Vikram Solar is a leading domestic manufacturer module that gets approval from the Securities Exchange Board of India (SEBI) to raise funds through the Initial Public Offer (IPO). Vikram Solar filed the draft prospectus in March of this year. For a fresh issue, IPO consists of up to Rs 1,500 crore and an offer for sale (OFS) of up to 5,000,000 equity shares by all shareholders. Last week, Vikram Solar obtained its letter of observation, as per SEBI data.

This company produces photovoltaic (PV) and is an integrated solar energy solution which provides two services named engineering, procurement and construction (EPC) services and operations and maintenance (O&M) services. As of 31 December 2021, the company has a global footprint and a procurement office in China. The company also has solar PV modules for customers in 32 countries worldwide. NTPC, Rays Power Infra, Amp Energy India, Azure Power India, West Bengal State Electricity Distribution Company Ltd, Solar Energy Corporation of India, Hindustan Petroleum Corporation Ltd and Keventer Agro. The company’s international customers include Amp Solar Development Inc, Safari Energy LLC, Standard Solar Inc and Southern Current; these all are customers of Vikram Solar.

JM Financial Limited and Kotak Mahindra Capital Company are booked as lead managers for public issues. All company equity shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). In the current fiscal year, 11 debutantes have gone public to garner Rs 33,254 crore, Rs 20,557 crore raised by a public issue of Life Insurance Corporation of India (LIC).