Vikram Solar has received capital markets regulator Sebi’s go ahead to raise funds through an initial public offering (IPO).
The IPO consists of a fresh issue of up to Rs 1,500 crore and an Offer-for-Sale (OFS) of up to 50 lakh equity shares by the selling shareholders.
Vikram Solar, which filed preliminary IPO papers with the markets regulator in March, obtained its observation letter on August 10, an update with the Securities and Exchange Board of India (Sebi) showed on Wednesday.
In Sebi’s parlance, its observations imply its go ahead to float the IPO.
Vikram Solar is a leading domestic module manufacturer. It produces solar photo-voltaic (PV) modules and is an integrated solar energy solutions provider offering engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) services.
