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Vikram Solar Unlisted Shares

346K

₹ 388 0.00 (0.00) 1 M

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About Vikram Solar Unlisted Shares

Vikram Solar Limited (formerly known as Vikram Solar Pvt. Ltd.) which was started in the year 2006, is today India’s largest domestic PV module manufacturer and integrated solar energy solutions provider with presence in solar photo-voltaic (“PV”) modules, engineering, procurement and construction (“EPC”) services, and operations and maintenance (“O&M”) service. With an international presence across 6 continents, they are an active contributor in shaping the solar revolution. Vikram Solar manufactures high-efficiency mono-crystalline and polycrystalline silicon PV modules. They have 3 manufacturing units in West-Bengal and Tamilnadu. In FY23, Vikram Solar has generated 6% of revenue from EPC and O&M Business and 94% business comes from selling solar modules.


 Highlights of Vikram Solar

a) Presence in 6 Continents.

b) As Vikram Solar is helping companies to generate electric energy by Solar, till date they have reduced carbon emission by 1.4 Million Tonnes.

c) They have exported PV modules worth 3.5 GW.

d) Currently, they have an employee Strength of 1962+ employees.

e) Total 42+ distributors covering 600 districts out of 718 total districts in India.

f) 970 MW of projects under operation and maintenance. Carrying forward the rich legacy and extensive manufacturing experience of the Vikram Group, Vikram Solar Limited has been building on the success story of over 4 decades, since 2005. They have been able to successfully demonstrate their capabilities since well before the solar sector witnessed active growth and development in India.

Advance R&D Infrastructure

As a Tier 1 PV module manufacturer, Vikram products are designed to maintain the standards of quality, reliability and performance. They have in-house research and development which help them to remain ahead of the curve in the ever-evolving solar technology space. Vikram Solar also conducts research study programmes with leading laboratories across the globe. Over the years, Vikram Solar has sought out competence and know-how in developing its Research & Development (R&D) team, which dedicatedly works towards improving the product portfolio and launching new products that serve the customers better. The R&D team conducts collaborative research programmes with leading laboratories like National Solar Energy Institute (INES), France and University of New South Wales (UNSW), Australia.

Total Capacity of Vikram Solar

Currently, they have a capacity of 1.2 GW of production of PV modules.  Vikram Solar focus on adopting pioneering and innovative technologies, the manufacturing facility has the machineries and equipments imported from United States, Switzerland, Germany and Japan.

Total Projects Completed

A comprehensive solar EPC solutions provider, Vikram Solar has deployed world-class technology to design, install and commission benchmark solar projects. Vikram Solar Limited takes pride in its track record of installing & commissioning more than 1.35 GW+ of solar projects across India.

Future Plans of Vikram Solar

Vikram Solar focus today is to establish a new and world-class 1.3 GW module manufacturing facility in Tamil Nadu. Towards this, they are going to invest ~5500 Cr and will take its total annual module manufacturing capacity to 2.5 GW, making Vikram Solar the largest solar panel manufacturer in India. The next goal is to enhance the Tamil Nadu manufacturing facility’s capacity to 3 GW within the next 5 years.

Achievements of Vikram Solar in last 15 years in Solar Sector

a) First company to contribute to the solarisation of world’s maiden fully solarised airport in Kochi, Kerala.

b) Designed, installed and commissioned India’s first floating solar plant in Kolkata, West Bengal.

c) Executed the largest single-shed rooftop solar plant in eastern India- 2.15 MW solar plant at Nilganj, North 24 Paraganas, West Bengal for Keventer Agro Limited.

d) Commissioned rooftop solar plant on the tallest building in Kolkata- ‘THE 42’ with 22.5 kW capacity.

e) Commissioned 225 MW plant, the largest in the state of Uttar Pradesh for NTPC Ltd. Vikram Solar also come with the experience of commissioning 6 solar projects for airports (Kolkata, Calicut, Dibrugarh, Gaya, Gondia and Cochin) in India.

