Latest news with #VikramSolar
Mint
2 days ago
- Business
- Mint
Upcoming IPOs: Vikram Solar, Shreeji Shipping and 3 other companies get SEBI go-ahead for public offer
Upcoming IPOs: The Securities and Exchange Board of India (SEBI) has recently given the green light to five firms for their initial public offerings (IPOs), indicating a strong pipeline in the Indian capital markets. These approvals cover a variety of industries, such as renewable energy, financial services, steel production, specialty chemicals, jewelry, and logistics. Vikram Solar, a manufacturer of solar modules, is launching an IPO that consists of a fresh share issuance of up to ₹ 1,500 crore and an offer for sale (OFS) of approximately 17.45 million equity shares from promoters and the promoter group. The company intends to utilize the proceeds of ₹ 793.36 crore for capital investments via its wholly-owned subsidiary, VSL Green Power Pvt Ltd, to establish a 3,000-MW facility dedicated to solar cell and module production. Moreover, ₹ 602.95 crore has been allocated for the enhancement of the current solar module manufacturing facility, increasing its capacity from 3,000 MW to 6,000 MW, along with funds designated for general corporate needs. According to the draft documents, Shreeji Shipping Global Ltd's initial public offering, which offers shipping and logistics solutions for dry bulk cargo, consists solely of a new issuance of 2 crore equity shares. The firm intends to allocate ₹ 289.4 crore from the IPO proceeds to acquire supramax dry bulk carriers in the secondary market and plans to use an additional ₹ 19.5 crore for debt repayment. Dorf-Ketal Chemicals India plans to launch an IPO worth ₹ 5,000 crore, consisting of a fresh issuance of equity shares totaling up to ₹ 1,500 crore and an Offer for Sale (OFS) of shares valued at ₹ 3,500 crore by the Menon Family Holdings Trust, according to the draft documents. The fresh issue's proceeds, amounting to ₹ 829 crore, will be utilized to reduce the company's debt, while ₹ 333 crore will be invested in its subsidiary, Dorf Ketal Chemicals FZE, to settle or prepay its existing borrowings, and the remaining funds will be allocated for general corporate needs. A-One Steels India aims to raise ₹ 600 crore by issuing new equity shares, while the promoters plan to divest shares worth ₹ 50 crore through an Offer for Sale (OFS). The company intends to allocate the net proceeds from the fresh issue towards investing in its subsidiary, Vanya Steels Pvt Ltd, for the acquisition of machinery and equipment, expanding its manufacturing facilities, and investing in Group captive power for solar energy procurement. Additionally, A-One Steels will use the funds to settle debts and for general corporate needs. Shanti Gold International, a manufacturer of gold jewellery, is launching its first public offering, which comprises solely a fresh issue of 1.8 crore equity shares, according to the draft documents. The funds raised from the fresh issue amounting to ₹ 45.83 crore will be dedicated to establishing the facility in Jaipur; ₹ 190 crore is designated for meeting the company's increased working capital needs; ₹ 20 crore will go towards debt repayment, and a portion will be allocated for general corporate purposes. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
2 days ago
- Business
- Time of India
Vikram Solar gets SEBI nod for IPO with fresh issue of ₹1,500 crore, OFS of 17.45 million shares
New Delhi: Vikram Solar Ltd has received final observation from the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO), comprising a fresh issue of shares worth up to ₹1,500 crore and an offer for sale (OFS) of up to 1.745 crore equity shares by promoter and promoter group selling shareholders. According to the draft red herring prospectus, the company plans to use ₹793.36 crore from the net proceeds for partial funding of capital expenditure via investment in its wholly owned subsidiary, VSL Green Power Private Limited. The funds will be utilised to set up a 3,000 MW solar cell and 3,000 MW solar module manufacturing facility. An additional ₹602.95 crore will be used to expand the existing solar module manufacturing facility under Phase I from 3,000 MW to 6,000 MW, also through VSL Green Power Private Limited. The remaining proceeds will be used for general corporate