rayzon Solar is redefining renewable energy investment with transparent reporting,
strategic growth initiatives, and sustainable value creation. Access our latest
financial reports, governance policies, and leadership insights as we build the
future of clean energy together.
Chirag Devchandbhai Nakrani is the Managing Director on the
Board of our Company. He has attended Gujarat Secondary and
Higher Secondary Education Board, Gandhinagar for his
secondary and higher secondary certification. He is
responsible for leading strategy sales initiatives, driving
marketing campaigns, overseeing revenue growth, and market
expansion. He has been associated with our Company since
February 13, 2017 and has over eight years of experience in
the solar industry.
Hardik Ashokbhai Kothiya
Chairman & Joint Managing Director
Hardik Ashokbhai Kothiya is the Joint Managing Director and
Chairman on the Board of our Company. He holds a bachelor’s
degree in civil engineering from Shri Swami Atmanand
Saraswati Institute of Technology, Gujarat Technological
University, Surat. He is responsible for managing end to end
production operations, supply chain strategy, vendor
management, and procurement planning. He has been associated
with our Company since February 13, 2017 and has over eight
years of experience in the solar industry.
Ashokbhai Manjibhai Kothiya
Whole Time Director
He has not received any formal education. He is responsible
for overseeing financial planning, budgeting, treasury
operations, compliance and banking relationships. He has
been associated with our Company since February 13, 2017 and
has over eight years of experience in the solar industry.
Devchandbhai Kalubhai Nakrani
Whole Time Director
He has not received any formal education. He is responsible
for leading and overseeing HR functions including talent
acquisition, employee relations, organizational development
and HR planning. He has been associated with our Company
since February 13, 2017 and has over eight years of
experience in the solar industry.
Binay Radhakisan Agarwal
Independent Director
He has attended Dr. Grahams School, Kalimpong for his
secondary education. He has over 23 years of experience in
the textile and fabric industry. He is currently associated
with Sachin Infra Environment Limited, Surat Impex Private
Limited, Surat Induction Private Limited and Surat Mega
Textile Processing Park Association as a director.
Jay Ajit Chhaira
Independent Director
He has a bachelor’s degree in commerce from South Gujarat
University, bachelor’s degree in law from South Gujarat
University and a master’s degree in commerce from South
Gujarat University. He was also a fellow of the Institute of
Chartered Accountants of India. He has over eight years of
experience. Prior to joining our Company, he was a
practising chartered accountant. He is currently associated
with Jay Academy Private Limited as a director.
Deepali Darshak Lakdawala
Independent Director
She has a degree in commerce from Maharaja Sayajirao
University of Baroda. She is an associate member of the
Institute of Company Secretaries of India and Institute of
Cost Accountants of India. She has over 15 years of
experience in the finance sector. Prior to joining our
Company, she was previously associated with S.B. Parikh and
Company, Cost Accountants, Sarabhai M Chemicals – Division
of Ambala Sarabhai Enterprises Limited as a management
trainee, and L&T-MHI Boilers Private Limited as a senior
executive – finance and accounts. She is also a practicing
cost accountant.
Ankit Naresh Mittal
Independent Director
He holds bachelor’s degree in commerce from Veer Narmad South
Gujarat University. He is also a fellow member of the
Institute of Chartered Accountants of India. He has over 13
years of experience as a practising chartered accountant. He
is also a partner at Pankaj R Singhal & Co., Chartered
Accountants.
Smita Kiran Davda
Independent Director
She has a bachelor’s degree in commerce (accounting and
auditing) from Maharaja Sayajirao University of Baroda and
master’s degree in commerce (accounting and financial
management) from Maharaja Sayajirao University of Baroda.
She is also an associate member of the Institute of
Chartered Accountants of India. She has over 14 years of
experience in the finance sector. Prior to joining our
Company, she was previously associated with Indiabulls
Financial Services Limited as manager (credit – business
loans) and Yes Bank as zonal head (credit seb risk)
Material Contracts and Documents
Industry report on renewable energy market of India_June 2025_CRISIL
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disclaimer before continuing.
The following disclaimer applies to the draft red herring prospectus of Rayzon Solar Limited (the
“Company”) dated June 25, 2025 (the “Draft Red Herring Prospectus”) filed with the
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offering of the equity shares of the Company (the “Offer”).
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would by virtue of such distribution become subject to new or additional registration, licensing
or other regulatory requirements. The securities described in the Draft Red Herring Prospectus
have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the
“U.S. Securities Act”), or any state securities laws in the United States, and unless so
registered may not be offered or sold within the United States, except pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the U.S. Securities
Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and
sold outside of the United States in “offshore transactions” as defined in and in reliance on
Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where
those offers and sales are made. There will be no public offering of such securities in the
United States.
Any person into whose possession the Draft Red Herring Prospectus comes is required to inform
himself or herself about and to observe any such restrictions.
Invitations to subscribe to or purchase the equity shares in the Offer will be made only pursuant
to the Red Herring Prospectus if the recipient is in India or the preliminary offering
memorandum for the Offer, which comprises the Red Herring Prospectus and the preliminary
international wrap for the Offer, if the recipient is outside India. No person outside India is
eligible to Bid for equity shares in the Offer unless that person has received the preliminary
offering memorandum for the Offer, which shall contain the selling restrictions for the Offer
outside India.
Any potential investor should note that investment in equity shares involves a high degree of
risk and for details relating to such risk, please see the section titled “Risk Factors” of the
Draft Red Herring Prospectus.
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information contained in the Draft Red Herring Prospectus may not be updated since its original
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