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  3. Vikram Solar gets SEBI nod for IPO with fresh issue of ₹1,500 crore, OF…

Vikram Solar gets SEBI nod for IPO with fresh issue of ₹1,500 crore, OFS of 17.45 million shares

4 Jun 2025

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Key Takeaways

Vikram Solar received SEBI approval for an IPO comprising ₹1,500 crore fresh issue and 17.45 million share OFS to fund capacity expansion and strengthen manufacturing infrastructure.

Vikram Solar received SEBI approval for an IPO comprising ₹1,500 crore fresh issue and 17.45 million share OFS to fund capacity expansion and strengthen manufacturing infrastructure.

vikram solar unlisted shares

Vikram Solar

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Expert Analysis

Vikram Solar Gets SEBI Nod for ₹1,500 Crore IPO.

Expert Analysis :

  • IPO Fundraising: Vikram Solar’s SEBI-approved IPO aims to raise up to ₹1,500 crore via a fresh issue and an OFS of 1.745 crore equity shares.

  • New Manufacturing Facility Investment: ₹793.36 crore of net proceeds will fund a 3,000 MW solar cell 3000MW solar module manufacturing facility through VSL Green Power Pvt Ltd.

  • Capacity Expansion: ₹602.95 crore will expand the existing 3,000 MW solar module plant to 6,000 MW under Phase I via the subsidiary.

  • Installed Capacity & Growth Plans: As of March 31, 2024, installed capacity stood at 4.5 GW, with plans to reach 10.5 GW by FY26 and 15.5 GW by FY27.

  • Revenue Growth: FY24 revenue increased 21.11% to ₹2,510.99 crore from ₹2,073.23 crore in FY23.

  • Profitability Improvement: EBITDA grew from ₹186.18 crore in FY23 to ₹398.58 crore in FY24, reflecting strong profitability.

  • Manufacturing Locations: Manufacturing facilities are located in Falta SEZ (Kolkata) and Oragadam (Chennai).

  • Product Portfolio: Product portfolio includes TOPCon, HJT, and PERC modules in bifacial and monofacial formats.

Publisher:ET Energy World