Vikram Solar secured SEBI approval for a ₹1,500 crore IPO

29 July 2025

Vikram Solar secured SEBI approval for a ₹1,500 crore IPO (fresh issue + OFS of 1.745 crore shares). It plans to invest ₹793 cr to build a new 3,000 MW solar cell & module facility  via VSL Green Power, Additionally, ₹603 crore is allocated for expanding the solar module manufacturing capacity at the same site from 3,000 MW to 6,000 MW in Tamil Nadu.  

At present, Vikram Solar boasts an installed manufacturing capacity of 4.50 GW. The company plans to increase this capacity to 10.50 GW by Fiscal 2026 and further to 15.50 GW by Fiscal 2027. The establishment of a 3.00 GW solar cell manufacturing facility in Tamil Nadu is part of its backward integration strategy.

Will Vikram Solar IPO power returns in India’s fast-growing solar sector?