Khaitan & Co. served as the legal backbone for Vikram Solar Limited as the company embarked on its much-anticipated initial public offering (IPO). Acting as Indian legal counsel to the issuer and the selling shareholders, including Gyanesh Chaudhary and Vikram Capital Management Private Limited, Khaitan & Co. played a crucial role in shaping the deal.
The offering features a fresh issue of shares worth INR 15 billion, alongside the sale of over 17.4 million equity shares from key stakeholders. Notable selling shareholders include Gyanesh Chaudhary, offering up to 2.5 million shares, Vikram Capital Management with 5 million shares, and Anil Chaudhary, who is releasing close to 10 million shares.
Khaitan’s core team for this significant transaction included Abhimanyu Bhattacharya and Oishik Bagchi leading the charge, supported by associates Anshul Mordia, Hrithik Khurana, Saisha Bacha, Ria Chaudhary, and Siddharth Jain. Their legal acumen and strategy were essential in navigating this major step for Vikram Solar in the public market.
This IPO represents a pivotal moment for Vikram Solar as it capitalizes on the growing demand for renewable energy, positioning itself strongly within India’s solar power industry.