Growth in the last 5 years
 



Government PLI Schemes for PV Modules 

The government has enhanced the funding under the production linked incentive (PLI) scheme for the domestic solar cells and module manufacturing to Rs 24,000 crore from the existing Rs 4,500 crore to make India an exporting nation. "Government has brought the PLI scheme (for solar cells and modules) worth Rs 4,500 crore. They invited bids and  got 54,500 MW manufacturing capacity of solar equipment. Industry body asked the government to sanction Rs 19,000 crore more under the PLI, which was approved (in-principle). Now Solar Module has a PLI of Rs 24,000 crore. Going forward, the production-linked incentive (PLI) scheme for solar manufacturing would  advance Vikram Solar capacity enhancement plans.

Key Risk in Vikar Solar

a) Project execution: INR 83 Cr(included in Trade Receivables in the Financial Statements) which has been withheld/recovered by certain customers related to EPC contracts on account of Liquidated damages, generation loss etc. which the Company has not acknowledged and the matter has been referred to Arbitration/court as per the terms of the respective contracts. The management is hopeful of resolution of the matter in favor of the Company and necessary adjustments will be made based upon the outcome of the arbitration proceeding.

b) Corporate Governance: Remuneration paid to the Managing Director and Executive Directors of Company, during the year ended March 2023 which has exceeded the limit prescribed under section 197 of the Companies Act, 2013 by INR 1.367 Cr which is subject to approval of the Shareholders of the Company. Pending such approval, no adjustment has been made in the financial statements.

Industry Outlook:

India’s solar industry is expected to grow faster in 2021, with the Ministry of New and Renewable Energy aiming to achieve its ambitious target of having 114 GW solar capacity by 2022. The Indian government is working to develop a green city in each state by installing solar rooftop systems on all houses and solar parks on the city’s outskirts.

Factors Favouring the growth of Solar Cell

a)
Reduction in solar tariff:

One of the major growth drivers for solar power in India is the reduction in solar tariffs from ~7.36/kWh (US 10 cents/kWh) in FY 2014-15 to ~2.63/kWh (US 3.57 cents/kWh) in FY 2019-20.

b)
Make in India initiative: The Government of India is actively promoting development of domestic solar cell and module manufacturing capacity through various schemes under the Make in India initiative.

c)
Extension of safeguards tariff: In December 2020, India also extended the safeguard tariff on imported solar cells and modules for another year.

d)
Rent a Roof’ Policy: In 2017, the Government of India introduced a ‘rent a roof’ strategy to encourage solar power generation. This boosted the country’s goal of producing 40 GW solar power from rooftop installations by 2022. However, pandemic-induced restrictions slowed growth, but when the situation normalises, the policy will help push the solar sector.

e)
Solar Innovation: Another growth driver for the solar market is its innovation focus, which brought to the market light-sensitive nanoparticles, bifacial solar modules, floating solar panels, among others.

Challenges in Solar Business

a)
The DisCom Issue: The Government of India took several measures like Ujwal DISCOM Assurance Yojana (UDAY Scheme) instituted in 2015 to address the financial challenges faced by power distribution companies (DisComs). However, sequential lockdown during COVID-19 made it difficult for government agencies to get power distribution companies to sign a formal Power Sale Agreement.

b)
Subdued electricity demand: Decreased electricity demand has emerged as a major challenge. While the concern has persisted, the pandemic caused demand levels to go down further

c)
Land acquisition issues: Land allotment for renewable energy is a major concern. To address this issue, the Government of India introduced policies like ‘rent a roof’ strategy to boost solar power, but pandemic-induced restrictions brought forth unprecedented challenges.

