IPO
There is good news for investors investing in IPO. Solar module manufacturing company Vikram Solar and Aditya Infotech are going to launch IPO. Both the companies have filed documents with market regulator SEBI to launch IPO. Let us tell you that Vikram Solar is preparing to raise Rs 1,500 crore through IPO. The Kolkata-based company said fresh shares worth up to Rs 1,500 crore will be issued under the IPO and will also include an offer for sale (OFS) of 1.74 crore shares by the promoter group.
Company will increase solar module manufacturing capacity
According to the IPO document filed with the Securities and Exchange Board of India (SEBI), the issue with a face value of Rs 10 per share will have a fixed reserve for eligible employees. Apart from this, the company may also consider raising up to Rs 300 crore through pre-IPO. The company plans to use Rs 793.36 crore of the IPO proceeds for capital expenditure. Under this, the company will set up a 3,000 MW solar cell and module manufacturing plant through its wholly owned subsidiary VSL Green Power Pvt. Ltd. Also, an amount of Rs 602.95 crore will be used to expand the existing solar module manufacturing facility from 3,000 MW to 6,000 MW. The remaining amount will be used for normal company functioning.
Aditya Infotech will raise Rs 1,300 crore
Aditya Infotech has filed preliminary documents with capital markets regulator SEBI to raise Rs 1,300 crore through an initial public offering (IPO). According to the draft documents, the company’s proposed IPO comprises a fresh issue of Rs 500 crore and an offer for sale (OFS) of Rs 800 crore by promoters. The loan will be repaid with Rs 375 crore from the proceeds from the sale of new shares. The remaining amount will be used for general corporate purposes. According to the draft documents filed on Monday, the company had a total debt of Rs 405.45 crore till March 2024. Aditya Infotech offers advanced video security and surveillance products, technologies and solutions for the enterprise and consumer segment under the ‘CP Plus’ brand.
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