New Delhi, Aug. 18 -- Solar manufacturing companies have delivered multibagger returns on Dalal Street in recent years. Riding that momentum, Vikram Solar, India's eighth-largest solar photovoltaic (PV) module manufacturer by capacity, is set to launch its initial public offering of shares on 19 August.

332 per share, the Rs.2,079.37-crore IPO comprises a fresh issue of Rs.1,500 crore and an offer for sale worth Rs.579.37 crore by the promoters.

At the upper end of the price band, Vikram's market capitalisation is estimated at Rs.12,009 crore. Interestingly, the IPO price is 14% below Vikram's most recent unlisted market price of Rs.385 and nearly 30% off its peak level of Rs.475, highlighting the risky nature of the unlisted market.

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