Drashti Chheda Vikram Solar Limited, one of India’s largest solar photovoltaic module manufacturers, has received formal approval from SEBI to proceed with its IPO, marking a pivotal moment in its growth journey.
Founded in 2005, the company has expanded its manufacturing capacity from just 12 MW in 2009 to 3.5 GW by March 2024, with state-of-the-art facilities in Kolkata and Chennai. As demand rises across domestic and export markets, Vikram Solar plans to raise ₹1,500 crore through a fresh issue, along with an offer-for-sale from promoters totaling 1.75 crore shares.
The capital will be deployed towards major capacity expansions, with ₹793.36 crore allocated for Phase I and ₹602.92 crore for Phase II. This reflects the company’s aggressive push to strengthen its position in the renewable energy space.
Although the exact IPO date and price band remain undisclosed, market chatter suggests the subscription window may open between August 19 and 21, 2025, with allotment and listing expected in late August.
Vikram Solar holds Tier 1 module manufacturer status, enjoys strong government recognition, and counts leading clients like NTPC and NLC among its portfolio. It has been recognized globally for reliability and innovation, earning accolades such as being a “Top Performer” in the solar sector.
For investors, the IPO timing aligns with India’s accelerating renewable energy momentum. With its expanding capacities, brand credibility, and industry leadership, Vikram Solar could be an attractive long-term play.
