Vikram Solar Plans New Share Issue to Fuel Growth Plans

Vikram Solar Ltd is set to hold an Extraordinary General Meeting (EGM) on Tuesday, June 18, 2024, to deliberate on a new issuance of 6 crore (5,99,54,996) equity shares. Each share has a face value of Rs. 10 and will be priced at Rs. 122, inclusive of a Rs. 112 premium per share. This issuance will total Rs. 731 crore (Rs. 731,45,09,512) and will be conducted in one or more tranches via private placement.
Vikram Solar has an installed capacity of 3.5 GW for solar modules. Last year, it received government approval to set up 2.4 GW of cell and module capacity under the PLI scheme.