RIR Power Electronics shares surged 8% to ₹214 per share on Friday following the company's announcement of completing installation of advanced SiC semiconductor manufacturing reactors at its Bhubaneswar facility. The stock rose as much as 7.8% to its day's high of ₹214 per share on BSE, reflecting strong investor confidence in the company's strategic advancement in advanced semiconductor manufacturing capabilities. Despite the recent surge, the small-cap stock remains 45% away from its 52-week high of ₹388.10 hit in September 2025, while touching its 52-week low of ₹131.90 in March 2026. The stock has delivered positive returns of over 15% in 1 week, 20% in 1 month, 23% in 3 months and 31% in the last 6 months, though it shed over 34% in the last 1 year.
RIR Power Electronics has completed installation of key equipment at its ₹618 crore Bhubaneswar facility, which is expected to begin commercial production within the next three months. As per LiveMint, the company has completed the erection and installation of state-of-the-art SiC epitaxial wafer manufacturing reactors at its upcoming facility, with essential power connections, utilities and supporting infrastructure already commissioned. The facility is expected to begin commercial production after the remaining statutory and regulatory formalities are completed, with Shri Vishal Dev, Additional Chief Secretary, Government of Odisha confirming that this milestone reflects Odisha's growing role in India's semiconductor ambitions and is fully aligned with the Hon'ble Prime Minister's vision of Viksit Bharat. Once operational, the facility will manufacture SiC epitaxial wafers for both domestic and global markets.
The facility will commence commercial production upon completion of remaining statutory and regulatory formalities, with initial production capacity targeting around 750 SiC Epi wafers by the end of December 2026, scaling up to 20,000 wafers by the end of 2027. According to LiveMint, the company is planning an investment of ₹618 crore as part of the phased development of its Odisha semiconductor facility, with the SiC epitaxial manufacturing reactors and related infrastructure forming part of this planned investment. The facility is being developed through a phased approach, where Phase I establishes epitaxy and packaging capabilities, while subsequent phases will progressively build fabrication capabilities. This phased development will allow RIR to move towards a vertically integrated 'silicon carbide to system' ecosystem, spanning wafers, power semiconductor devices and system-level solutions.
SiC semiconductor technology offers significant advantages in terms of higher energy efficiency, improved power handling, reduced power losses, higher operating temperatures and enhanced switching performance compared with conventional silicon-based technologies. As per LiveMint, the facility will manufacture advanced SiC-based power semiconductor devices, including high-power MOSFETs, diodes and modules, with products designed for voltage applications ranging from 3.3 kV to 20 kV. These characteristics make SiC increasingly relevant across a range of applications, including electric mobility, renewable energy, energy storage, railways, aerospace, defence, data centres, industrial power electronics and automation. The company's long-term objective is to build a globally competitive base for power electronics and power semiconductor products, with the facility positioned to serve applications across strategic and high-growth sectors.
Odisha has secured commitments from five semiconductor companies to set up manufacturing facilities with a combined investment of over ₹12,237 crore. After RIR Power Electronics, SiCSem Private Limited has received approval for its ₹3,406 crore SiC semiconductor facility, while US-headquartered 3D Glass Solutions (3DGS) Inc has proposed an integrated advanced packaging facility with ₹1,943 crore investment, collaborating with Intel Corporation for the country's first 3D chip packaging plant. Additionally, ASP Semicon Private Limited is setting up a ₹4,620 crore semiconductor memory chip modules manufacturing plant, and Sancode Semi Private Limited will establish a ₹1,650 crore outsourced semiconductor assembly and test facility at Info Valley-II. This development reflects Odisha's growing role in India's semiconductor ambitions and commitment to supporting self-reliant, technologically advanced manufacturing capabilities, with the investment expected to support Odisha's emergence as an important hub in India's semiconductor value chain.
