The IPO is a strategic move to raise capital for the company’s growth and enhance its market position. Vikram Solar is one of the top solar photovoltaic (PV) module manufacturers. The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) of its company.
Top investment companies like JM Financial, Nuvama Wealth, UBS Securities India, Equirus Capital, and PhillipCapital (India) handle the IPO. The Link Intime India Pvt Ltd is going to manage the investor records.
They are going to use the funds from the IPO to invest in new technology and build better facilities. This will help the company become a key player in providing clean energy all over the world.
The IPO includes new shares worth up to 1,500 crore rupees and the sale of up to 1.74 crore shares by the company’s promoters. Each share carries a face value of 10 rupees.
This offer is not only expected to increase Vikram Solar’s financial position but also attract investors to interest in clean energy. A large part of the money from the IPO, which is 793.36 crore, will go to VSL Green Power Pvt Ltd, a company fully owned by Vikram Solar.
This investment will help to start a combined 3,000 MW (3 GW) solar cell and module manufacturing facility in the Tirunelveli district of Tamil Nadu. Another 602.95 crore will be used to double the module production at the same location from 3 GW to 6 GW. The rest of the money will go toward general company needs.
Vikram Solar’s revenue increased by 21.11%. In 2023, it was 2,073.23 crore rupees, and in 2024, it was 2,510.99 crore rupees. Its EBITDA also increased last year. This growth is possible because of the higher demand in both India and international markets.
The company currently has a solar module production capacity of 4.50 GW. It aims to increase this to 10.50 GW by 2026 and further to 15.50 GW by 2027. Vikram Solar is also building a 3.00 GW solar cell factory in Tamil Nadu to support production.
They are going to use the IPO money to improve their technology and grow their facilities. With this, the company is getting ready to become a major part of the clean energy future, not only in India but worldwide.
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