Vikram Solar, one of India’s leading solar photovoltaic (PV) module manufacturers, is set to launch its Initial Public Offering (IPO). The company plans to raise ₹1,500 crores through this IPO.
Established in 2006 and headquartered in Kolkata, West Bengal, Vikram Solar manufactures high-efficiency solar panels and provides EPC and O&M services.
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Competing with Tata Power Solar, Adani Solar, and Reliance Solar, Vikram Solar has exported 3.5 GW of modules across six continents.
Vikram Solar is one of India's largest solar photovoltaic (PV) module manufacturers and an integrated solar energy solutions provider. The company specializes in producing high-quality solar PV modules and offers Engineering, Procurement, and Construction (EPC) as well as Operations and Maintenance (O&M) services. With a growing presence in India and internationally, Vikram Solar is well-positioned to capitalize on the booming renewable energy market.
Vikram Solar operates manufacturing plants in West Bengal and Tamil Nadu, with a total solar module production capacity of 2.5 GW. The company has expanded its reach beyond India by establishing a sales office in the United States and an acquisition office in China. To date, it has supplied solar PV modules to customers across 32 countries, reinforcing its global presence.
The Indian government is aggressively promoting clean and renewable energy, aiming to reduce dependence on fossil fuels like coal and oil. This policy push aligns with Vikram Solar’s mission and creates a favorable business environment for solar companies in India. With increasing investments in solar infrastructure and incentives for local manufacturing, Vikram Solar stands to benefit significantly from these initiatives.
Vikram Solar serves a mix of domestic and international clients, including major corporations, government bodies, and energy utilities. The company has also worked with several high-profile international clients, strengthening its position as a trusted global supplier of solar PV modules.
According to banking sources, Vikram Solar has filed draft papers with SEBI (Securities and Exchange Board of India) for an Initial Public Offering (IPO). The IPO size is expected to be around ₹2,000 crore, consisting of a mix of fresh share sales and stake sales by promoters. The company is likely to issue new shares worth ₹1,800 crore, while the remaining portion will come from existing shareholders offloading their stake.
The company’s major shareholders include promoters and institutional investors who hold a significant portion of Vikram Solar’s equity. With continued business expansion, shareholders are expected to benefit from the company’s growing market influence.
As Vikram Solar continues to scale its operations and financial performance, investors have an opportunity to invest in its unlisted shares before its IPO. For those looking to enter the renewable energy sector, Vikram Solar presents a strong growth potential in a rapidly expanding market.
If you’re interested in investing in Vikram Solar’s unlisted shares, visit Stocky to explore available opportunities.
