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IPO Insights: Upcoming Issues & Smart Investment Tips

Vikram Solar Gets SEBI Nod for IPO

Geetanjali Lachke

Vikram Solar, an entity operating within India's renewable energy sector, has received approval from the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). This regulatory clearance allows the company to proceed with its public offering. 

Key Highlights of Vikram Solar’s IPO

  • SEBI Approval: On May 29, 2025, SEBI issued an observation letter for Vikram Solar's IPO.

  • IPO Structure: The IPO comprises both a fresh issue of ₹1,500 Crores worth of shares and an offer for sale of up to 17.45 million equity shares by existing shareholders.

  • Purpose of Funds: The funds raised are proposed for capital expenditure and for expanding Vikram Solar's manufacturing facilities in Tamil Nadu.

Financial Overview of the IPO

The table given below outlines the main components of Vikram Solar's IPO, including the fresh issue of shares, the offer for sale, and the breakdown of how the raised funds will be utilised.

IPO Component

Amount

Fresh Issue of Shares

₹1,500 Crores

Offer for Sale by Existing Shareholders

17.45 million shares

Use of Proceeds

₹793.36 Crores for capital expenditure, ₹602.95 Crores for facility expansion in Tamil Nadu

Note: This financial data is presented for informational purposes only and should not be interpreted as investment advice or a recommendation.

Expansion Plans and Growth Strategy

Vikram Solar's IPO proceeds are designated for the initial phase of its expansion in Tamil Nadu. The company is developing a 3,000 MW solar cell and module manufacturing facility. There are intentions to increase the production capacity to 6,000 MW by 2026.

Additionally, Vikram Solar is undertaking backward integration initiatives, including the establishment of a 3,000 MW solar cell manufacturing unit. This forms part of its activities within the solar value chain.

Financial Performance

For the fiscal year 2023-24, Vikram Solar's revenue from operations increased by 21.11%, reaching ₹2,510.99 Crores, compared to ₹2,073.23 Crores in the preceding year. The company’s EBITDA also increased to ₹398.58 Crores as of March 31, 2024, from ₹186.18 Crores in the previous year.

Vikram Solar's IPO is an important event for the renewable energy sector in India. Consideration of the risks involved in any investment is relevant. This IPO is part of broader developments related to India's renewable energy objectives.

Disclaimer

This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.

Sources

  • https://www.businesstoday.in/markets/ipo-corner/story/vikram-solar-gets-sebi-nod-for-up-to-rs-1500-crore-ipo-478860-2025-06-03

  • https://www.outlookbusiness.com/markets/hdb-financial-services-vikram-solar-4-others-get-sebi-nod-for-ipo

Hi! I’m Geetanjali Lachke
Financial Content Specialist

Geetanjali is an emerging content writer with a passion for writing and marketing. She focuses on crafting clear, engaging blog posts and articles that simplify complex topics, particularly in finance and business. Geetanjali is dedicated to delivering insightful content that helps readers understand and navigate critical concepts, empowering them to make informed decisions and stay ahead in the ever-evolving landscape of finance and business.

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