IPO Proceeds & Expansion Strategy :
1. New Integrated Facility: ₹793.36 crore for setting up a 3 GW solar cell and 3 GW module manufacturing facility in Tamil Nadu.
2. Phase II Expansion: ₹602.95 crore to expand module manufacturing from 3 GW to 6 GW.
3. Other Uses: Remaining funds for corporate purposes and strengthening execution capabilities.
Operational Scale & Financial Performance :
• Current installed capacity: 4.5 GW (Kolkata + Chennai)
• Target capacity: 10.5 GW by FY2026 and 15.5 GW by FY2027
• FY24 Revenue: ₹2,510.99 crore (↑21.1% from FY23)
• EBITDA: ₹398.58 crore (from ₹186.18 crore in FY23)
• Global Reach: Presence in 39+ countries
What This Means for Investors :
Vikram Solar’s IPO is a significant opportunity in the renewable energy space. The company’s robust financials, strong market presence, and aggressive expansion plans position it well for future growth. Its backward integration strategies and advanced product portfolio make it a compelling investment for those looking to tap into India’s clean-tech sector.
Summary Table :
Factor | Details |
IPO Dates | Aug 19–21, 2025 |
Price Band | ₹315–₹332 per share |
Fresh Issue | ₹1,500 crore |
OFS | 1.745 crore shares by promoters |
Key Uses of Funds | New facility, expansion, corporate needs |
Capacity Targets | 4.5 GW → 10.5 GW (FY26) → 15.5 GW (FY27) |
FY24 Revenue | ₹2,510.99 crore |
EBITDA Growth | ₹186 crore → ₹398 crore |
