Liquidity Events
Vikram Solar’s Rs.2,079-Cr IPO subscribed 55x
The initial public offering (IPO) of Kolkata-based solar module manufacturer Vikram Solar was subscribed 54.63 times. The offering includes a fresh issue of equity shares worth INR 1,500 crore, along with an offer for sale (OFS) of shares amounting to INR 579 crore. The price band is set between INR 315 and INR 332 per share.Of the proceeds from the fresh issue, about INR 769.73 crore will be used for part funding of capital expenditure through investment in VSL Green Power (a WoS of the company) for the Phase I Project; INR 595.208 crore for funding capital expenditure through investment in VSL Green Power (a WoS of the company) for the Phase II Project; and the balance for general corporate purposes.Founded in 2005, Vikram manufactures solar photovoltaic (PV) modules, with an installed production capacity of 4.5 GW. Its clients include NTPC, Adani Green, JSW Energy, Azure Power, and ACME.In FY25, Vikram Solar reported revenue from operations of INR 3,423 crore and profit after tax (PAT) of INR 140 crore.
In Jun 2024, Vikram Solar had attracted about USD 86 M from Plutus Wealth Management and others.
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