Indian Solar Market Overview

In India, the solar PV market plummeted to the lowest level in five years. However, India is at the sixth position in terms of new solar power installations in 2020 and fifth largest in terms of overall capacity. During the year, around 4.4 GW of solar PV capacity was added, bringing the total national capacity to 47.4 GW. Pandemic-related lockdowns and labour shortages caused delay in project construction and auctions, which caused the de-growth. Additionally, government agencies struggled to get distribution companies to sign Power Sale Agreements (PSA), leaving roughly 17-18 GW of solar projects without a PSA. Apart from that, rising cost of raw materials and PV modules, as well as increasing shipping and freight costs, all contributed to the solar industry’s decline. Additionally, the utility-scale solar project, which amounts to ~78% of the capacity installed in 2020, also declined by 60% year-on-year, with 2.520 GW installations. Rooftop market shrunk by 22% with 0.719 GW installations. In the utility-scale solar power segment, Andhra Pradesh, Gujarat, and Rajasthan are the top three states, contributing ~51% of the installations.  

1. Government policy on solar: The Government of India has launched various schemes to encourage generation of solar power in the country like Solar Park Scheme, VGF Schemes, CPSU Scheme, Defence Scheme, Canal bank & Canal top Scheme, Bundling Scheme, Grid Connected Solar Rooftop Scheme etc.

2. Government targets to expand solar capacity to 280 GW by 2030 from 67 GW currently by adding an average addition per year of 30 GW over next seven years. The cost for 1GW solar cell is about Rs. 2500 crore leading to an estimated annual market size of approximately Rs. 75000 crore for the targeted growth in India.

3. ALMM and how it benefits Indian module manufacturers: ALMM" typically refers to "Approved List of Models and Manufacturers." It is a regulatory framework and certification system established by the Ministry of New and Renewable Energy (MNRE) in India. The ALMM framework is primarily associated with solar photovoltaic (PV) modules and is designed to ensure the quality and performance of these modules used in solar projects. Here's how ALMM benefits Indian module manufacturers:

A) Quality Assurance
B) Eligibility for Government projects
C) Access to incentives and subsidies
D) Market Credibility
E) Competitiveadvantageinexportmarket

As on August 17, 2023, the Vikram Solar is one of the largest enlisted capacities in the Ministry of New & Renewable Energy’s Approved List of Module Manufacturers (“ALMM”).

Basic Custom duty on Solar Module and Solar cells: India started levying a customs duty of 40 % on solar modules and 25 % on solar cells from April 2022 in a bid to cut imports and boost local manufacturing. Earlier it was 20%.

Top 5 players in Solar manufacturing in terms of capacity:

A) WAAREE ENERGIES LIMITED: Waaree Energies Ltd. was founded in 1989. Since its beginning, it has covered a long journey of more than 3 decades and now comprehends a manufacturing capacity of over 12GW. Waaree Energies is the largest solar panel manufacturer in India and maintains a noticeable position in the solar energy sector while having a presence in over 380 locations in India & 20 foreign nations.

B) ADANI SOLAR GROUP: Adani Solar was incorporated in 2016. This solar panel manufacturer in India has a 4 GW manufacturing capacity. The company

offers mono facial & bifacial modules (in PERC Technology) which help to tap solar energy. Currently, Adani Solar is creating an ecosystem for 10 GW Solar PV Manufacturing in India.

C) VIKRAM SOLAR: Vikram Solar was founded in 2006. A presence in the solar energy sector of more than 32 countries, experience in the installation of 1.42 GW projects in India, and annual manufacturing capacity of 3.5 GW modules make Vikram Solar a competent brand in the solar energy industry. This solar panel manufacturer is ambitiously working to meet India’s green energy goal of 500 GW by 2030. So far, Vikram Solar has commissioned more than 300 projects at multiple locations.

D) GOLDI SOLAR PRIVATE LIMITED: Gujarat-based Goldi Solar was started in 2011. It offers solar energy products in the domestic market as well as in 20 other countries. Goldi Solar has achieved a record growth from 10 MW to 500 MW manufacturing capacity in a span of just 10 years. Goldi Solar has annual manufacturing capabilities of 2.5 GW and is currently planning to add another 2000 MW by the end of 2023.

