It has also roped in JM Financial and Kotak Mahindra Capital are the lead managers to the public issue
Solar PV cells manufacturer Vikram Solar is looking to go public as it files draft papers for a reported ₹2,000 crore initial public offering (IPO).
As per a report by ET, Vikram Solar, which is one of the largest solar module manufacturers, will offer a mix of fresh share sales and stake sales by promoters for the issue which are likely to be worth ₹1,800 crore.
It has also roped in JM Financial and Kotak Mahindra Capital are the lead managers to the public issue.
Vikram Solar is India’s second-largest solar energy company by revenue. For the financial year ended March 31, 2021, the company posted a 4% growth in revenues to ₹1,577 crore. Its net profit jumped from ₹6.04 crore in FY20 to Rs37.14 crore in FY21. The company has plants in West Bengal and Tamil Nadu with a total solar module manufacturing capacity of 2.5 gigawatts.
