Vikram Solar has completed the acquisition of Vikram Solar Australia and made the Australian business a wholly owned subsidiary, the Kolkata-headquartered solar manufacturer said in a regulatory filing to the exchanges. The company disclosed that it acquired the entire shareholding for a cash consideration of Rs 50,000, against the issuance of 67,683 equity shares of face value one Australian dollar each, resulting in 100 per cent ownership of the target entity. The filing clarified that the transaction does not qualify as a related party transaction and that no promoter or promoter group entity holds any interest in the acquired entity.

Vikram Solar Australia was incorporated in March 2026 and, according to the disclosure, has yet to commence commercial operations. The company described the subsidiary as belonging to the renewable energy sector and noted that no turnover history was disclosed given the recent incorporation. The parent company listed 26 August 2026 as the indicative date for completion of the acquisition and filed the intimation with the exchanges on the same day.

The acquisition was presented as part of Vikram Solar’s overseas expansion strategy and the filing indicated that the transaction would require regulatory approvals applicable to investments in Australian entities. The company set out the intention to align the new subsidiary with its broader international plans while complying with the necessary Australian regulatory processes before operational integration.

Vikram Solar, described as one of India’s leading solar module manufacturers, operates manufacturing facilities at Falta in West Bengal and at Oragadam in Tamil Nadu. The firm reported an aggregate engineering, procurement and construction capacity of 1.41 gigawatt (GW) and said it has shipped over 10 GW of high-efficiency modules to date. The business began module manufacturing in 2009 with a capacity of 12 megawatt (MW) and expanded to 4.50 GW in subsequent years, with a presence across 39 countries. The filing also noted that the company’s share price was almost flat at market close on 27 August, having fallen 4.8 per cent in the past month and 51.33 per cent over the past year.