E) SAATVIK GREEN ENERGY PVT. LTD.: Saatvik Green Energy Pvt. Ltd. started its journey in the solar sector in 2015 from Haryana. It actively contributes to the solar energy sector with an annual production capacity of 1 GW. This solar panel manufacturer has its manufacturing plant in Ambala (Haryana) and soon going to set up another one with a capacity of 1.2 GW at Gandhidham, Gujarat

Key Highlights Vikram Solar Unlisted Shares for FY24

Financial Highlights:

  1. Revenue: INR 2510 Cr
  2. EBITDA: INR 398 Cr
  3. PAT (Profit After Tax): INR 79 Cr
  4. Share of Exports in Revenue: 61.58%

Operational Highlights:

  1. Total Modules Manufactured: 16,11,014 modules in FY 2023-24
  2. Modules Shipped Globally: 878 MW in FY 2023-24
  3. Cumulative MW Modules Shipped Globally: Over 5 GW from FY 2010-11 to FY 2023-24
  4. EPC Projects in Portfolio (Commissioned): Over 1,400 MW
  5. O&M Projects in Portfolio (Ongoing): Over 700 MW

Manufacturing Facility

Operational Facilities:

  • Falta SEZ, Kolkata, West Bengal:
      • Capacity: 2.2 GW
      • Advantages: Strategic location in SEZ with proximity to ports, rail, and road networks, facilitating seamless distribution to domestic and international markets.

  • Oragadam, Chennai, Tamil Nadu:
    • Capacity: 1.3 GW
    • Focus: Catering to increasing demand in the solar energy sector, promoting sustainable progress.

Upcoming Facilities:

  • Gangaikondan, Tamil Nadu:
      • Capacity: 3 GW cell and 6 GW module manufacturing. Manufacturing plant to be operational by FY 2025-26.
      • Purpose: Significant capacity expansion.
  • USA:
    • Status: Site selection stage for a new solar PV manufacturing facility.
    • Goal: To meet the growing demand for renewable energy in the United States.

Financial Analysis of Vikram Solar

Balance Sheet and Cash-Flow Analysis

As of 31st March 2024, the company has a total debt of ₹600 crore in long-term debt and ₹200 crore in short-term debt. Outstanding dues to creditors amount to ₹582 crore. On the asset side, the company holds ₹112 crore in trade receivables, ₹114 crore in cash, and ₹388 crore in inventory. The total current liabilities stand at ₹141 crore, while total current assets amount to ₹197 crore, resulting in a current ratio of 1.39x, which is considered manageable. The total equity is ₹460 crore, leading to a debt-to-equity (D/E) ratio of approximately 1.73x—on the higher side. However, after a recent ₹700 crore private placement in June 2024, the D/E ratio is expected to drop below 1.

The company generated approximately ₹170 crore from operations. Out of this, ₹68 crore was allocated for purchasing property, plant, and equipment (PPE), ₹25 crore was used to repay long-term debt, and ₹137 crore was spent on interest costs. Additionally, the company took out a short-term loan of ₹93 crore. In total, the ₹170 crore from operations, combined with the ₹93 crore loan, amounted to ₹260 crore, which was used to purchase ₹68 crore in assets and pay off ₹198 crore in debt.

In summary, due to the high debt levels and capex, the company generated only ₹7 crore in cash.

P&L Analysis

1. The company's top line has grown by 21% in FY24, reaching INR 2,523 crore. Notably, 61% of the revenue has been generated from exports, with a significant contribution from the US market. The US ban on Chinese module companies has opened up opportunities for countries like India, Indonesia, and Vietnam. The US market also offers higher margins. Additionally, Vikram Solar is establishing a manufacturing unit in the US to capitalize on the new solar policy, which makes local production more profitable than exporting from India.

2. The company has achieved an EBITDA of INR 398 crore in FY24, a significant increase from INR 200 crore in the previous year.

