Vikram Solar IPO: A Comprehensive Guide for Indian Investors
Vikram Solar Ltd., a leading solar photovoltaic module manufacturer, has raised Rs 620.8 crore from anchor investors on Monday, ahead of its initial public offering (IPO). The company allotted 1.87 crore shares at Rs 332 apiece to 43 anchor investors, setting the stage for its highly anticipated IPO.
Anchor Investors and Allocation
Goldman Sachs India Equity Portfolio and Prudential Hong Kong Asia Pacific Active Growth Equity Portfolio- AHAPAG- Eastspring Growth Equities Team received the highest allocation of 8.06% each. Franklin India Small Cap Fund and Franklin India Opportunities Fund got the second highest allotment of 6.45%, while UTI Value Fund received a 4.62% stake in the company.
Nine domestic mutual funds applied through 22 schemes, collectively netting 52.39% of the anchor portion. Kotak Mahindra, Franklin India, Nippon Life India, and UTI were among the top fund houses in this category.
IPO Details: Price Band, Lot Size, and Listing
The company will launch its IPO on Tuesday to raise up to Rs 2,079 crore through a mix of fresh issue and offer for sale. The price band for the three-day IPO is set at Rs 315 to Rs 332 per share, with a minimum application lot size of 45 shares.
The offer, which concludes on Thursday, is set to list on the BSE and the National Stock Exchange. 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.
Utilization of Funds: Expansion Plans and Growth Strategy
Vikram Solar will utilize Rs 770 crore from the fresh issue to invest 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.
The company plans to invest an additional Rs 595 crore to expand capacity to 6,000 MW at the project site. The remaining amount will be used for general corporate purposes, further solidifying its position in the renewable energy sector.
About Vikram Solar: A Leading Player in the Solar Industry
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, Vikram Solar won contracts from prominent government entities, including NTPC Renewable Energy Ltd. and NLC India Ltd. The company has two solar PV module manufacturing facilities located in West Bengal and Tamil Nadu, and a solar cell manufacturing facility with two units in Gangaikondan, Tamil Nadu.
Key Takeaways for Indian Investors
The Vikram Solar IPO offers an opportunity for Indian investors to participate in the growth of the renewable energy sector. With a strong track record, expanding manufacturing capacity, and a robust order book, the company is well-positioned for future growth.
However, as with any investment, it’s essential to evaluate the company’s financials, industry trends, and market conditions before making an informed decision. Indian investors can visit our website for more information on the IPO, including the latest news and updates.
Conclusion
The Vikram Solar IPO is a significant event in the Indian stock market, offering investors a chance to be a part of the country’s growing renewable energy sector. As the IPO launches on Tuesday, Indian investors will be closely watching the developments, and we will provide updates and insights to help them make informed decisions.