Vikram Solar Unlisted Share Prices
Vikram Solar Ltd.
INE078V01014
Listing Status: DRHP Filed
About Vikram Solar Unlisted Share Prices
Overview of Vikram Solar Unlisted Share Prices
If you’ve ever been to Kolkata airport, you’ve probably noticed its impressive 15 MW solar installation, the largest at any AAI airport. Thanks to Vikram Solar, the Netaji Subhas Chandra Airport now fulfills its entire power demand with electricity generated by this massive solar panel setup. Vikram Solar is one of the largest solar panel brands in India.
Vikram Solar Limited (VSL), founded in 2006 and based in Kolkata, India, is a leading provider of solar energy solutions. Led by Mr. Hari Krishna Chaudhary and Mr. Gyanesh Chaudhary, VSL specializes in the design, manufacturing, installation, and maintenance of photovoltaic (PV) modules and solar power systems. With manufacturing facilities in Falta Special Economic Zone (FSEZ) in West Bengal and Chennai, VSL has significant production capacities, allowing it to export high-quality PV modules worldwide. Additionally, VSL is engaged in engineering, procurement, and construction (EPC) projects for solar power plants, including a notable 10 MW solar power plant with a long-term agreement with the Tirupati temple, emphasizing its dedication to sustainable energy solution.
Vikram Solar's Journey
2005: Incorporation Vikram Solar begins its journey towards revolutionizing India’s solar energy landscape.
2011: Early Milestone Installed a 3 MW project under the National Solar Mission of India, marking a significant step forward in renewable energy implementation.
2013: Landmark Achievement Contributed to the solarisation of the first fully solarised airport in India – Cochin International Airport, Kerala, showcasing the potential of solar energy in large-scale infrastructure projects.
2014: Recognition and Innovation Earned the distinction of being India’s only Tier 1 module manufacturer and commissioned India’s first floating solar plant, demonstrating innovative approaches to solar energy deployment.
2015: Scaling Production Reached a production capacity of 500 MW/year, signaling substantial growth and commitment to meeting the rising demand for solar energy solutions.
2017: Industry Leadership Achieved a significant milestone by reaching a production capacity of 1 GW/year, solidifying its position as a leader in the Indian solar industry.
2019: Expansion and Impact Commissioned a 200 MW plant in Andhra Pradesh and East India’s largest single shed rooftop project, totaling 2.15 MW, contributing to both utility-scale and distributed solar energy generation.
2021: Scaling New Heights Reached a production capacity of 2.5 GW, firmly establishing itself as one of India’s largest solar module manufacturers, driving the nation’s transition towards clean and sustainable energy sources.
Vikram Solar's Extensive Domestic Network
With an extensive domestic presence, Vikram Solar operates across 23 states and 3 union territories in India, supported by a robust network of 42 distributors, 56 trusted resellers, and 97 empanelled system integrators
Global Expansion
Vikram Solar has expanded globally with a sales office in the USA and a procurement office in China. They’ve supplied solar PV modules to clients in 32 countries. Domestically, key clients include NTPC, Rays Power Infra, and Hindustan Petroleum, while internationally, they serve companies like Amp Solar Development Inc and Safari Energy LLC. Learn how Vikram Solar is preparing to start production in the US.
Business Division
1. Solar PV Module Manufacturing:
Vikram Solar manufactures high-efficiency solar modules using both monocrystalline and polycrystalline cell technology. Their products can be categorized based on the use of solar cell technology and cell size.
BASED ON USE OF TECHNOLOGY | BASED ON SIZE OF SOLAR CELLS |
---|---|
Monocrystalline Passive Emitter and Rear Cell (Mono PERC) modules | M6 size cell (166 mm x 166 mm) |
Polycrystalline modules | M10 size cell (182 mm x 182 mm) |
– | G12 size cell (210 mm x 210 mm) (a prototype under third-party lab testing) |
2. Solar EPC and Rooftop Solutions
Vikram Solar stands as one of India’s top five Engineering, Procurement, and Construction (EPC) players, leveraging over a decade of experience and a robust portfolio comprising more than 300 projects as of March 31, 2024. The company’s proficiency in executing EPC projects for solar plants is widely acknowledged, cementing its prominent position within the industry. Vikram Solar’s capabilities span the entire project lifecycle, encompassing concept development, engineering, execution, commissioning, and ongoing operations and maintenance.
