Vikram Solar Ltd promoters pledged 110,060,643 equity shares, a 30.4% stake, through Vikram Capital Management (6.05%), Gyanesh Chaudhary Family Trust (20.21%) and VSL Ventures (4.17%) to secure a working capital loan, raising concerns over leverage. Earlier, the company won a ₹273 crore order from AB Energia for 200 MW solar modules to be supplied by March 2026.