Latest news with #GyaneshChaudhary
The Hindu
a day ago
- Business
- The Hindu
Vikram Solar to hit market with ₹2,000-crore IPO
Solar PV module manufacturer Vikram Solar Ltd. has announced to tap the capital market to raise ₹2,000 crore via an Initial Public Offering (IPO). The IPO to open on August 19. is a mix of fresh issue of shares up to Rs. 1,500 crore and an offer for sale of up to 1,74,50,882 equity shares by the promoter and promoter group selling shareholders. The price band has been set at ₹315 to ₹332 per equity share of face value ₹10 each. The IPO will close on August 21. Out of the proceeds of the fresh issue, about Rs 770 crore will go for partial funding of capital expenditure through investment in the company's wholly owned subsidiary, VSL Green Power Private Ltd. for the Phase-I of the project, about Rs 595 crore for funding of capital expenditure through investment in the wholly owned Subsidiary, VSL Green Power Private Ltd for the Phase-II Project; and the rest will be for general Corporate Purposes. In 2009 the company commenced its manufacturing operations in 2009 with an installed capacity of 12 MW and the current installed capacity is 4.50 GW. It has two solar PV module manufacturing facilities located in West Bengal and in Tamil Nadu. A solar cell manufacturing facility with two units is under construction in Gangaikondan, Tamil Nadu. The company's revenue from operations increased by 36.34% from ₹2,510.99 crore in FY24 to ₹3,423.45 crore in FY25 primarily due to an increase in the volume of module sales in the domestic market. Profit after tax increased by 75.41% from ₹79.72 crore in FY25 to ₹139.83 crore in FY25. Gyanesh Chaudhary, CMD, Vikram Solar Ltd said, 'By FY27 the company will have 17.5 GW of module capacity and 12 GW of cell manufacturing capacity. We are having huge demand from the domestic market.' Asked to comment on the likely impact of the US tariff on the company he replied in negative saying 'we do not export anything to the US so there will be no impact.' On US investigation into alleged dumping by Indian solar panel manufacturers he said the allegations were baseless as the entire Indian industry last year only exported only 2GW of panels to the US which was insignificant as compared to huge imports by that country from the entire world. 'The US has been investigating against many countries including India. It started with China and now even small countries like Laos are being investigated,' he said.
Economic Times
a day ago
- Business
- Economic Times
Vikram Solar says co evaluating plans to set up manufacturing unit in the US
Representative image. Solar photovoltaic modules maker Vikram Solar is evaluating plans to set up operations in the US, company chairman and managing director Gyanesh Chaudhary told ET. "We are evaluating our plans to set up operations in the US and looking at how things will pan out in the light of the tariffs," Chaudhary said on to sources, Vikram Solar was planning to invest around $1.5 billion in setting up a 3 GW (gigawatt) solar photovoltaic modules plant in the US as part of the company's expansion plan of 15.5 GW module and 5 GW cell capacity by fiscal year however declined to comment on the investments being planned in the possible US facility. The company, which has filed a draft prospectus for its initial public offer, has a 4.5 GW module manufacturing capacity across its two plants in Bengal and Tamil Nadu. It has a sales office in the US which is also its largest export market, contributing around 61.10% of the company's total revenue from operations as of Wednesday the company fixed a price band of Rs 315 to Rs 332 per share for its upcoming Rs 2,079 crore initial public offering (IPO). The Kolkata-based firm's maiden public issue would open for subscription on August 19 and conclude on August 21, it IPO will include fresh issues of equities worth up to Rs 1,500 crore and an offer for sale (OFS) of over 1.74 crore shares valued at around Rs 579.37 crore at the upper end of the price band, by its promoters. Of the fresh issuance, the company plans to use the proceeds for funding capital expenditure for investment in its wholly owned subsidiary, VSL Green Power Private Ltd, for both Phase I and Phase II of the project. Vikram Solar commenced its manufacturing operations in 2009 with an installed solar PV module manufacturing capacity of 12 MW, grown to 4.50 GW installed capacity as of the date. The company said its key domestic customers include prominent government entities, such as NTPC, Neyveli Lignite Corporation, and Gujarat Industries Power Company and private independent power producers (IPPs), like ACME Cleantech Solutions Adani Green Energy, Azure Power India, JSW Energy and Rays Power Infra, among others. The company is also planning to enter the battery energy storage systems (BESS) segment as a strategy to diversify its portfolio. It plans to start with a 1 GW BESS facility which will be scaled up to 10 GW or more.