3. Operation and Maintenance Services
Over the years, Vikram Solar has established a sustainable O&M business division to provide customers with forward-integrated full life cycle services. Their O&M services include repairs, ongoing maintenance, and complete operational solutions. These services are primarily offered for executed EPC projects as bundled value-add services. Vikram Solar provides these services across India and to clients in industries such as railways, airports, hospitals, defense, and automobile.
Brand Portfolio
BRAND | DESCRIPTION | APPLICATION | TECHNOLOGY |
---|---|---|---|
Somera | Economical module with low sunlight response, using Mono PERC technology. | Projects with land constraints in developing markets. | Mono PERC |
Paradea | Maximizes bifaciality, suitable for reflective surfaces like snow or sand. | Utility scale projects in various markets. | Bifacial |
Prexos | Lightweight module for rooftops with various roofing materials. | Rooftop projects, especially in heavy snowfall areas. | Lightweight |
Smart PV | Niche module with app-based technology for remote monitoring. | Commercial and industrial rooftops with shadow issues. | Smart technology |
Vikram Solar doesn’t just make solar panels – they also provide complete solar energy solutions. They’ve built over 300 solar plants and are currently working on more, totaling 1.42 GW in capacity. Plus, they take care of these plants even after they’re built, offering maintenance services for over 900 MW of solar energy projects.
They’re also big on rooftop installations, having completed over 190 projects across different areas and industries, including some impressive ones like a massive 5 MW solar carport at Maruti Udyog Limited. To make sure everything runs smoothly, they’ve sorted out their supply chain, making it easier to get the materials they need on time and at a good price.
Manufacturing Units and Expansion
- Tier 1 Manufacturer: According to Bloomberg New Energy Finance's 2020 report, Vikram Solar is classified as a Tier 1 solar PV module manufacturer.
- State-of-the-Art Equipment: The company utilizes advanced manufacturing equipment imported from the US, Germany, Japan, and Switzerland to ensure high-quality production.
- In-House R&D Facility: Vikram Solar maintains an in-house research and development facility to stay ahead of industry trends and incorporate cutting-edge technology into their panels.
- Production Capacity: Upgraded manufacturing unit's production capacity surpassed the 1 GW mark in 2017, currently standing at 1.2 GW, positioning the company among the top manufacturers.
- Geographical Location: The manufacturing unit is located near Kolkata, facilitating efficient operations and logistics.
- Expansion Plans: Vikram Solar has signed an MoU with the Tamil Nadu state government to establish another 3 GW manufacturing unit in the state over the next five years, demonstrating its commitment to expansion and growth.
Awards and Recognitions
The company’s work in producing solar modules and providing EPC services has earned it several accolades and certifications from various organizations. The company won the 2019 Soft Disk Awards’ “Solar Manufacturer of the Year” honor. The EPC award for “Outstanding contribution in renewable energy” has also been won by them. Additionally, they have won two years in a row as India’s most chosen brand for solar and customer passion. Here is a list of awards that is more thorough.
Management of the Company
Insights of Vikram Solar Unlisted Share Prices
Consolidated Financial Highlights
₹ in crores
Revenue Breakup
Recent Update
On May 23, 2024, Vikram Solar issued up to 5,99,54,996 equity shares at ₹122 per share, raising approximately ₹731Crs. from investors to expand its investor base and raise additional capital.
The group of investors include Niveshaay Hedgehogs LLP, GVA Consultants LLP, Kaliedo Capital Advisors and Family offices and high-net-worth individuals.
Expected change in Capital due to the fundraise based on FY23 data:
Share Capital:
- Present: 258.83 Crs
- Increase: ₹10 * 5.99Crs. (Face value * no of shares) = 59,95,49,960
- Total: 318.78 Crs.
Reserves: Share premium
- Present: 128.68 Crs.
- Increase: ₹112 * 5.99 Crs. ((Amount – FV) * no of shares) = 670.88 Crs
- Total: 799.56 Crs.
Industry Overview
Global Solar PV Market Forecast
The global solar market is expected to grow at a faster pace over the next five years due to higher global renewable
installations driven by the stronger policy support and ambitious climate targets announced for COP26. The International
Energy Agency (IEA) forecasts that global solar capacity additions could reach approximately 1100 GW between 2021 and
2026, averaging 181.4 GW per year, nearly double the rate (93.5 GW) over the preceding five years.
