City based renewable energy company Vikram Solar has filed draft prospectus with Sebi for its initial public offer.

The company is proposing to raise ₹1500 crore through fresh issue of shares and offer for sale (OFS) of up to 17.45 million equity shares by its promoter group.

The company’s wholly owned subsidiary - VSL Green Power Private Limited - is setting up an integrated 3000 MW solar cell and 3000 MW solar module manufacturing facility at SIPCOT Industrial Complex in phase 1.

In phase 2, the solar module manufacturing facility is planned to be scaled up to 6000 MW.

Partial funding of the capital expenditure towards phase 1 (₹793.36 crore) and funding of phase 2 (₹602.95 crore) will be utilised from the net proceeds along general corporate purposes, as per the draft prospectus.

Vikram Solar has a capacity of 3.5 GW at the time of the filing of the draft prospectus. The company plans to increase production capacity to 10.50 GW by FY26 and 15.50 GW by FY27, including the 3.00 GW solar cell manufacturing plant in Tamil Nadu.

The IPO has a face value of ₹10 per equity share and includes a reservation for eligible employees, alongside a discount for those participating in the employee subscription portion. In consultation with the book-running lead manager, the company may also consider issuing specified securities up to ₹300 crore as a “pre-IPO placement.”

The offer will use a book-building process, allocating not more than 50 per cent for qualified institutional buyers, a minimum of 15 per cent to non-institutional bidders, and at least 35 per cent for retail individual investors.

Rahee InfratechCity based Rahee Infratech Limited, an integrated railway civil engineering, manufacturing and construction company, has filed its draft prospectus with Sebi for its IPO.

The IPO with a face value of ₹2 per equity share is a mix of fresh issues of up to ₹420 crore and an offer for sale of up to 2.7 million equity shares.

The proceeds from the fresh issue to the extent of ₹50 crore would be utilised for funding of capital expenditure requirements towards purchase of machinery, equipment and vehicles while ₹280 crore would be for funding the working capital requirements of the company and rest for general corporate purposes.