Subscribe
24NEWSHOUR 24NEWSHOUR
Write For Us
  • Home
  • Business
  • Education
  • Entertainment
  • News Update
  • Others
    • Technology
    • Health & Lifestyle
  • Write For US
  1. Home
  2. Business
  3. Vikram Solar gets Sebi nod to mop-up funds via IPO
Business

Vikram Solar gets Sebi nod to mop-up funds via IPO

New Delhi, Aug 19 (PTI) Vikram Solar has received capital markets regulator Sebi’s go ahead to raise funds through an initial public offering (IPO).

The IPO consists of a fresh issue of up to Rs 1,500 crore and an Offer-for-Sale (OFS) of up to 50 lakh equity shares by the selling shareholders.

Vikram Solar, which filed preliminary IPO papers with the markets regulator in March, obtained its observation letter on August 10, an update with the Securities and Exchange Board of India (Sebi) showed on Wednesday.

In Sebi’s parlance, its observations imply its go ahead to float the IPO.

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.

Going by the draft papers, proceeds from the fresh issue will be utilised for setting up an integrated solar cell and solar module manufacturing facility with an annual production capacity of 2,000 MW.

The company has a global footprint through a sales office in the US and a procurement office in China and has supplied solar PV modules to customers in 32 countries, as of December 31, 2021.

In India, the company’s customers include 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.

As of December 2021, the company had an order book of Rs 4,870 crore.

JM Financial Limited and Kotak Mahindra Capital Company Ltd are the book running lead managers to the public issue. The equity shares will be listed on BSE and NSE.

Previous post
Next post

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • ALLEN Global Launch Event in Jaipur Resounds Across Education Sector and Beyond
  • Bollywood megastar and Kalyan Jewellers’ brand ambassador Amitabh Bachchan unveils Mr. T S Kalyanaraman’s autobiography ‘The Golden Touch’
  • Aster to separate its India and GCC businesses to unlock value; announces agreement for Fajr Capital-led consortium to invest in Aster GCC
  • Axis Mutual Fund Launches ‘Axis India Manufacturing Fund
  • “TATA AIG Launches “Health Supercharge’ – Providing 5X Enhanced Coverage for Your Well-being
Latest News
Education

ALLEN Global Launch Event in Jaipur Resounds Across Education Sector

December 1, 2023
Business

Bollywood megastar and Kalyan Jewellers’ brand ambassador Amitabh Bachchan unveils

November 30, 2023
Business

Aster to separate its India and GCC businesses to unlock

November 30, 2023
Business

Axis Mutual Fund Launches ‘Axis India Manufacturing Fund

November 30, 2023
24NEWSHOUR 24NEWSHOUR

Get The Post

Business
Education
News Update

Quick Links

About Us
The News Strike
The News Equity

Follow Us

© Copyright 2023. All rights reserved.
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}