3. The company recorded a PAT of INR 80 crore in FY24, up from INR 13 crore in the previous year.

4. The company is currently valued in the unlisted market at approximately INR 9,000 crore market capitalization.


UnlistedZone’s View

Vikram Solar is positioned as a significant player in the global solar energy market, showing impressive growth and strategic advancements. The company has successfully expanded its manufacturing capacity to 3.5 GW in FY 2023-24, with plans to reach 10.5 GW by FY 2025-26, reflecting its commitment to scaling operations and meeting increasing demand. Their involvement in both manufacturing and EPC business further diversifies their revenue streams and market reach.

A key strength of Vikram Solar is its eligibility for major subsidies, such as the Production Linked Incentive (PLI) for its 2.4 GW solar facility and the TNGO scheme. These financial incentives support its growth, allowing for more aggressive expansion and innovation. The integration of advanced technologies like the n-TOPCon technology in their Hypersol product demonstrates the company’s focus on staying at the forefront of technological advancements in the industry.

Financially, Vikram Solar reported strong performance in FY24, with revenue of INR 2,510 crore, EBITDA of INR 398 crore, and a PAT of INR 79 crore. The significant contribution of exports, particularly to the U.S. market, where margins are higher, underlines the company’s strong international presence. The decision to establish a manufacturing unit in the U.S. aligns with the new solar policies there, potentially boosting profitability further.

However, the company faces challenges with a high debt-to-equity ratio, standing at approximately 1.73x as of March 2024. The recent ₹700 crore private placement is expected to alleviate some of this financial pressure, lowering the D/E ratio below 1. Despite the high debt, the company has managed its finances efficiently, maintaining a manageable current ratio of 1.39x.

Looking ahead, Vikram Solar’s strategic investments in R&D, coupled with its broad market presence across various solar segments, position it well for continued growth. The upcoming expansion of their manufacturing facilities in India and the U.S. will likely enhance their capacity to meet global demand. With its valuation at approximately INR 9,000 crore in the unlisted market, Vikram Solar stands as a promising player, poised for significant future growth in the renewable energy sector.

... Read more

Fundamentals

Vikram Solar Unlisted Shares Price
₹ 388
Per Equity Share
Lot Size
100 Shares
52 Week High
₹ 495
52 Week Low
₹ 235
Depository
NSDL & CDSL
PAN Number
AABCI5168D
ISIN Number
INE078V01014
CIN
U18100WB2005PLC106448
RTA
Link Intime
Market Cap (in cr.)
₹ 12369
P/E Ratio
154.58
P/B Ratio
27.19
Debt to Equity
1.82
ROE (%)
17.99
Book Value
14.27
Face Value
10
Total Shares
318784996
Vikram Solar Unlisted Shares

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Frequently Asked Questions

Find answers to common questions that you may have in your mind.

Please find below the procedure for buying Vikram Solar Unlisted Shares at UnlistedZone.

  1. 1. You confirm booking of Vikram Solar Unlisted Shares Unlisted Shares with us at a trading price.

  2. 2. You provide your client master report (ask the broker if not available) along with PAN Card and Cancelled Cheque in case you are not transferring funds from the bank account as mentioned in the CMR Copy. These are KYC documents required as per SEBI regulations.
  3.  
  4. 3. We Will Provide the Bank details. You need to transfer funds to that account.

  5. 4. Payment has to be done in RTGS/NEFT/IMPS CHEQUE TRANSFER. No CASH DEPOSIT.

  6. 5. Payment has to be done from the same account in which shares are to be credited.

  7. We will transfer the shares in 24 hours if funds are credited before 2 pm. Important

    Note: Please note that the lock-in period for selling Vikram Solar Unlisted Shares Unlisted Shares is 6 months after listing. Hence, you can’t sell Vikram Solar Unlisted Shares Unlisted Shares which you bought in Pre-IPO for 6 months after its listing. i.e., You can sell it only after 6 months calculated from the listing date. For any queries, please contact us at sales@unlistedzone.com

Please find below the procedure for selling Vikram Solar Unlisted Shares at UnlistedZone.


  1. 1. We will confirm our buying price of Vikram Solar Unlisted Shares.

  2. 2. We will give you our client master report and you will transfer Vikram Solar Unlisted Shares to our demat account.

