Vikram Solar IPO
Vikram Solar Limited, a leading solar energy solutions provider, has announced its initial public offering (IPO), which will open for subscription on August 19, 2025. The company aims to raise approximately ₹2,079.37 crore through this public issue, which will close on August 21, 2025. The shares are proposed to be listed on both BSE and NSE, with an expected listing date of August 26, 2025.
The move comes on the back of the company’s strong financial performance, with the company reporting a significant 75% growth in its profit after tax (PAT) for the financial year ending March 31, 2025.
Vikram Solar IPO and Offer Details
This IPO is a combination of a fresh issue of shares and an offer for sale (OFS) by existing shareholders.
* Price band: The issue has been priced at ₹315 to ₹332 per share.
* Fresh issue: The company will issue fresh shares worth up to ₹1,500 crore.
* Offer for sale (OFS): Existing shareholders will sell up to 1.75 crore shares, raising a total of up to ₹579.37 crore.
* Lot size: Investors can bid for a minimum of 45 shares and in multiples thereof. For retail investors, it will be a minimum investment of ₹14,940 at the upper end of the price band.
* Investor quota: The net offer is reserved up to 50% for qualified institutional buyers (QIBs), not less than 35% for retail individual investors (RIIs), and not less than 15% for non-institutional investors (NIIs).
Use of Funds(Vikram Solar IPO Objectives)
Vikram Solar plans to use the net proceeds from the fresh issue primarily for capital expenditure to expand its manufacturing capacities. Its key objectives are:
* Phase-I Project: Part funding of capital expenditure of ₹769.73 crore.
* Phase-II Project: Funding capital expenditure of ₹595.21 crore.
* General Corporate Purpose: The balance amount will be used for general corporate requirements.
Financial Growth Details
The company’s financial statements indicate a strong growth trajectory. For the financial year ending March 31, 2025, Vikram Solar reported:
* Profit after tax (PAT): ₹139.83 crore, a significant increase from ₹79.72 crore in the previous year.
* Total Revenue: ₹3,459.53 crore, an increase of 37% from ₹2,523.96 crore in FY24.
* EBITDA: ₹492.01 crore, up from ₹398.58 crore in the previous year.
* Net Worth: The company’s net worth increased from negative ₹0.10 crore in the previous year to ₹0.86 crore, indicating a significant financial turnaround.
About Vikram Solar
Founded in 2005, Vikram Solar is a leading domestic manufacturer of solar photovoltaic (PV) modules. The company has a diversified business model that includes:
* PV Module Manufacturing: Specializing in high-efficiency solar modules for both domestic and international markets.
* EPC Services: Providing complete engineering, procurement and construction solutions for solar power projects.
* Operations and Maintenance (O&M): Providing services to ensure the longevity and performance of solar power installations.
With this IPO, Vikram Solar is set to capitalise on the growing demand for renewable energy and strengthen its position in the global solar market.