India-based Gautam Solar planned to start an engineering, procurement, and construction (EPC) business to support its solar module operations. The company also considered launching an IPO in the next 12–18 months to raise INR 1,000 crore (~$112.62 million) for a new 5 GW solar cell factory in Gwalior, Madhya Pradesh. It aimed to make its own solar cells to reduce outside dependence and improve supply chain efficiency. Gautam Solar had already opened a module plant in Bhiwani, Haryana and planned to reach 5 GW total capacity by the end of 2025 with new high-speed production lines. To fund expansion, it planned to raise INR 4,000 crore (~450.500 million) in phases from investors. The company also began passing GST reduction benefits to customers to make solar modules more affordable.