  3. 3. We will ask for your bank details once Vikram Solar Unlisted Shares are received in our demat account.

  4. 4. We will transfer the funds to your bank account within 24 hrs of receiving Vikram Solar Unlisted Shares.

  5. 5. Payment will be made in RTGS / NEFT / CHEQUE TRANSFER/IMPS. No CASH DEPOSIT.

  6. 6. Payment will be given in the same account which is linked to the demat account or you need to provide the cancelled cheque showing your name to verify. As per SEBI regulations, the transfer of funds to a third-party account is not legal and our policy refrains us from doing so.

    Note:
    The price at which we are buying is fixed for 3 days. If you can't sell your stock within 3 days, then the price of that day will be applicable when we receive the shares in our demat.

The lock-in period for Vikram Solar Unlisted Shares varies depending on the category of investors:

  1. 1. For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Vikram Solar Unlisted Shares.

  2. 2. For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period.

  3. 3. For other types of investors, which include Retail Investors, High Net-worth Individuals (HNIs), or Body Corporates, the lock-in period is 6 months from the date of the IPO listing of Vikram Solar Unlisted Shares.

This regulation was introduced by SEBI in August 2021. The rule change, which reduced the lock-in period from one year to six months, was aimed at encouraging more investments in startups that are preparing for public offerings or IPOs. This reduction in the lock-in period is seen as a significant step forward, and since its introduction, many Portfolio Management Services (PMS) have been advising their clients to invest in Pre-IPO shares to capitalize on the benefits of early-stage investments.

However, for SME IPOs, the lock-in period is of One year.

DIS, or Delivery Instruction Slip, is a tool used by investors to sell or transfer Vikram Solar Unlisted Shares from their demat account to another. There are two types of DIS Methods:

1. Offline-DIS: This is a traditional, paper-based method for transferring shares. When using Offline-DIS, investors are required to fill out a DIS form and submit it to their broker. The necessary fields in the form include:

a. ISIN number of Vikram Solar Unlisted Shares.

b. Name of Vikram Solar Unlisted Shares.

c. Quantity of Vikram Solar Unlisted Shares.

d. Consideration Amount.

e. Target DP ID and Client ID.

f. Annexure.

2. Online DIS: Some brokers offer the facility to transfer Vikram Solar Unlisted Shares through an online DIS system. It's advisable to check with your broker if such a facility is available.

For instance, platforms like Angel Broking provide an Online-DIS feature. In this method, an investor simply needs to add a beneficiary and transfer Vikram Solar Unlisted Shares by filling in details similar to those required in the Offline-DIS.

For a more comprehensive understanding of this process, you can refer to our detailed article: https://unlistedzone.com/how-do-i-sell-my-unlisted-shares/

 

In recent years, the unlisted share market has expanded significantly, leading to a reduction in the minimum investment amount. Previously, the typical investment ticket size ranged from 5-10 Lakhs, but in the current market scenario, it has decreased to between 35-50k. Therefore, through our UnlistedZone platform, if someone wishes to invest in Vikram Solar Unlisted Shares, the minimum investment required would now be in the range of 35-50k

Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely

When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.

Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:

    • 1. Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%. However, it has now changed in Budget 2024 from 23rd July 2024 to 12.5%.

    • 2. Indexation Benefit
      : This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain. However, This has removed in the Budget 2024 from 23rd July 2024.

    • 3. Importance for Investors
      : Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.

    • 4. Calculation
      : New LTCG will be calculated from 23rd July 2024 as flat rate of 12.5%.

    • 5. Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.

    • 6. Relevance
      : This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.

When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:

Transition to Listed Market Tax Rates: 
Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favorable tax treatments for listed shares, as per the prevailing tax laws, will apply.

Taxation Based on Holding Period: 
The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.

Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.

Conversely, if sold within one year, Short-term Capital Gains (STCG) tax rates apply.

Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.

Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance.

When you purchase Vikram Solar Unlisted Shares through UnlistedZone, it's important to note that, as per SEBI regulations, these shares can only be transferred to a demat account.

