Vikram Solar, one of India’s leading solar photovoltaic (PV) module manufacturers, has received approval from SEBI to raise funds through an Initial Public Offering (IPO). Vikram Solar IPO aims to raise Rs 2,000 crore, including Rs 1500 crore in fresh issues and 17.45 million shares by its promoter group.
Let’s explore various aspects of Vikram Solar IPO from an investor’s point of view:
Vikram Solar IPO Details
Vikram Solar IPO Price Band: Vikram Solar IPO is a book-built issue, which is expected to be announced near the IPO date. When the IPO opens, interested investors can choose the price given within the price band to apply for the IPO.
Vikram Solar IPO Date: Vikram’s IPO is yet to be announced. As of now, the open date and close date are not yet finalised.
Vikram Solar IPO Issue Size: Vikram Solar aims to raise ₹2,000 crores. This includes ₹1500 crore in fresh issues and a 17.45 million Offer for Sales shares by promoters.
OFS comprises selling up to 3.62 million shares by Anil Chaudhary, up to 2.58 lakh shares by Girish Kumar Madhogaria, up to 1.27 lakh by Pushpa Madhogaria, up to 1 million shares by Vikram India Ltd.
Objectives Of Vikram Solar IPO
The freshly generated funds will be used in the following ways:
A) New Manufacturing Facility: Rs 793.36 crores will be used for capital expenditure to invest in a wholly owned subsidiary, VSL Green Power Pvt Ltd., for establishing a 3000 MW solar cell and module manufacturing facility.
B) Expansion of Existing Manufacturing Facility: Rs 602.9 crores will be used to expand the solar module manufacturing capacity from 3000 MW to 6000 MW.
C) Other general corporate purposes.
Vikram Solar Financial Growth
- Revenue grew by 21.11% to Rs 2,510.99 Cr. in FY24 from Rs 2,073 Cr. in FY23
- EBITDA grew from Rs 186 Cr. in FY23 to Rs 399 Cr.
- Share of Exports in Revenue: 61.58%.
About Vikram Solar
Vikram Solar Limited (formerly known as Vikram Solar Pvt. Ltd.) is India’s largest domestic PV module manufacturer and integrated solar energy solutions provider with a presence in solar photovoltaic (“PV”) modules, engineering, procurement, and construction (“EPC”) services, and operations and maintenance (“O&M”) service. With an international presence across 6 continents, they are an active contributor to shaping the solar revolution.
Here are some key achievements by Vikram Solar:
A) Expanded manufacturing capacity to 3.5 GW in FY 2023-24, targeting 4.5 GW by FY 2024-25 and 10.5 GW by FY 2025-26.
B)1,400 MW of EPC Projects in the portfolio -commissioned
C)700 MW+ O&M projects in the portfolio -ongoing
D)Eligible for key subsidies, including PLI for our 2.4 GW solar facility, and TNGO, bolstering our growth and innovation prospects.
E)Top Performer in PVEL’s PV module reliability score
A Quick Look At Vikram Solar IPO’s Risk & Strengths
Risk Factors
- Their future performance depends on cost-effectively building scalability and manufacturing facilities.
- Global pandemics like the current one and unfavourable economic conditions can lower the company’s profit potential.
- The company’s sustainability depends mainly on the continuation of favourable government policies.
Strengths
- One of India’s largest solar module manufacturers with a strong order book.
- Robust financial performance, backed by strong brand recognition and a proven track record.
- Diversified business, ability to provide EPC and O&M services as an additional value add-on.
Possible To Buy Vikram Solar Shares before IPO?
Currently, Vikram Solar is not listed in the stock market. However, investors can buy pre-IPO shares and own Vikram Solar shares before they get traded in the listed market.
Interested Investors can buy Vikram Solar Unlisted Shares by clicking here. Investors can check the details of other pre-IPO shares at Stockify.
Vikram Solar IPO FAQs
Q1:Is Vikram Solar public?
Vikram Solar is not yet listed on any stock exchange, so it is not public.
Q2: Is it good to invest in Vikram Solar?
Vikram Solar is one of the most actively traded shares in the unlisted market. You can invest in Vikram Solar Unlisted Shares.
Q3: What is the profit of Vikram Solar?
In FY24, Vikram Solar’s Profit After Tax(PAT) is Rs 80 crore, which is more than 5X of FY23 profit of Rs 15 crore.
Q3: Is it legal to buy unlisted shares of Vikram Solar in India?
Yes, this is 100% legal and safe to buy unlisted shares of Vikram Solar Ltd. However, this is applicable when you buy Vikram Solar Ltd unlisted shares from reliable and known unlisted share dealers. You can request a quote or trade online at Stockify. We are ready to assist you.
