Vikram Solar, a leading solar panel manufacturer in India, has launched its IPO with a price band of ₹315-332 per share. The offer will remain open until August 21st. The company aims to raise ₹1,500 crore of fresh capital through the IPO to expand its production capacity and grow in the clean energy sector. The estimated market cap is ₹12,009 crore.
Latest IPO News: Vikram Solar's IPO opens today, with a price band of ₹315-332 per share, and will remain open until August 21st. The company manufactures solar panels and photovoltaic modules and is active in the rapidly growing clean energy sector. The issue aims to raise ₹2,079 crore, comprising ₹1,500 crore of fresh capital and ₹579 crore through an offer for sale. The estimated market cap post-IPO is ₹12,009 crore.
Share Price Details
The company has fixed the price band for this public issue at ₹315 to ₹332 per share. This means investors will have to bid within this range to purchase the shares. The face value of each share is ₹10.
The total issue size of Vikram Solar's IPO is ₹2,079 crore, which includes a fresh issue of ₹1,500 crore. The remaining ₹579 crore will be offered for sale by existing shareholders.
Lot Size Details
The lot size for investing in the IPO is set at 45 shares. This means that any investor must bid for a minimum of 45 shares. If an investor purchases the minimum of one lot, they will have to invest approximately ₹14,940. The maximum limit for purchase is capped at 13 lots.
Prior to the IPO opening, anchor investors invested approximately ₹621 crore in the issue. This has provided the company with initial stability. The anchor investment signals to the market that large investors are confident in the company's growth and business model.
Company Market Cap
The company's estimated market cap post-IPO is expected to be around ₹12,009 crore. This figure indicates the potential strength of Vikram Solar's presence in the emerging solar energy sector.
Vikram Solar is one of the select few companies in India that manufacture solar panels and photovoltaic modules on a large scale. The company's main focus is on generating electricity through solar energy and making it accessible to more people. This sector is growing rapidly, as both the government and industry are emphasizing clean energy.
Surge in the Energy Sector
The importance of clean energy has increased rapidly in recent years. Amidst problems like pollution and climate change, the demand for solar energy is increasing worldwide. India is also working on a large scale in this direction. In such an environment, companies like Vikram Solar are getting a good opportunity to expand.
Use of Funds Raised through IPO
The company will use the funds raised from this public issue to increase its production capacity, invest in new projects, and accelerate its future plans. Given the increasing demand, the company needs to double its capacity, and this IPO could prove to be a major step in that direction.