There are two primary ways to check the credit of Vikram Solar Unlisted Shares in your account:

1. Using NSDL or CDSL Applications:

Download the NSDL or CDSL application from the Google Play Store.

To determine whether your stock broker is registered with NSDL or CDSL, you can examine the format of your Demat Account number. The Demat Account number consists of 16 characters, combining the DP ID and Client ID.

DP ID is the unique identification number of the Broker, assigned by CDSL or NSDL.

Client ID is the unique identification number of the Client, representing their portfolio.

In CDSL, the Demat Account number is entirely numeric (e.g., 12345678 for DP ID and 91234567 for Client ID).

In NSDL, the first two characters are alphabetic, representing the country (e.g., 'IN' for India), followed by a 6-digit unique number for the Broker (DP ID) and an 8-digit Client ID (e.g., IN123456 for DP ID and 78912345 for Client ID).

2. Checking in Broker's Application:

The credit of Vikram Solar Unlisted Shares can also be checked in your broker's application. However, it's important to note that it may take T+2 days for the shares to show up in the application after the transaction.

The Vikram Solar Unlisted Shares are credited in the demat account on the same day as the transfer of funds into our company's bank account.

"The price of Vikram Solar Unlisted Shares can be checked in two ways. First, you can join our Telegram channel, where we share the latest prices of all unlisted shares daily in the morning. Secondly, you can check price on our UnlistedZone platform to view historical graphs and prices of all shares in one place."

Investing in Vikram Solar Unlisted Shares, like any investment, carries certain risks that should be carefully considered:

1. Liquidity Risk: Unlisted shares, by their nature, are not traded on public stock exchanges. This can result in lower liquidity compared to listed shares, meaning it might be more challenging to find buyers when you wish to sell your shares.

2. Price Volatility: The price of Vikram Solar Unlisted Shares can be more volatile compared to listed shares. This is partly due to the lack of regular public trading and potentially limited information available about the company's financial health and performance.

3. Regulatory Risk: Unlisted shares are subject to different regulatory frameworks than listed shares. Any changes in regulations or compliance requirements can impact the value and tradeability of these shares.

4. Limited Information: There may be less publicly available information about unlisted companies. This can make it more difficult to assess the company's true value and potential for growth, increasing the risk of investment.

5. No Guarantee of Future Listing: Investing in Vikram Solar Unlisted Shares with the expectation of future listing on a public exchange carries the risk that the listing may not occur. This can affect both the liquidity and potential value appreciation of the shares.

6. Company-Specific Risks: Each company has its own set of risks based on its industry, management, financial health, and market position. These risks can significantly impact the performance of your investment in Vikram Solar Unlisted Shares.

UnlistedZone: Pioneering Excellence in India's Unlisted Share Market

UnlistedZone stands as India's fastest-growing and leading marketplace for buying and selling unlisted shares. Over the past 5 years, we have carved a niche in the financial market, website hit user inflows over a 2 million users on our platform since inception. This remarkable journey is underscored by the sheer volume of transactions facilitated through UnlistedZone, which has already surpassed the 300 Crore mark.

At the helm of our success are our esteemed co-founders, Mr. Umesh Paliwal and Dinesh Gupta. Their insights and expertise are regularly sought after by leading financial publications such as MoneyControl, Business Standard, and The Economic Times, particularly for their authoritative views on IPOs and the unlisted market. Our journey over these 5 years has not just been about numbers; it's been about building trust and reliability.

UnlistedZone has established a formidable reputation in the industry, earning the trust and confidence of our users. This trust is our cornerstone, ensuring that new investors can engage with us without the apprehensions of fraud that are often associated with unknown brokers in the market.

At UnlistedZone, we are committed to maintaining the highest standards of transparency and integrity, ensuring that your investment journey is not just profitable but also secure and trustworthy.

