• Business
  • Mar 25, 2022
  • 1 min read

Incoming Solar IPO is drawing some attention ☀️

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What’s poppin’ — Vikram Solar, one of India’s largest makers of solar modules, filed papers to raise ₹1,500 crore from the public markets, drawing some serious eyeballs as renewable energy becomes a hot theme locally.

The 16-year old business makes solar photovoltaic modules — basically your standard rooftop setups deployed in homes, factories, and offices, serving both residential and large-scale commercial demand. Vikram ties that in with more services including material procurement, assembly, construction and maintenance.

So far, the company has an installed base of over 2.5GW deployed across India and 32 other countries. Last year, the business made ₹1,610 crores in revenues, while churning a profit of about ₹56 crores.

Bottomline certainly not Adani or Renew Power, but a sizable business with decent growth prospects as retail and low-commercial deployments pick up. Could end up becoming a hot acquisition target as well.