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Solar photo-voltaic company Vikram Solar has fixed a price band of Rs 315-332 for its upcoming initial public offering (IPO), which will open for bidding next week, on August 19.The issue comprises a fresh component aggregating up to Rs 1,500 crore and an offer for sale component, which will include the selling shareholders offloading 17,450,882 shares in the company.At the upper range of the price band, the selling shareholders’ portion aggregates to Rs 579.36 crore, taking the total IPO size to Rs 2,079.36 crore. Investors can place bids for a minimum of 45 equity shares and in multiples of 45 thereafter.Gyanesh Chaudhary, Vikram Capital Management Private Limited, and Anil Chaudhary are the selling shareholders in the issue.The floor price for the issue has been set at 31.50 times the face value of the equity shares, while the cap price stands at 33.20 times the face value.Based on diluted EPS for FY25, the price-to-earnings ratio at the lower end of the price band (floor price) works out to 68.48 times, and at the upper end (cap price) it is 72.17 times. This compares with the average industry peer group P/E ratio of 44.28 times for FY25.Vikram Solar GMPThe shares of Vikram Solar are trading at a premium of Rs 65-70 in the grey market, translating into a GMP of 19.6%.Vikram Solar IPO key datesThe Vikram Solar IPO is scheduled to open for subscription on August 19, and will close on August 21. The allotment of shares is expected to take place on August 22, with the listing date set for August 26.Vikram Solar IPO book running lead managersThe book running lead managers for the issue are JM Financial Limited, Nuvama Wealth Management Limited, UBS Securities India Private Limited, Equirus Capital Private Limited, and PhillipCapital (India) Private Limited. The registrar to the offer is MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited.About Vikram SolarAs of March 31, 2025, Vikram Solar stands as one of India’s largest solar photovoltaic (PV) module manufacturers in terms of operational capacity, with over 17 years of industry experience. It has an installed manufacturing capacity of 4.50 GW for solar PV modules and an enlisted capacity of 2.85 GW as per the Ministry of New & Renewable Energy’s Approved List of Modules and Manufacturers (ALMM).Established in 2009 with an initial capacity of 12.00 MW, the company has expanded to 4.50 GW as of the date of its Red Herring Prospectus. Its manufacturing facilities in Falta SEZ, Kolkata, and Oragadam, Chennai, are strategically located with access to ports, rail, and road networks, supporting both domestic and international operations.To meet growing demand, the company is pursuing greenfield and brownfield expansion projects aimed at increasing capacity to 15.50 GW by FY26 and 20.50 GW by FY27.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Shares of FSN E-Commerce, which operates the Nykaa brand, climbed as much as 5.4% on Wednesday to Rs 215.95 on the BSE after brokerages reaffirmed bullish views and raised price targets following the company’s first-quarter results.Nuvama maintained its Buy rating on Nykaa with a target price of Rs 235, implying a 15% upside from the stock’s last traded price. The brokerage said market share gains remain a strategic priority, with strong momentum in the Beauty & Personal Care segment and improving growth in Fashion.It expects around 20% GMV growth and margin expansion, supported by narrowing losses in the Fashion and eB2B businesses. However, Nuvama trimmed earnings estimates for FY26 and FY27 by 10% and 12%, respectively, due to higher tax assumptions.JM Financial reiterated its Buy call and raised its target price to Rs 260 from Rs 250, implying a potential upside of 27.5% from the last traded price.The brokerage noted that Nykaa delivered robust growth despite a tepid demand environment, with the Beauty & Personal Care vertical posting 26% GMV growth and offline retail rising 33% year-on-year.JM Financial expects an accelerated improvement in consolidated EBITDA margins, driven by higher profitability in core beauty operations and declining losses in Fashion and eB2B.Q1 performance supports outlookNykaa reported a 79% year-on-year jump in consolidated net profit to Rs 24 crore for the quarter ended June 30, 2025, on a 23% increase in revenue from operations to Rs 2,155 crore.GMV grew 26% to Rs 4,182 crore, with the Beauty vertical contributing Rs 3,208 crore. EBITDA rose 46% from a year earlier, with margins expanding to 6.5% from 5.5%.The House of Nykaa Beauty business now accounts for 18% of the company's overall beauty GMV, said Falguni Nayar, founder and CEO of Nykaa.“Since our IPO, we have consistently delivered mid-20s growth at a consolidated level. Our cumulative customer base now stands at 45 million, reflecting the growing trust and adoption of our platform,” Nayar added.Also read | Nykaa Q1 Results: Cons PAT soars 79% YoY to Rs 24 crore, revenue jumps 23%(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The Canadian government is planning to add three new occupational categories to its Express Entry immigration system in 2026. The proposed categories target senior managers, scientists and researchers, and military personnel, aiming to simplify permanent residence applications for foreign nationals in these fields, as per a CIC News report.Immigration, Refugees, and Citizenship Canada (IRCC) announced these proposals in a public consultation notice on the government’s website. The consultation will remain open until September 3, 2025, and the government has not yet shared further details about the implementation timeline.Leadership category for senior managers The proposed Leadership category is aimed at senior managers. IRCC defines senior managers as “highly skilled workers who oversee the operations of a company or organization and who lead a team of employees.” The government expects this category to “boost the country’s competitiveness and advance economic growth and prosperity” by bringing new perspectives, accelerating digital transformation, and enhancing productivity.Research and innovation category for researchers and scientists The Research and Innovation category focuses on certain researchers and scientists. As per CIC News report, IRCC believes that scientific research and innovation can “enhance productivity and performance” and “stimulate economic growth.” However, the consultation did not specify which types of researchers or scientists would be prioritized.National security and defence category for military personnel The National Security and Defence category proposes prioritizing highly skilled military recruits from allied countries. This move aims to support the Canadian Armed Forces and national security objectives.Impact on international studentsExpress Entry categories influence eligibility for Post-Graduation Work Permits (PGWP) for international students. According to CIC News report, since 2024, 119 fields of study remain eligible, while 178 were removed. Changes to Express Entry categories in 2026 could lead to updates in PGWP field of study requirements, with announcements expected early next year.Continued priorities for 2026Along with these new categories, IRCC plans to maintain existing priorities in Express Entry. Francophone immigration outside Quebec remains a focus, with targets to increase French-speaking permanent residents to 10% by 2027.The government will also continue prioritizing sectors facing labour shortages, including healthcare, skilled trades, education, STEM (science, technology, engineering, and mathematics), and agriculture and agri-food.Introduced in 2023, category-based selection helps fill labour gaps by issuing Invitations to Apply (ITAs) to candidates with in-demand skills or language abilities. Category rounds often have lower Comprehensive Ranking System (CRS) cut-off scores compared to general draws, giving certain skilled workers an advantage. For instance, a recent healthcare and social service draw had a CRS cut-off of 475, compared to 534 in a general Canadian Experience Class draw.