Indian Solar Market
As India announced to reach 280GW in solar power, the
domestic solar market has the potential of an additional 230
GW of solar installations over the next nine years which is
approximately 25 GW per year. In line with this ambitious
goal, the government of India proposed an additional
allocation of `19,500 crore for the Production Linked
Incentive for the manufacturing of high-efficiency modules
in the Budget 2022-23.
Key trends influencing the solar sector:
- Ambitious climate change targets by major countries across the world.
- Large market opportunity led to many new players.
- Innovation in solar is driven by demand for highly efficient modules and emerging customer needs.
- Short-term price pressure on solar PV manufacturers due to rising commodity prices.
Vikram Solar’s Response
To capitalize on the market opportunity, the company prioritized these focus areas:
- Boosting sales by tapping into high potential markets.
- Ramping up production capacity and innovation to meet growing demand and emerging needs.
- Accelerating digitization to improve operation efficiency and customer experience.
- Enhancing process control to reduce cost.
Fundings and IPO Plans
December 19, 2023: Vikram Solar Ltd secured $200 million in funding from the US International Development Finance Corporation (DFC) for its 3 GW cell and module manufacturing plant in Gangaikondan, Tamil Nadu, through a retainer letter. Additionally, there is a possibility of pre-IPO share sales amounting to Rs. 300 crores, which could alter the initial plan. Anil Chaudhary, Girish Kumar Madhogaria, Pushpa Madhogaria, and Vikram India Ltd. are among the entities selling shares. JM Financial Limited and Kotak Mahindra Capital Company Ltd. are the main companies facilitating the process.
Vikram Solar planned to raise Rs. 2000 crores through an IPO.
• Fresh Issue: Rs. 1500 Crs
• Offer for sale: 5 million shares
• DRHP Filing: 6th March 2022
Objective of the Issue
The proceeds from the issue will be used for :
- Worth Rs.1,238.80 crore funding capital expenditure for setting up 2000 megawatts integrated solar cell and solar module manufacturing facility at Tamil Nadu through its wholly owned arm VSL Green Power Pvt Ltd.
- General corporate purpose.
As of MARCH 12, 2024: Vikram Solar is in talks to raise Rs 600 crore-800 crore in a pre-IPO round from family offices and high net worth individuals.
Vikram Solar: Key Strengths
- Experienced Management and Established Relationships
- Healthy Order Book Position
- Positive Industry Outlook
- Significant Improvement in Performance
Vikram Solar: Key Weaknesses
- Moderate Financial Risk
- Working Capital Intensity
Peer Comparison
₹ in crores (FY2023)
Particulars | Vikram Solar | Waaree Energies |
Total Income | 2092 | 6860 |
EBITDA | 187 | 944 |
EBITDA Margins | 8.94% | 13.76% |
PAT | 15 | 500 |
Net Profit Margin | 0.7% | 7.3% |
EPS | 0.56 | 21.82 |
PEG ratio | 3.168 | 0.166 |
Shares outstanding | 26 | 24 |
Market Cap | 6988 | 48672 |
CMP (29 April, 2024) | 270 | 2000 |
P/E | 392.86 | 91.66 |
P/S | 2.72 | 7.10 |
Risk
Risk of Inefficient Expansion: Vikram Solar's success is vulnerable to the effectiveness of its new factory construction and the scalability of its solar panel production. Inadequate execution could lead to suboptimal outcomes and financial strain.
Uncertainty Regarding Government Policies: The company faces the risk of not fully leveraging beneficial government policies, such as the PLI scheme, which could hinder its competitive position and growth potential in the industry.
Supply Chain Vulnerability: Vikram Solar's lack of long-term agreements with suppliers of raw materials exposes it to supply chain disruptions. Any difficulty in sourcing essential raw materials for solar panel production could impede operations and profitability.
Dependency on Single Revenue Stream: With the majority of its revenue derived from the sale of solar panels, Vikram Solar is exposed to the risk of revenue fluctuations and market volatility associated with its singular product offering.
