RIR Power Electronics ignites India's SiC revolution after successful NSE debut

RIR Power Electronics’ debut on the National Stock Exchange (NSE) marks a key milestone in its evolution from a legacy power electronics manufacturer into a next-generation semi-conductor company, as it ramps up investments in Silicon Carbide (SiC) manufacturing in Odisha and expands its presence in global high-power markets.

Already listed on the BSE since 1986, RIR’s dual listing on the NSE enhances market liquidity, broadens institutional investor participation, and strengthens the company’s platform to pursue long-term growth in India’s fast-evolving semiconductor ecosystem.

Commenting on the listing, Dr. Harshad Mehta, Non-Executive Chairman of RIR Power Electronics Ltd said, "When we took over RIR two decades ago, our vision was to build a globally competitive Indian semiconductor company rooted in innovation and advanced manufacturing. The NSE listing reflects the progress we have made, but more importantly, it strengthens our ability to invest in the future. Our Silicon Carbide programme is not just about creating a new business, it is about contributing to India's semiconductor self-reliance and building technologies that will power the next generation of mobility, energy and industrial applications."


RIR said its NSE debut comes as the company ramps up investments in Silicon Carbide (SiC) technology, a critical semi-conductor material increasingly used in electric vehicles, renewable energy systems, defence electronics, industrial automation and high-voltage power applications.

N. Ramesh Kumar, Managing Director and CEO, RIR Power Electronics said, "The NSE listing is a pivotal step in strengthening our growth trajectory. It provides us with a stronger platform to attract diverse investors, channel resources into innovation, and expand our footprint across critical sectors.”

The company said construction of the cleanroom at its upcoming SiC semi-conductor facility in Bhubaneswar has been completed, while installation of plant and machinery is progressing and is expected to conclude by the end of July 2026.

Commercial epitaxial wafer production is targeted for the second quarter of FY2027, marking a key milestone in India's efforts to build indigenous semiconductor manufacturing capabilities under the Make in India programme. The Bhubaneswar project is part of a broader Rs 618-crore investment to establish one of India's first vertically integrated Silicon Carbide semiconductor manufacturing ecosystems, the company said.

RIR said it also secured its first international order for the supply of 125-mm, 5 kV silicon-controlled rectifier (SCR) thyristors earlier this year. The export order, scheduled for phased execution through the end of 2026, involves high-power semi-conductor devices used in critical industrial and power infrastructure applications, the company said. It recently announced the successful development of a 25 kV–120 kA capacitor discharge vertically integrated semiconductor switch, designed for high-energy pulse applications across defence, advanced medical systems, precision industrial equipment and directed-energy technologies.

With a market capitalisation of approximately Rs 1,257 crore, manufacturing operations in Halol, Gujarat, and an upcoming semiconductor facility in Odisha, RIR says it is positioning itself to benefit from India's policy-led semi-conductor manufacturing push while expanding its presence in global high-power semiconductor markets.

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