July 10, 2025 01:11 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
IAF Jaguar fighter jet crashes in Rajasthan, pilot dies | Namibia is a valued partner, says PM Modi after arriving in Windhoek | Nine people killed as vehicles fell into river after bridge collapses in Gujarat's Vadodara | Alia Bhatt's former personal assistant arrested for cheating actress of Rs. 76.9 lakh | 'We will together defeat TMC in 2026': Disgruntled BJP leader Dilip Ghosh after meeting new Bengal unit chief Samik Bhattacharya | Indian nurse Nimisha Priya, on death row for murder in Yemen, to be executed on July 16 | Fatal Air India plane crash preliminary report submitted to government | MNS workers out to oppose protests against slapgate incident detained | Social media influencer files complaint against MNS leader's son for ramming car into her vehicle in drunken state | Bihar businessman Gopal Khemka murder accused killed in police encounter in Patna
The offer includes fresh issue up to ₹1,500 crore and OFS of up to 17.45 million equity shares. (Photo: linkedIn.com)

Vikram Solar gets SEBI approval for IPO to fund major expansion plans

| @indiablooms | Jun 03, 2025, at 09:48 pm

Kolkata: Vikram Solar Limited has received final approval from the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

The offer includes a fresh issue of shares worth up to ₹1,500 crore and an offer for sale of up to 17.45 million equity shares by promoter and promoter group shareholders.

The proceeds from the fresh issue will primarily fund capacity expansion.

The company plans to invest ₹793.36 crore in its wholly owned subsidiary, VSL Green Power Private Limited, for setting up an integrated 3,000 MW solar cell and 3,000 MW solar module manufacturing facility.

Another ₹602.95 crore will go toward expanding an existing module facility from 3,000 MW to 6,000 MW under Phase II of the project.

With over 15 years in the solar industry, Vikram Solar is among India’s largest manufacturers of solar photovoltaic modules by installed capacity.

As of March 31, 2024, the company had 4.5 GW of module manufacturing capacity and is listed under the Ministry of New & Renewable Energy’s Approved List of Module Manufacturers (ALMM).

Vikram Solar operates manufacturing units in West Bengal and Tamil Nadu and is undertaking major greenfield and brownfield expansions.

It targets increasing its total capacity to 10.5 GW by FY26 and 15.5 GW by FY27, including backward integration into solar cell manufacturing.

The company’s product portfolio includes high-efficiency PV modules based on TOPCon, HJT, and PERC technologies, available in both bifacial and monofacial formats.

Revenue from operations rose 21.11% year-on-year to ₹2,510.99 crore in FY24, up from ₹2,073.23 crore in FY23.

EBITDA more than doubled to ₹398.58 crore from ₹186.18 crore.

JM Financial, Nuvama Wealth Management, UBS Securities India, Equirus Capital, and PhillipCapital are the book-running lead managers to the issue. Link Intime India is the registrar.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu