Vikram Solar IPO
Vikram Solar IPO is listed on BSE and NSE, priced at ₹315–₹332 per share. The stock debuted at ₹338, delivering a listing gain of 1.8%. The IPO had a lot size of ₹45 shares and a minimum investment of ₹14,940.
Vikram Solar Limited IPO
- IPO Dates
- Aug 19, 2025 – Aug 21, 2025
- Price band
- ₹315-332 per equity share
- Minimum Investment
- ₹14,940
- Issue size
- ₹2079.37 Cr
- Lot size
- 45
- Allotment Date
- Aug 22, 2025
- Listing
- Aug 26, 2025
- Listing At
- BSE, NSE
IPO timeline
-
Aug 19, 2025
Open Date
Completed
-
Aug 21, 2025
Close Date
Completed
-
Aug 22, 2025
Allotment Date
Completed
-
Aug 26, 2025
Listing Date
Completed
Price Summary
- Last closing
- 207.50 (-37.5%)
- 52 week high
- 407.95
- 52 week low
- 162.10
- Last update
Vikram Solar IPO Subscription Details
View Subscription DetailsVikram Solar IPO subscription status shows demand across QIB, NII, and retail categories, helping investors understand participation levels.
Last updated:Vikram Solar IPO Essentials
Vikram Solar IPO Details
Vikram Solar IPO is priced at ₹315-332 per share with a total issue size of 2079.37 crore. The IPO has a lot size of 45 shares and is listed on BSE and NSE.
- Issue price
- ₹315-332 per equity share
- Lot size
- 45 shares
- Face value
- ₹10 Per Equity Share
- Issue size
- Total 2,079.37 Cr :
#Fresh Issue : 4,51,80,722 shares(aggregating up to ₹1,500.00 Cr) +
#OFS : 1,74,50,882 shares of ₹10(aggregating up to ₹579.37 Cr) - Total issue size
- 6,26,31,604 shares
(aggregating up to ₹2079.37 crore) - Fresh issue
- 4,51,80,722 shares
(aggregating up to ₹1500 crore) - Offer for sale (OFS)
- 1,74,50,882 shares
(aggregating up to ₹579.37 crore) - Listing at
- BSE, NSE
- List price
- 338.0(NSE)
- Listing date
- Registrar
- MUFG Intime India Private Limited (Link Intime)
- Lead manager
-
Jm Financial Limited, Nuvama Wealth Management Limited, Ubs Securities India Private Limited, Equirus Capital Private Limited, PhillipCapital India Private Limited
Market Lot Size
Investors can bid for a minimum of 45 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 45 | ₹14,940 |
| Retail(max) | 13 | 585 | ₹1,94,220 |
| sHNI(min) | 14 | 630 | ₹2,09,160 |
| sHNI(max) | 66 | 2,970 | ₹9,86,040 |
| sHNI(min) | 67 | 3,015 | ₹10,00,980 |
Vikram Solar IPO Reservation
Vikram Solar IPO reservation details show category-wise allocation of shares. Out of the total 6,26,31,605 shares, approximately 19.9% are reserved for QIB, 14.93% for NII, 34.83% for retail investors, 0.48% for employees, and 29.86% for anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 1,86,99,120 (29.86%) | |
| QIB Shares Offered | 1,24,66,080 (19.9%) | |
| NII (HNI) Shares Offered | 93,49,560 (14.93%) | |
| bHNI > ₹10L | 62,33,040 (9.95%) | 9,893 |
| sHNI < ₹10L | 31,16,520 (4.98%) | 4,946 |
| Retail Shares Offered | 2,18,15,640 (34.83%) | 4,84,792 |
| Employee Shares Offered | 3,01,205 (0.48%) | |
| Total Shares Offered | 6,26,31,605 (100%) |
Vikram Solar IPO Analytics
Vikram Solar IPO category-wise subscription trends show day-wise participation across QIB, NII, and retail investors.
Vikram Solar IPO Subscription Status
Vikram Solar IPO subscription status shows demand across retail, NII, and QIB categories, helping investors understand overall participation trends.
The IPO subscription status indicates investor demand across categories.
| As on | QIB |
NII
bHNI
sHNI
|
Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 1,24,66,080 |
93,49,560
62,33,040
31,16,520
|
2,18,15,640 | 4,39,32,485 |
|
Day 1
19-08-25 05:00 PM
|
0.02 x |
3.84x
3.75x
4.02x
|
1.37 x | 1.52 x |
|
Day 2
20-08-25 05:00 PM
|
0.11 x |
13.01x
12.85x
13.34x
|
3.47 x | 4.57 x |
|
Day 3
21-08-25 05:00 PM
|
142.79 x |
50.90x
57.35x
37.99x
|
7.64 x | 54.62 x |
|
Total No. of Applications
|
bHNI | sHNI | Retail |
|---|---|---|---|
| 15,23,405 (Approx) | 11.5x | 38x | 6.6x |
Vikram Solar Valuations
Earnings
- EPS Pre IPO
- ₹4.42/-
- EPS Post IPO
- ₹3.87/-
- P/E Pre IPO
- 75.16
- P/E Post IPO
- 85.88
Returns
- ROE
- 16.57%
- ROCE
- 24.49%
- RoNW
- 11.26%
- PAT Margin
- 4.08%
Fundamentals
- Debt / Equity
- 0.19
- Price / Book
- 8.46
Vikram Solar Financials( In Crs.)
| 31-Mar-25 | 31-Mar-24 | 31-Mar-23 | |
|---|---|---|---|
| Assets | 2,832.15 | 2,585.5 | 2,476.29 |
| Revenue | 3,459.53 | 2,523.96 | 2,091.91 |
| Profit After Tax | 139.83 | 79.72 | 14.49 |
| Net Worth | 1,241.99 | 445.42 | 365.20 |
| Reserves & Surplus | 932.60 | 192.16 | 113.07 |
| Total Borrowing | 230.67 | 808.33 | 737.79 |
Vikram Solar Company & Offer Insights
About Vikram Solar
Founded in 2005, Vikram Solar Limited is a manufacturer of solar photo-voltaic (PV) modules.
Key Activities:
Solar Photovoltaic (PV) Module Manufacturing: With expertise in manufacturing high-efficiency solar PV modules, Vikram Solar serves the domestic and export markets.
Engineering, Procurement, and Construction (EPC) Services: Vikram Solar offers end-to-end EPC services for solar power projects, delivering effective project execution from conception to commissioning.
Operations and Maintenance (O&M): Vikram Solar provides O&M services to enhance the performance and lifespan of solar power installations.
The products of the company in solar energy include the following high-efficiency solar PV modules: (i) p-type monocrystalline silicon based Passivated Emitter and Rear Contact (PERC) modules; (ii) n-type monocrystalline silicon based Tunnel Oxide Passivated Contact (TOPCon) modules; and (iii) n-type monocrystalline silicon based heterojunction technology (HJT) modules; all of these either bifacial (glass-to-glass/ glass-to-transparent back sheet) or monofacial (glass-to-white/black back sheet) modules.
Production facilities at:
Falta SEZ, Kolkata, West Bengal and Oragadam, Chennai, Tamil Nadu.
The company have established a pan-India footprint, covering 23 states and three union territories, through an extensive distributor network of 41 authorized distributors, 64 dealers and 67 system integrators.The company's domestic clients comprise major government organizations, including National Thermal Power Corporation, Neyveli Lignite Corporation Limited and Gujarat Industries Power Company Limited, and major private independent power producers (IPPs), including ACME Cleantech Solutions Pvt. Ltd.
As of March 31, 2024, we have 1,513 regular employees and 728 contractual employees.
Vikram Solar Promoter(s)
Gyanesh Chaudhary, Gyanesh Chaudhary Family Trust, Vikram Capital Management Private Limited are the company's promoters of Vikram Solar.
Vikram Solar IPO Issue Objectives
- •
- Partial funding of capital expenditure for the Phase-I Project.
- •
- Funding of capital expenditure for the Phase-II Project
- •
- General Corporate Purposes
Vikram Solar IPO - Anchor Investors
Vikram Solar IPO : Anchor investors choose Rs 620.8 crore value shares.
Marquee investors such as Goldman Sachs, Prudential Hong Kong, Morgan Stanley, Pinebridge Global Funds, Societe Generale, Tata Mutual Fund, HSBC MF, Edelweiss, ICICI Prudential Life Insurance, SBI General Insurance Company, Taurus MF, and Finavenuestitutional investors such as Kotak Mahindra AMC, Franklin India, Nippon Life India, UTI AMC, Tata Mutual Fund, HSBC MF, Edelweiss, ICICI Prudential Life Insurance, SBI General Insurance Company, Taurus MF, and Finavenue Capital Trust invested in the firm.
Vikram Solar IPO - Peers Comparison
| P/B Ratio | P/E Ratio | RoNW | Revenue(in Cr.) | |
|---|---|---|---|---|
| Vikram Solar | 8.46 | 85.8 | 11.2% | 3459 |
| Waaree Energies | 8.92 | 38.0 | 27.6% | 15,461 |
| Premier Energies | 16.0 | 38.0 | 27.6% | 6682 |
| Websol Energy | 21.9 | 30.6 | 80.2% | 683 |
Vikram Solar IPO - Strengths and Risks
Vikram Solar IPO strengths and risks highlight key business factors, financial position, and market sentiment that may impact investor interest.
Strengths
Risks
Contact Information
Contact Details
Vikram Solar
+91 33 2442 7399
Biowonder, Unit No. 1102, 11th Floor, 789, Anandapur Main Road, Eastern Metropolitan Bypass, E.K.T,, Kolkata, West Bengal, 700107
Registrar Contact Details
Frequently Asked Questions
Click any question to reveal the answer
Vikram Solar IPO is a book-built IPO worth ₹2079.37 crore. The price band is ₹315–₹332 per share. The IPO opens on Aug 19, 2025 and closes on Aug 21, 2025. It will be listed on BSE and NSE. MUFG Intime India Private Limited (Link Intime) is the registrar.
The price band of Vikram Solar IPO is ₹315 to ₹332 per share.
The lot size of Vikram Solar IPO is 45 shares.
The minimum investment for Vikram Solar IPO is approximately ₹14,940 based on the upper price band .
Vikram Solar IPO opens on Aug 19, 2025 and closes on Aug 21, 2025.
The allotment date of Vikram Solar IPO is Aug 22, 2025.
Vikram Solar IPO is expected to be listed on Aug 26, 2025, on BSE and NSE .
Vikram Solar IPO listed on Aug 26, 2025. It was issued at ₹338.0(NSE) and is currently around ₹207.50 as on 14-May-2026 3:30 PM, which is approximately -37.5% versus issue price. The 52-week high is ₹407.95.
Based on listing and post-listing performance, Vikram Solar IPO delivered around -37.5% over issue price. Whether it was worth applying depends on your risk profile, allocation, and holding horizon.
To buy Vikram Solar IPO shares after listing, log in to your broker app (such as Zerodha, Angel One, Groww, Upstox, ICICI Direct), search the stock symbol, place a delivery/CNC order, and confirm quantity and price.
Vikram Solar IPO valuation snapshot: P/E 85.88, EPS ₹3.87/-, P/B 8.46, RoNW 11.26%, and market cap N/A.
To apply for Vikram Solar IPO, open the IPO Ji app or website, select the IPO, choose your demat account, enter the quantity, and submit the application.
You can check the live subscription status of Vikram Solar IPO on IPO Ji or stock exchange websites. It shows real-time demand across retail, NII, and QIB categories.
Pre-apply allows investors to submit their IPO application before the bidding period starts. The order is placed automatically when the IPO opens.
If you pre-apply for Vikram Solar IPO, your order will be placed when the IPO bidding starts, and a UPI mandate request will be generated.
You can check Vikram Solar IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Vikram Solar IPO allotment status on IPO Ji for quick and easy access.