Vikram Solar, a leading Kolkata-based solar energy company, will soon have an initial public offering (IPO). They’ve filed their draft red herring prospectus (DRHP) with SEBI, aiming to raise ₹1,500 crore through an IPO.
They have been in the solar industry for over 15 years. The IPO proceeds will fund an expansion of solar cell and module manufacturing capacity and general corporate purposes.
The company has a strong track record. They’ve grown their manufacturing capacity from 12.00 MW in 2009 to 3.50 GW as of the DRHP filing. Vikram Solar is a Tier 1 manufacturer as per BloombergNEF. To meet increasing demand, they’re expanding their capacity further. By 2027, they aim to reach 15.50 GW. This includes a new solar cell manufacturing plant in Tamil Nadu.
Vikram Solar has a wide customer base, serving both public and private clients. They’ve executed over 275 projects, totaling 1.03 GW capacity. The company is committed to sustainability. They have been endorsed by the UN Global Compact and approved by the Science Based Targets Initiative (SBTI).
Vikram Solar, with a substantial order backlog and a burgeoning market, is well-positioned for continued expansion. Their initial public offering could represent a significant milestone in their corporate trajectory.
Reference- Vikram Solar website, Agency PR, Mercom India, Moneycontrol.com