Khaitan, Trilegal, Linklaters act on Vikram Solar ~₹2,080 crore IPO

Vikram Solar Limited has made an initial public offering of equity shares aggregating to ₹2,079.37 crore, comprising a fresh issue aggregating to ₹1,500 crore and an Offer for Sale by selling shareholders aggregating to ₹579.37 crore.

Khaitan & Co advised Vikram Solar on this IPO, as per the DRHP.

Trilegal advised the syndicate of book-running lead managers, comprising JM Financial Limited, Nuvama Wealth Management Limited, UBS Securities India Private Limited, Equirus Capital Private Limited and PhillipCapital (India) Private Limited.

The transaction team was led by Richa Choudhary (Partner) and supported by Avanti Kale (Counsel), Maitreya Rajurkar (Counsel) and Associates Siddhant Mishra, Yug Gambhir and Naman Shah.

Linklaters served as the international legal counsel for the BRLMs.

Vikram Solar is one of India's largest manufacturers of solar photovoltaic modules in India.

The IPO was oversubscribed by ~56.42 times. The net proceeds from the fresh issue will be utilised for setting up an integrated 3,000 MW solar cell and 3,000 MW solar module manufacturing facility, and expansion of an existing solar module manufacturing facility from 3,000 MW to 6,000 MW.

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