Valuation Methodology at UnlistedZone for Vikram Solar Unlisted Shares

At UnlistedZone, we employ a meticulous and strategic approach to valuing Vikram Solar Unlisted Shares, utilizing two primary methods: Benchmark Valuation Based on Latest Funding:

1. Our first step is to examine the most recent funding round for Vikram Solar Unlisted Shares. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts. This method is particularly effective in capturing the latest market sentiment and financial health of the company.

2. Comparison with Listed Peers: In cases where there hasn't been recent funding for Vikram Solar Unlisted Shares, we adopt a comparative approach. This involves identifying a business in the listed market that closely resembles Vikram Solar Unlisted Shares in terms of industry, size, and business model. By comparing and contrasting the two, we can ascertain a fair valuation for Vikram Solar Unlisted Shares, drawing on the market data and performance metrics of its listed counterpart.

Investor Advisory: As experts in the unlisted space, we at UnlistedZone emphasize the importance of thorough risk assessment to all our investors. It's crucial to evaluate all risk parameters carefully before investing in unlisted shares. This due diligence is key to making informed and strategic investment decisions in the dynamic and evolving unlisted market.

"At UnlistedZone, our approach to sourcing Vikram Solar Unlisted Shares involves a strategic and direct method. Primarily, we acquire these shares from two key groups:

1. Employees of the Company: Often, employees of a company receive shares as part of their compensation or through employee stock option plans (ESOPs). Over time, some of these employees may decide to liquidate their holdings for various reasons, such as financial needs or portfolio diversification. We engage with these employees, providing them a platform to sell their shares.

2. Initial Investors: These are the early-stage investors or angel investors who provided capital to the company during its initial phases. As the company grows and evolves, these initial investors might look to sell part or all of their stake in the company. This could be for reasons like capitalizing on their investment, reallocating assets, or other strategic financial decisions.

By connecting with these groups, UnlistedZone ensures a reliable and consistent supply of Vikram Solar Unlisted Shares for our clients. This method not only helps employees and initial investors in liquidating their assets but also provides our clients with access to shares that are not readily available in the public market. It's a win-win for both the sellers and buyers, facilitated efficiently through our platform."

"The Securities and Exchange Board of India (SEBI) does have a regulatory influence on the unlisted market, though it's not as comprehensive as its oversight of the listed markets.

Key aspects of SEBI's involvement in the unlisted space include:

1. Applicable Rules and Regulations: Certain SEBI regulations are indeed applicable to transactions in the unlisted market. This includes the mandatory lock-in period of 6 months, the requirement to pay stamp duty, and depository participant (DP) charges for every transaction. These measures are in place to ensure a certain level of standardization and protection in the unlisted market, similar to those in the listed markets.

2. Lack of Specific Regulation for Unlisted Brokers: As of now, SEBI does not have specific regulations for becoming an unlisted broker. This means that while certain SEBI rules apply to transactions within the unlisted market, the process of becoming a broker in this space is not directly regulated by SEBI. This lack of direct regulation highlights the importance of due diligence by investors when engaging with brokers in the unlisted market.

3. Investor Protection and Transparency: The regulations that do apply, such as the lock-in period and transaction charges, are designed to protect investors and add a layer of transparency to these transactions. They aim to mitigate some of the risks inherent in trading unlisted securities, which typically don't have the same level of public scrutiny and regulatory oversight as listed securities. In summary, while SEBI's regulatory framework does extend to certain aspects of the unlisted market, it does not comprehensively regulate all aspects of it, particularly concerning the accreditation of unlisted brokers. This underscores the need for investors to exercise caution and conduct thorough research when participating in the unlisted market."

"For comprehensive and up-to-date news and information about Vikram Solar Unlisted Shares, we have several platforms to keep you informed. Our website is regularly updated with the latest insights and developments. For real-time updates and engaging discussions, you can join our Telegram channel. Additionally, follow us on Twitter for quick news bites and industry trends. And for more in-depth analysis and informative content, subscribe to our YouTube channel. These resources are designed to provide you with a well-rounded understanding of the unlisted market, ensuring you have access to all the information you need about Vikram Solar Unlisted Shares."

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