Vikram Solar Shares Surge 9% Post-Debut, Trading 12% Above IPO Price
Vikram Solar's shares jumped 9.2% on Tuesday, trading 12% above its IPO price of Rs 320. The stock reached an intraday high of Rs 371.25 on BSE, with a market cap of Rs 12,009 crore. The company's IPO was oversubscribed 56.42 times. Vikram Solar reported 37% revenue growth to Rs 3,459 crore and 75% increase in profit after tax to Rs 139.8 crore. The company plans to expand its module capacity to 20.5 GW and cell capacity to 12 GW by FY27.
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Vikram Solar, a leading solar module producer, witnessed a significant uptick in its share price on Tuesday, following a subdued stock market debut. The company's shares jumped 9.2%, now trading approximately 12% above its initial public offering (IPO) price of Rs 320 per share.
Strong Market Performance
The stock reached an intraday high of Rs 371.25 on the Bombay Stock Exchange (BSE), reflecting improved investor sentiment. This positive momentum is attributed to the company's strong revenue guidance and growing solar order book. With this surge, Vikram Solar's market capitalization stands at approximately Rs 12,009 crore.
IPO Success and Financial Growth
Vikram Solar's IPO, which ran from August 19-21, garnered substantial interest from various investor categories:
- Overall subscription: 56.42 times
- Qualified Institutional Buyers (QIBs): 145.10 times
- Non-Institutional Investors (NIIs): 52.87 times
- Retail Investors: 7.98 times
The company successfully raised Rs 621 crore from anchor investors, underlining the strong interest in its offering.
Vikram Solar's financial performance has been robust, with the company reporting:
- Revenue growth of 37% to Rs 3,459 crore
- Profit after tax increase of 75% to Rs 139.8 crore
Strategic Position and Future Plans
Vikram Solar serves a diverse clientele, including major players in the energy sector such as NTPC, Adani Green, JSW Energy, and ACME. The company has ambitious expansion plans, aiming to increase its capacity to:
- 20.5 GW for modules
- 12 GW for cells by FY27
These expansion plans position Vikram Solar to capitalize on the growing demand for solar energy solutions in India and globally.
Market Outlook
The positive response to Vikram Solar's shares post-listing suggests investor confidence in the company's growth prospects and the overall solar energy sector. As India continues to push for renewable energy adoption, companies like Vikram Solar are well-positioned to benefit from the increasing demand for solar power solutions.
| Financial Metric | Value |
|---|---|
| IPO Price | Rs 320.00 |
| Intraday High | Rs 371.25 |
| Revenue Growth | 37% |
| Revenue | Rs 3,459.00 crore |
| Profit After Tax | Rs 139.80 crore |
| PAT Growth | 75% |
The strong market debut and financial performance of Vikram Solar reflect the growing investor interest in the renewable energy sector, particularly in solar power companies with robust growth strategies and expanding capacities.
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