Vikram Solar IPO Day 1 Live: The initial public offering for solar module manufacturer Vikram Solar will be open for subscription from August 19 to August 21. Vikram Solar IPO price band has been established between ₹315 and ₹332 per share.
The Vikram Solar IPO features new equity issues amounting to ₹1,500 crore and an offer for sale (OFS) of more than 1.74 crore shares, which is estimated to be around ₹579.37 crore at the highest point of the price range, provided by its promoters.
Regarding the fresh equity issuance, the company intends to utilize the funds to support capital expenditures for investments in its fully-owned subsidiary, VSL Green Power Private Ltd, across both Phase I and Phase II of the project.
Vikram Solar began its manufacturing journey in 2009, starting with a solar PV module manufacturing capacity of 12 MW, which has expanded to an installed capacity of 4.50 GW to date.
The book-running lead managers for the IPO include JM Financial, Nuvama Wealth Management, UBS Securities, Equirus Capital, and PhillipCapital, with Link Intime India serving as the registrar.
(Stay tuned for more updates)