Raw Material Price Volatility: Fluctuations in the prices of crucial raw materials like wafers and solar cells pose a significant risk to Vikram Solar's profitability and financial stability, potentially impacting its ability to maintain competitive pricing and margins
Financial Charts of Vikram Solar Unlisted Share Prices
Balance Sheet of Vikram Solar Unlisted Share Prices
Profit and Loss of Vikram Solar Unlisted Share Prices
Ancillary of Vikram Solar Unlisted Share Prices
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of Vikram Solar Unlisted Share Prices
-
How to buy Vikram Solar Ltd.?
Below are three ways through which you can purchase Vikram Solar Ltd.:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to buy Vikram Solar Ltd., please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
-
How to sell Vikram Solar Ltd.?
Below are three ways through which you can sell Vikram Solar Ltd.:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell Vikram Solar Ltd., please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
-
What is the price of Vikram Solar Ltd.?
We provide a two way quote on all the shares we deal in. Your buy price for Vikram Solar Ltd. is ₹435 and your sell price for Vikram Solar Ltd. is ₹400. The price is based on our estimates and market conditions.
-
What is the lock-in period of Vikram Solar Ltd.?
The lock-in period for Vikram Solar Ltd. varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Vikram Solar Ltd.
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Vikram Solar Ltd.
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
-
How is the Vikram Solar Ltd. price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of Vikram Solar Ltd.. The price is also determined from the most recent funding round for Vikram Solar Ltd.. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
-
What are the lot sizes of Vikram Solar Ltd.?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of Vikram Solar Ltd. with us kindly click here.
-
What are the financials of Vikram Solar Ltd.?
The financials of Vikram Solar Ltd. which includes the P/L of Vikram Solar Ltd. and the Balance Sheet of Vikram Solar Ltd. is in the financials section (Click on link).
-
Where can I find the annual report of Vikram Solar Ltd.?
The annual report of Vikram Solar Ltd. is available in the annual report section (Click on link).
-
Is buying Vikram Solar Ltd. legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
-
Short-term Capital Gain taxes to be paid on Vikram Solar Ltd.?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
-
Long-term Capital Gain taxes to be paid on Vikram Solar Ltd. and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
-
Applicability of Taxes on Vikram Solar Ltd. once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
How does Altius Investech source Vikram Solar Ltd.?
At Altius Investech, our approach to sourcing Boat Unlisted Share (Imagine Marketing) involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of Boat Unlisted Share (Imagine Marketing). This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
How to trust Altius Investech before buying Vikram Solar Ltd. from its platform?
Altius Investech stands at being India's fastest growing and leading marketplace for buying and selling unlisted shares. We believe in enabling access to alternative sources of investments at lower entry barriers to private equity investments.
With more than 25 years of experience, Altius Investech has carved a niche in the financial market by serving more than 8000 clients. The incredible journey is further highlighted by the vast number of transactions that Altius Investech has facilitated transactions that have already exceeded 300 crores.
For investors Altius Investech curates investment opportunities in companies at reasonable valuations which are on the verge of an IPO leading to massive value unlocking. Investments are backed by thorough research and sound investment thesis, with a time bound exit plan.
For ESOP Shareholder and existing Investors, we assist them to liquidate their shares even if they are not publicly traded by creating a platform where we find the right buyers and sellers for the best prices.
Altius Investech have been featured in top media news outlets like Economic Times, Financial Express, Money control. Check out about us on these - leading publications (Click on link) Our journey over these years has not just been about numbers; it's been about building trust and reliability.
We at Altius Investech are dedicated to upholding the greatest levels of ethics and transparency, making sure that your investment experience is not only profitable but also safe and reliable.
Press of Vikram Solar Unlisted Share Prices
Featured Blogs of Vikram Solar Unlisted Share Prices
Annual Report of Vikram Solar Unlisted Share Prices
Company Information of Vikram Solar Unlisted Share Prices
Featured Companies
Stay Connected.
Registered Address
73A, GC Avenue, Kolkata -13Corporate Address
Y-19, 90 DEGREES Magnus, EP Block,Sec V, Kolkata 700091Chennai Office
19/10, Guru Vappa Chetty Street, Chintadripet, Chennai - 600002
Dubai Office
2701, Executive Tower G, Business Bay, Dubai, UAE
Andhra Pradesh & Telangana Office
54-19-25/1, Flat no.101, Sai Residency, Nelson Mandela Park Road, LIC Colony, Vijayawada (Urban), Andhra Pradesh - 520008Altius Investech