Vikram Solar's Groundbreaking IPO: A New Era for Green Investment
Vikram Solar, a leading solar module manufacturer, has announced its initial public offering (IPO) with a price band set between Rs 315 to Rs 332 per share. The IPO aims to raise Rs 2,079 crore, funding capital investments in VSL Green Power. With substantial growth in revenue and profits, the firm seeks expansion in solar manufacturing.
- Country:
- India
Vikram Solar, a prominent solar module manufacturer based in Kolkata, has declared its entry into the stock market with an initial public offering (IPO) set between Rs 315 to Rs 332 per share. The company plans to raise a total of Rs 2,079 crore, commencing with subscriptions open from August 19 to August 21.
The IPO consists of fresh equity issues worth up to Rs 1,500 crore and an offer for sale (OFS) of over 1.74 crore shares with promoters targeting Rs 579.37 crore. The capital raised is earmarked for investment in VSL Green Power Private Ltd, a wholly owned subsidiary, focusing on multi-phase project developments.
Since starting its manufacturing in 2009, Vikram Solar has expanded its installed capacity from 12 MW to 4.50 GW. Acknowledged by CRISIL, the firm is noted for holding one of the largest capacities among listed manufacturers for solar modules. Its operational footprint covers extensive territories across India, supplying energy developers including NTPC and Adani Green Energy.
(With inputs from agencies.)
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