purposes. As of March 31, 2024, Vikram Solar had an installed manufacturing capacity of 4.5 GW for solar PV modules. The company is listed on the Ministry of New & Renewable Energy's Approved List of Module Manufacturers (ALMM) among pure-play non-captive manufacturers. The company operates manufacturing facilities at Falta SEZ in Kolkata, West Bengal, and Oragadam in Chennai, Tamil Nadu. It has plans to increase its installed capacity to 10.5 GW by fiscal 2026 and 15.5 GW by fiscal 2027. It is also setting up a 3 GW solar cell manufacturing facility in Tamil Nadu as part of its backward integration strategy. Vikram Solar reported a 21.11 per cent increase in revenue from operations, rising from ₹2,073.23 crore in FY23 to ₹2,510.99 crore in FY24. EBITDA grew from ₹186.18 crore in FY23 to ₹398.58 crore in FY24. The company's product portfolio includes Tunnel Oxide Passivated Contact (TOPCon) modules, Heterojunction Technology (HJT) modules, and Passivated Emitter and Rear Contact (PERC) modules in both bifacial and monofacial formats. The book-running lead managers to the issue are JM Financial Ltd, Nuvama Wealth Management Ltd, UBS Securities India Pvt Ltd, Equirus Capital Pvt Ltd, and PhillipCapital (India) Pvt Ltd. Link Intime India Pvt Ltd is the registrar to the issue.
Economic Times
3 days ago
- Business
- Economic Times
Sebi approves HDB Financial, Vikram Solar among six IPOs
Sebi has approved IPOs of six companies from sectors like renewable energy, finance, steel, chemicals, jewelry, and logistics. Notable names include Vikram Solar, HDB Financial, and A-One Steels, reflecting a strong IPO pipeline and diversified market interest. Tired of too many ads? Remove Ads HDB Financial Services IPO A-One Steels India IPO Shanti Gold International IPO Tired of too many ads? Remove Ads Dorf-Ketal Chemicals IPO Shreeji Shipping Global IPO Capital markets regulator Sebi has recently granted approval to six companies for their initial public offerings (IPOs), signaling a robust pipeline in the Indian capital markets. These approvals span diverse sectors, including renewable energy, financial services, steel manufacturing, specialty chemicals, jewelry, and Vikram Solar, a leading solar energy solutions provider, received Sebi's nod on May 29. The company had filed its Draft DRHP in October last year. The IPO comprises a fresh issue of equity shares aggregating up to Rs 1,500 crore and an offer for sale (OFS) of up to 1.75 crore shares by existing shareholders. Vikram Solar specializes in manufacturing solar photovoltaic modules and providing engineering, procurement, and construction (EPC) services.A subsidiary of HDFC Bank, HDB Financial Services also secured Sebi approval after filing its DRHP in November last year. The IPO aims to raise Rs 12,500 crore, consisting of a fresh issue of Rs 2,500 crore and an OFS of Rs 10,000 crore by HDFC Bank. HDB Financial offers a range of secured and unsecured loans and operates through a network of over 1,680 branches across steel manufacturer A-One Steels filed its DRHP in January 10 this year. The IPO includes a fresh issue of Rs 600 crore and an OFS of Rs 50 crore. The company is known for producing a diverse range of long and flat steel products and holds a significant position in Southern India's steel Shanti Gold International specialises in jewelry manufacturing. The IPO consists of a fresh issue of up to 1.81 crore equity shares with a face value of Rs 10 each. Shanti Gold focuses on crafting a variety of gold jewelry pieces, catering to both domestic and international Chemicals, a specialty chemicals manufacturer based in Kachchh, Gujarat, received Sebi approval on May 27 after submitting its DRHP early this year. The IPO aims to raise Rs 5,000 crore, comprising a fresh issue of Rs 1,500 crore and an OFS of Rs 3,500 crore. The company serves various industries, including oil and gas, refining, and petrochemicals, with its innovative chemical Shreeji Shipping Global's IPO consists entirely of a fresh issue of 2 crore equity shares with a face value of Rs 10 each. Shreeji Shipping provides shipping and logistics solutions for dry bulk cargo across ports in India and Sri Lanka, operating a fleet of over 75 vessels.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
3 days ago
- Business
- Time of India
Sebi approves HDB Financial, Vikram Solar among six IPOs