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Business Standard
a day ago
- Business
- Business Standard
Vikram Solar sets IPO price band at ₹315-332, opens Aug 19: Check details
Vikram Solar IPO: Vikram Solar, a Kolkata-based solar photo-voltaic company, has set the price band for its maiden public issue in the range of ₹315 to ₹332 per equity share. The company aims to raise ₹2,079.37 crore through a combination of fresh issue of 45.2 million equity shares worth ₹1,500 crore and offer for sale (OFS) of 17.5 million shares worth ₹579.37 crore. Gyanesh Chaudhary, Vikram Capital Management, and Anil Chaudhary are the promoter selling shareholders. According to the red herring prospectus (RHP), the company has reserved not more than 50 per cent of the issue for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors (NIIs). MUFG Intime India is the registrar for the issue. JM Financial, Nuvama Wealth Management, UBS Securities India, Equirus Capital, and PhillipCapital (India) are the book-running lead managers. According to the RHP, the issue will open for subscription on Tuesday, August 19, 2025, and close on Thursday, August 21, 2025. The anchor investor period shall be one day prior to the opening date, i.e. Monday, August 18, 2025. The basis of allotment of shares is likely to be finalised on Friday, August 22, 2025. The stock will be listed on the National Stock Exchange (NSE) and BSE, tentatively on Tuesday, August 26, 2025. The lot size for an application is 45 shares. Accordingly, a retail investor would require a minimum investment amount of ₹14,940 to bid for one lot or 45 shares. The company plans to utilise ₹769.73 crore from the net fresh issue proceeds for investment in its wholly owned subsidiary, VSL Green Power, for the Phase-I Project and ₹595.2 crore for the Phase-II Project. The remaining funds will be used for general corporate purposes. About Vikram Solar Incorporated in 2005, Vikram Solar is a solar photo-voltaic (PV) module manufacturing company. It operates two solar PV module manufacturing facilities located in West Bengal and in Tamil Nadu with 4.50 GW of installed manufacturing capacity. The company also provides Engineering, Procurement, and Construction (EPC) services for solar power projects, ensuring efficient project execution from design to commissioning. It offers operations and maintenance (O&M) services to optimise the performance and longevity of solar power installations. The company has a presence across 23 states and three union territories, through a distributor network of 41 authorised distributors, 64 dealers and 67 system integrators. Vikram Solar's domestic customers include prominent government entities, such as National Thermal Power Corporation, Neyveli Lignite Corporation and Gujarat Industries Power Company, and large private independent power producers (IPPs), such as ACME Cleantech Solutions. In the fiscal 2024-25 (FY25), Vikram Solar reported revenue from operations of ₹3,423.4 crore, up 36.3 per cent from ₹2,510.99 crore in the previous fiscal. The company posted profit after tax (PAT) of ₹139.8 crore, up 75 per cent compared to ₹79.7 crore in the FY24.
