Vikram Solar Limited’s IPO to Open on 12th August 2025

News Desk, News Nation 360 : Vikram Solar Limited has set the price range for its first IPO at ₹315/- to ₹332/- per equity share with a face value of ₹10/-each. Promoters and promoter group selling stockholders can purchase up to 1,74,50,882 equity shares as part of the initial public offering (IPO), which also includes a fresh issue of shares up to Rs 1,500 crore. In the employee reservation section, qualified employees can also reserve a subscription as part of the offer. Vikram Solar Limited started producing solar PV modules in 2009 with a 12.00 MW installed capacity. As of right now, the company has grown to a 4.50 GW installed capacity. The proceeds of Vikram Solar's new issue will be partially used for capital expenditure through investments in its wholly owned

subsidiary, VSL Green Power Private Limited, out of which ₹769.73 crore is earmarked for the Phase-I Project and ₹595.21 crore for the Phase-II Project, along with general corporate purposes. As one of India's leading solar photovoltaic (PV) module manufacturers, Vikram Solar has over 17 years of experience in the industry and a strong installed manufacturing capacity of 4.50 GW for solar PV modules, of which 2.85 GW are listed under the Ministry of New & Renewable Energy's Approved List of Modules and Manufacturers (ALMM) as on June 30, 2025. The organisation has repeatedly been rated as a Tier 1 manufacturer in BloombergNEF reports since Q1 2014, most recently in Q1 2025, and received the distinguished EUPD Top Brand PV Seal in May 2025. Vikram Solar's revenue from operations increased 36.34% from ₹2,510.99 crore during Fiscal 2024 to ₹3,423.45 crore during Fiscal 2025, led mainly by higher module sales in the local market, and profit after tax increased 75.41% from ₹79.72 crore to ₹139.83 crore over the same period. The firm is aggressively expanding its manufacturing capacity with plans to scale up to 15.50 GW by FY26 and 20.50 GW by FY27, including solar cell manufacturing and energy storage initiatives.

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