Sebi has approved IPOs of six companies from sectors like renewable energy, finance, steel, chemicals, jewelry, and logistics. Notable names include Vikram Solar, HDB Financial, and A-One Steels, reflecting a strong IPO pipeline and diversified market interest. Tired of too many ads? Remove Ads HDB Financial Services IPO A-One Steels India IPO Shanti Gold International IPO Tired of too many ads? Remove Ads Dorf-Ketal Chemicals IPO Shreeji Shipping Global IPO Capital markets regulator Sebi has recently granted approval to six companies for their initial public offerings (IPOs), signaling a robust pipeline in the Indian capital markets. These approvals span diverse sectors, including renewable energy, financial services, steel manufacturing, specialty chemicals, jewelry, and Vikram Solar, a leading solar energy solutions provider, received Sebi's nod on May 29. The company had filed its Draft DRHP in October last year. The IPO comprises a fresh issue of equity shares aggregating up to Rs 1,500 crore and an offer for sale (OFS) of up to 1.75 crore shares by existing shareholders. Vikram Solar specializes in manufacturing solar photovoltaic modules and providing engineering, procurement, and construction (EPC) services.A subsidiary of HDFC Bank, HDB Financial Services also secured Sebi approval after filing its DRHP in November last year. The IPO aims to raise Rs 12,500 crore, consisting of a fresh issue of Rs 2,500 crore and an OFS of Rs 10,000 crore by HDFC Bank. HDB Financial offers a range of secured and unsecured loans and operates through a network of over 1,680 branches across steel manufacturer A-One Steels filed its DRHP in January 10 this year. The IPO includes a fresh issue of Rs 600 crore and an OFS of Rs 50 crore. The company is known for producing a diverse range of long and flat steel products and holds a significant position in Southern India's steel Shanti Gold International specialises in jewelry manufacturing. The IPO consists of a fresh issue of up to 1.81 crore equity shares with a face value of Rs 10 each. Shanti Gold focuses on crafting a variety of gold jewelry pieces, catering to both domestic and international Chemicals, a specialty chemicals manufacturer based in Kachchh, Gujarat, received Sebi approval on May 27 after submitting its DRHP early this year. The IPO aims to raise Rs 5,000 crore, comprising a fresh issue of Rs 1,500 crore and an OFS of Rs 3,500 crore. The company serves various industries, including oil and gas, refining, and petrochemicals, with its innovative chemical Shreeji Shipping Global's IPO consists entirely of a fresh issue of 2 crore equity shares with a face value of Rs 10 each. Shreeji Shipping provides shipping and logistics solutions for dry bulk cargo across ports in India and Sri Lanka, operating a fleet of over 75 vessels.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
12-05-2025
- Business
- Time of India
Vikram Solar to supply 326 MW solar modules for Gujarat's renewable energy park project
Vikram Solar has secured a substantial 326.625 MW solar module supply order from Gujarat Industries Power Company Limited (GIPL) for the Khavda Renewable Energy Park in Gujarat. This order elevates Vikram Solar's total contribution to renewable energy to roughly 577 MW. The delivery of the high-efficiency modules is slated for FY26, strengthening the partnership between Vikram Solar and GIPCL. Tired of too many ads? Remove Ads New Delhi: Vikram Solar has secured a "significant" order from Gujarat Industries Power Company Limited GIPL ) to supply 326.625 MW of solar modules . The high-efficiency solar modules will be supplied for the Khavda Renewable Energy Park in latest order brings Vikram Solar's total contribution to renewable energy to approximately 577 MW, the company modules are scheduled for delivery in FY26. Gyanesh Chaudhary , Chairman and Managing Director of Vikram Solar, stated: "This order reinforces the strong and enduring relationship between Vikram Solar and GIPCL. The Khavda project symbolises a collective push toward energy security and sustainability. With this order, we are contributing to one of the most important renewable energy projects in India."Kolkata-based Vikram Solar specialises in efficient photovoltaic (PV) module manufacturing and has presence across 39 countries.
