Vikram Solar filed Draft papers for IPO to SEBI and plans to raise funds upto Rs. 1,500 crore

Vikram Solar filed Draft papers for IPO to SEBI and plans to raise funds upto Rs. 1,500 crore Vikram Solar Ltd has filed draft papers with the market regulator Securities Exchange Board of India (SEBI). The draft paper was filed by the company to seek money through an initial public offering (IPO). The company plans to raise Rs 1,500 crore through an issue of fresh equity shares and more through an offer for sale (OFS) as part of the public issue. Among the sellers of Vikram Solar shares as part of the OFS will also be Anil Chaudhary — part of the promoter group. Vikram Solar is a domestic module manufacturer. The company manufactures solar photovoltaic (PV) modules and is an integrated solar energy solutions provider offering engineering, operations and maintenance services, and procurement and construction services. The company said it has a global footprint through a sales office in the United States of America and a procurement office in China and has supplied solar PV modules to customers in 32 countries, as of December 31, 2021. About Vikram Solar Vikram Solar Limited, one of India’s largest module manufacturers, in terms of operational capacity filed its DRHP with SEBI on Thursday. Vikram Solar is a leading domestic module manufacturer. It produces solar photo-voltaic (PV) modules and is an integrated solar energy solutions provider offering engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) services. The company has plants in West Bengal and Tamil Nadu. One in Falta, Kolkata, with a current capacity of 1.2GW and expects to upgrade the production unit to 3GW by fiscal 2023. The second plant is in Tamil Nadu, where a new 2GW facility is planned.