Vikram Solar IPO Price Band Set For Rs 2080-Crore Share Sale — Details Here
The Vikram Solar IPO will open on Tuesday, Aug. 19, and close on Thursday, Aug. 21.
Vikram Solar Ltd., a solar photovoltaic module manufacturer, has set the price band for its initial public offering, launching next week. The IPO is a mix of a fresh issue of shares up to Rs 1,500 crore and an offer for sale of up to 17.45 million equity shares by promoters worth Rs 579 crore.
Investors can bid for the IPO at a range of Rs 315 and Rs 332 per share, which has a face value of Rs 10.
The Vikram Solar IPO will open on Tuesday, Aug. 19, and close on Thursday, Aug. 21. The pre-IPO anchor round for institutional investors will be held on Aug. 18. The tentative date of allotment of shares to IPO investors will be Friday, Aug. 22, and the stock will be listed on the NSE and BSE on Aug. 26.
The lot size for an application is 45. The minimum investment required by an individual investor (retail) is Rs 14,940 (45 shares).
Gyanesh Chaudhary, Vikram Capital Management Pvt., and Anil Chaudhary are the promoters of the company offloading shares in the offer for sale.
JM Financial Ltd., Nuvama Wealth Management Ltd., UBS Securities India Pvt, Equirus Capital Pvt and PhillipCapital India Pvt are the book-running lead managers for the issue.
About Vikram Solar
Vikram Solar filed for an IPO in September last year and got SEBI approval in June.
From the fresh issue proceeds, the company will invest Rs 770 crore in its wholly owned subsidiary, VSL Green Power Pvt., for setting up an integrated 3,000 MW solar cell and 3,000 MW solar module manufacturing facility in Tamil Nadu, as per the offer documents.
It will also invest Rs 595 crore to then expand capacity to 6,000 MW at the project site.
The remaining amount will be used for general corporate purposes.
Kolkata-based Vikram Solar is a solar photovoltaic module manufacturer with 16 years of experience. The company has installed 4.5 GW of manufacturing capacity for solar PV modules and an order book of 10,340.8 MW as of March 31, 2025.
Last year, it won contracts from NTPC Renewable Energy Ltd. and NLC India Ltd.
To meet growing demand, Vikram Solar is currently undertaking significant greenfield and brownfield expansion plans, which are expected to increase installed solar PV module manufacturing capacity to up to 15.50 GW by FY26 and up to 20.50 GW by FY27.