Mint
a day ago
- Business
- Mint
Vikram Solar IPO: Price band set at ₹315-332 per share; check GMP, issue details, more
Vikram Solar IPO price band has been fixed in the range of ₹ 315 to ₹ 332 per equity share of the face value of ₹ 10. The Vikram Solar IPO date of subscription is scheduled for Tuesday, August 19, and will close on Thursday, August 21. The allocation to anchor investors for the Vikram Solar IPO is scheduled to take place on Monday, August 18. The floor price is 31.50 times the face value of the equity shares and the cap price is 33.20 times the face value of the equity shares. The Vikram Solar IPO lot size is 45 equity shares and in multiples of 45 equity shares thereafter. Vikram Solar IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has equity shares aggregating up to ₹ 100 million. Tentatively, Vikram Solar IPO basis of allotment of shares will be finalised on Friday, August 22 and the company will initiate refunds on Monday, August 25 while the shares will be credited to the demat account of allottees on the same day following refund. Vikram Solar share price is likely to be listed on BSE and NSE on Tuesday, August 26. Vikram Solar IPO comprises a fresh issue of 4.52 crore shares valued at ₹ 1,500 crore, along with an offer for sale comprising 1.75 crore shares totaling ₹ 579.37 crore from promoters Gyanesh Chaudhary, Vikram Capital Management, and Anil Chaudhary. The funds raised from the new issue will be utilized for partially funding the capital expenditures for both Phase-I and Phase-II of the project. On the other hand, the proceeds from the selling shareholders will be retained by them. At present, the promoters hold a 77.64% stake in the company, while the remaining 22.36% of the shares are owned by the public, including Arpit Khandelwal from Plutus Wealth Management. Vikram Solar IPO GMP today is +70. This indicates Vikram Solar share price were trading at a premium of ₹ 70 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vikram Solar share price was indicated at ₹ 402 apiece, which is 21.08% higher than the IPO price of ₹ 332. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Vikram Solar is a manufacturer of solar photovoltaic modules with 16 years of industry experience. As of March 31, 2025, the company has established a manufacturing capacity of 4.5 GW for solar PV modules and holds an order book amounting to 10,340.8 MW. For the fiscal year ending March 31, 2025, the company posted a net profit of ₹ 139.83 crore and generated revenue of ₹ 3,459.53 crore. During the financial year 2024-25, its net profit was ₹ 79.72 crore, with revenue totaling ₹ 2,523.96 crore. As per the red herring prospectus (RHP), the company's peers are Waaree Energies Ltd (with a P/E of 45.79), Premier Energies Ltd (with a P/E of 47.01), and Websol Energy System Ltd (with a P/E of 40.04).
Economic Times
a day ago
- Business
- Economic Times
Vikram Solar fixes Rs 315-332 price band for IPO. Check GMP, key dates, other details
Solar photo-voltaic company Vikram Solar has fixed a price band of Rs 315-322 for its upcoming initial public offering (IPO), which will open for bidding next week, on August 19. ADVERTISEMENT The issue comprises a fresh component aggregating up to Rs 1,500 crore and an offer for sale component, which will include the selling shareholders offloading 17,450,882 shares in the company. At the upper range of the price band, the selling shareholders' portion aggregates to Rs 579.36 crore, taking the total IPO size to Rs 2,079.36 crore. Investors can place bids for a minimum of 45 equity shares and in multiples of 45 thereafter. Gyanesh Chaudhary, Vikram Capital Management Private Limited, and Anil Chaudhary are the selling shareholders in the floor price for the issue has been set at 31.50 times the face value of the equity shares, while the cap price stands at 33.20 times the face on diluted EPS for FY25, the price-to-earnings ratio at the lower end of the price band (floor price) works out to 68.48 times, and at the upper end (cap price) it is 72.17 times. This compares with the average industry peer group P/E ratio of 44.28 times for FY25. ADVERTISEMENT Unlock 500+ Stock Recos on App The shares of Vikram Solar are trading at a premium of Rs 65-70 in the grey market, translating into a GMP of 19.6%. ADVERTISEMENT The Vikram Solar IPO is scheduled to open for subscription on August 19, and will close on August 21. The allotment of shares is expected to take place on August 22, with the listing date set for August 26. Vikram Solar IPO book running lead managers ADVERTISEMENT The book running lead managers for the issue are JM Financial Limited, Nuvama Wealth Management Limited, UBS Securities India Private Limited, Equirus Capital Private Limited, and PhillipCapital (India) Private Limited. The registrar to the offer is MUFG Intime India Private Limited, formerly known as Link Intime India Private of March 31, 2025, Vikram Solar stands as one of India's largest solar photovoltaic (PV) module manufacturers in terms of operational capacity, with over 17 years of industry experience. It has an installed manufacturing capacity of 4.50 GW for solar PV modules and an enlisted capacity of 2.85 GW as per the Ministry of New & Renewable Energy's Approved List of Modules and Manufacturers (ALMM). ADVERTISEMENT Established in 2009 with an initial capacity of 12.00 MW, the company has expanded to 4.50 GW as of the date of its Red Herring Prospectus. Its manufacturing facilities in Falta SEZ, Kolkata, and Oragadam, Chennai, are strategically located with access to ports, rail, and road networks, supporting both domestic and international meet growing demand, the company is pursuing greenfield and brownfield expansion projects aimed at increasing capacity to 15.50 GW by FY26 and 20.50 GW by FY27. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
