Vikram Solar’s IPO will fund major expansions, enhancing its competitive edge through strong financial and capacity growth.
Vikram Solar’s IPO will fund major expansions, enhancing its competitive edge through strong financial and capacity growth.
Vikram Solar
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Expert Analysis
Vikram Solar Files DRHP.
Expert Analysis:
IPO Details: The IPO consists of a fresh issue of ₹1,500 crore and an offer-for-sale of up to 50 Lakh equity shares by promoters & Vikram Capital Management.
Promoter and Public Shareholding: Promoters hold 77.64% stake, while public shareholders own 22.36% stake.
Pre-IPO Placement: A pre-IPO placement of ₹300 crore is being considered, which will reduce the fresh issue amount if executed.
Utilization of IPO Proceeds: ₹793.4 crores will be used for a 3,000 MW solar cell and module facility by subsidiary VSL Green Power (Phase I) , ₹603 crores for expanding from 3,000 MW to 6,000 MW (Phase II) and other general corporate purposes.
