Trilegal advised on the successful listing of equity shares of Vikram Solar Limited’s IPO
The leading law firm, Trilegal advised on the successful listing of equity shares of Vikram Solar Limited (“Vikram Solar”) pursuant to its initial public offering aggregating to INR ~21,000 million (“IPO”).
Vikram Solar is one of India’s largest manufacturers of solar photovoltaic modules. This transaction marks Trilegal’s continued expertise in solar and allied sectors. The IPO was oversubscribed by ~56.42 times.
The IPO comprised a fresh issue of equity shares and an offer for sale by certain existing shareholders. The net proceeds from the fresh issue will be utilised for:
- (i) Setting up an integrated 3,000 MW solar cell and 3,000 MW solar module manufacturing facility; and
- (ii) Expansion of an existing solar module manufacturing facility from 3,000 MW to 6,000 MW.
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 Trilegal Capital Markets Team advising on the matter was led by Richa Choudhary (Partner), with support from Avanti Kale (Counsel), Maitreya Rajurkar (Counsel), Siddhant Mishra (Associate), Yug Gambhir (Associate) and Naman Shah (Associate).
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