Mumbai, August 13, 2025: Vikram Solar has fixed the price band of ₹315/- to ₹332/- per Equity Share of face value ₹10/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, August 19, 2025, for subscription and close on Thursday, August 21, 2025. Investors can bid for a minimum of 45 Equity Shares and in multiples of 45 Equity Shares thereafter.
The IPO is a mix of fresh issue of shares up to Rs 1,500 crore and an offer for sale up to 1,74,50,882 equity shares promoter and promoter group selling shareholders. The offer also includes a subscription reservation by eligible employees in the employee reservation portion.
The proceeds from the fresh issue to the extent of Rs 769.73 crore for partial funding of capital expenditure through investment in its wholly owned Subsidiary, VSL Green Power Private for the Phase-I Project; Rs 595.21 crore for funding of capital expenditure through investment in its wholly owned Subsidiary, VSL Green Power Private for the Phase-II Project; and general Corporate Purposes.
Vikram Solar Limited commenced its manufacturing operations in 2009 with an installed solar PV module manufacturing capacity of 12.00 MW, grown to 4.50 GW installed capacity, as of the date.It is one of India’s largest solar photo-voltaic (“PV”) modules manufacturers in terms of operational capacity. It has two solar PV module manufacturing facilities located in West Bengal and in Tamil Nadu and a solar cell manufacturing facility with two units, in Gangaikondan, Tamil Nadu. It has established a pan-India presence, serving 19 states and two union territories.
JM Financial Limited, Nuvama Wealth Management Limited, UBS Securities India Private Limited, Equirus Capital Private Limited and PhillipCapital (India) Private Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.
