Jupiter Secures ₹500cr Investment From ValueQuest SCALE Fund

Jupiter Secures ₹500cr Investment From ValueQuest SCALE Fund

Jupiter International Limited, a manufacturer of photovoltaic solar cells and provider of end-to-end solar power solutions, announced today that it has secured a ₹500 crore (approximately $60 million) investment from ValueQuest SCALE Fund and its affiliates. This marks ValueQuest’s second investment in the company.

Jupiter currently operates a 1 GW solar cell manufacturing facility in Baddi, Himachal Pradesh, and plans to ramp up its total capacity to 5.6 GW of solar cells and 2.4 GW of solar modules. The latest funding round, along with internal accruals, will support the company’s ongoing capital expenditure programme.

Pursuing integrated solar manufacturing

The company aims to evolve into a fully integrated player in India’s solar manufacturing value chain.

“ValueQuest’s second investment reaffirms investor trust and strengthens our position as one of the leading manufacturers in the renewable energy sector,” said Alok Garodia, Managing Director, Jupiter International Limited. “As a long-term partner, their continued confidence underscores our ability to scale efficiently and drive innovation.”

Driving India’s energy transition

Commenting on the investment, Ravi Dharamshi, Founder and Chief Investment Officer at ValueQuest, said: “Jupiter’s integrated approach makes it a key player in India’s energy transition. This second investment reflects our trust in their ability to scale operations and drive renewable growth.”

Pushkar Jauhari, Managing Director and Head of Private Equity at ValueQuest, added: “With their focus on advanced manufacturing and next-generation technologies, Jupiter will play a vital role in reducing import dependency and delivering sustainable solar solutions.”

Aum Capital acted as the exclusive financial advisor to Jupiter for the transaction.