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Vikram Solar Raises ₹621 Crore from Anchor Investors Ahead of ₹2,079-Crore IPO.                                                                                                                             

Vikram Solar, one of India’s leading solar module manufacturers, has mobilised ₹621 crore from 43 anchor investors, including Goldman Sachs Fund, Morgan Stanley India Investment Fund, BNP Paribas, HSBC, Citigroup, ICICI Prudential Life, and SBI General Insurance, ahead of its IPO opening on August 19. Mutual funds such as UTI, Franklin Templeton, Kotak, Nippon India, and Edelweiss also participated. The IPO, worth ₹2,079 crore, includes a fresh issue of ₹1,500 crore and an OFS of ₹579.37 crore, with a price band of ₹315–₹332 per share. Proceeds will fund capex in subsidiary VSL Green Power for its Phase I & II projects. Since starting operations in 2009 with 12 MW capacity, Vikram Solar has scaled to 4.5 GW, serving clients like NTPC, Adani Green, Azure Power, and JSW Energy. Revenues rose 36% YoY to ₹3,423 crore, while profits jumped 75% to ₹140 crore in FY25, reflecting robust growth momentum.