Vikram Solar IPO: Looking Beyond Horizons in Renewable Energy

31 October 2024

​Do you know Vikram Solar was initially founded as a garment business that transitioned into solar module manufacturing over a decade ago?

​Vikram Solar, with its headquarters in Kolkata, has expanded internationally, operating sales offices in the U.S. and a procurement office in China.  Vikram Solar supplies solar PV modules to 39 countries and has a strong domestic client base, including NTPC, HPCL, and West Bengal State Electricity Distribution Company.

• Vikram Solar’s upcoming IPO is highly anticipated, as it positions the company to expand its footprint in India’s fast-evolving renewable energy landscape. Known for its advanced solar PV modules, Vikram Solar aims to leverage the proceeds from its public offering to increase production capacity and strengthen its R&D capabilities. 
• ​By doing so, the company can capitalize on the robust demand for clean energy, both domestically and internationally. This expansion aligns with India's ambitious goal to reach 300 GW of solar power capacity by 2030, providing Vikram Solar with a critical role in meeting this target.
• The solar industry in India is poised for rapid growth, driven by supportive government policies, including incentives like the Production Linked Incentive (PLI) scheme. Vikram Solar’s IPO provides an entry point for investors interested in gaining exposure to this growing sector.