Vikram Solar IPO: Vikram Solar Ltd has filed its IPO application with SEBI. In this IPO, there will be a fresh issue of Rs 1500 crore, while under its offer for sale, the promoters and other shareholders of the company will sell 5 crore shares. Apart from this, the company can also come up with a pre-IPO placement of Rs 300 crore.
As part of the offer for sale portion of the company, Anil Chaudhary will sell 36.2 lakh shares while Girish Kumar Madhogaria will sell 2.58 lakh shares. Whereas Pushpa Madhogaria will sell 1.27 lakh shares while Vikram India Ltd will sell 10 lakh shares.
Out of the proceeds of this IPO, Rs 1,238.80 crore will be used to set up a solar cell and solar module production unit to be set up in Tamil Nadu. Please tell that these units will be a company owned branch VSL Green Power Pvt Ltd.
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JM Financial and Kotak Mahindra Capital are the book running lead managers of this IPO. It is worth noting that Vikram Solar is India’s largest module production company. Which provides various types of solar energy solutions to its customers.
The company’s share in the domestic market was around 19 per cent as of December 2021. The company is also focusing on increasing its penetration in overseas markets. For this, it has opened its sales offices in countries like America, China. The company has supplied solar PV modules to its customers in 32 countries.
The company has 2 production units. Of which the first Falta is in Kolkata. Which has a current capacity of 1.2GW. The company is working to increase its capacity to 3GW by 2023. The company’s second unit is in Tamil Nadu. Apart from this, the company is working on plans to set up another 2GW unit.
If we look at the performance of the company, the total income of the company was Rs 1,610.14 crore in FY 2021 as compared to Rs 1,639.68 crore in FY 2020. The company’s net profit in FY21 was Rs 56.20 crore as against Rs 30.44 crore in its previous year.
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