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Vikram Solar Ltd. IPO Details – Price, Date, GMP & Analysis
Listed
Mainboard
Price Range:
Rs.332.00
Issue Size:
Rs.2,079.37 Cr
Lot Size:
45 shares
Open Date:
August 19
Vikram Solar Ltd. IPO Overview
Bidding Dates
August 19 - August 21
Min Investment
₹14,940
Price Range
₹332.00
Issue Size
₹2,079.37 Cr
IPO DRHP Doc
Company Overview
Vikram Solar Limited, incorporated in 2005, is a manufacturer of solar photovoltaic (PV) modules. The company produces high-efficiency solar PV modules, including PERC, TOPCon, and HJT modules, available in bifacial and monofacial designs. It has a pan-India presence, serving 23 states and three union territories through a network of 41 authorized distributors, 64 dealers, and 67 system integrators. Its domestic customers include major government entities and large private independent power producers. As of March 31, 2024, the company employs 1,513 individuals and has 728 contractual employees.
IPO Timeline
Opens
Aug 19
Closes
Aug 21
Allotment
Aug 22
Refunds
Aug 25
Shares Credit
Aug 25
Listing
Aug 26
Opens
Aug 19
Closes
Aug 21
Allotment
Aug 22
Refunds
Aug 25
Shares Credit
Aug 25
Listing
Aug 26
Latest Subscription Data
| Category | Subscription | Status |
|---|---|---|
| QIB (Qualified Institutional Buyers) | 145.10x | Oversubscribed |
| NII (Non-Institutional Investors/HNI) | 52.87x | Oversubscribed |
| RII (Retail Individual Investors) | 7.98x | Oversubscribed |
| Total Subscription | 56.42x | Oversubscribed |
Last updated: Aug 21, 2025, 05:06 PM
Current GMP:
Rs.35
Est. Listing:
Rs.367
Est. Gain:
+10.5%
Star Rating:
★★★★★(3/5)
Financial Information
Financial Data Table
Detailed breakdown of financial metrics across years
| Financial Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| 492.01 | ₹398.58 Cr | ₹186.18 Cr | - |
| Assets | ₹2,832.15 Cr | ₹2,585.5 Cr | ₹2,476.29 Cr |
| Net Worth | ₹1,241.99 Cr | ₹445.42 Cr | ₹365.2 Cr |
| Profit After Tax | ₹139.83 Cr | ₹79.72 Cr | ₹14.49 Cr |
| Reserves and Surplus | ₹932.6 Cr | ₹192.16 Cr | ₹113.07 Cr |
| Total Borrowing | ₹230.67 Cr | ₹808.33 Cr | ₹737.79 Cr |
| Total Income | ₹3,459.53 Cr | ₹2,523.96 Cr | ₹2,091.91 Cr |
Financial data is visualized in the chart above
Strengths & Risks Analysis
Key Strengths
Competitive advantages and positive aspects
- One of India’s largest solar PV module manufacturers (3.50 GW capacity)
- Strong R&D and quality control systems
- High technical expertise in solar PV module manufacturing
- Established presence in domestic and international markets
- Strong brand recognition and loyal customer base
- Deep understanding of customer needs and focus on product quality
IPO Details
Vikram Solar IPO Details
| ₹10 per share | |
| ₹332 per share | |
| 1,74,50,882 shares of ₹10 (aggregating up to ₹579.37 Cr) | |
| 31,65,36,309 shares | |
| 36,17,17,031 shares | |
| 4,51,80,722 shares (aggregating up to ₹1,500.00 Cr) | |
| 45 Shares | |
| 6,26,31,604 shares (aggregating up to ₹2,079.37 Cr) | |
| August 26, 2025 | |
| BSE, NSE | |
| IPO Date | August 19, 2025 to August 21, 2025 |
| Issue Type | Bookbuilding IPO |
| Sale Type | Fresh Capital-cum-Offer for Sale |
Vikram Solar IPO Reservation
Share Reservation Distribution
QIB
31,165,200 shares (49.76%)
Retail
21,815,640 shares (34.83%)
Anchor Investors
18,699,120 shares (29.86%)
QIB (Ex-Anchor)
12,466,080 shares (19.9%)
HNI (NII)
9,349,560 shares (14.93%)
bNII (>₹10L)
6,233,040 shares (9.95%)
sNII (<₹10L)
3,116,520 shares (4.98%)
Employee
301,205 shares (0.48%)
Vikram Solar IPO Promoter Holding
| Share Holding Post Issue | 63.11% |
| Share Holding Pre Issue | 77.64% |
Vikram Solar IPO Listing Details
| ₹332 per share |
| 544488 |
| August 26, 2025 |
| B |
| EQ |
| INE078V01014 |
| VIKRAMSOLR |
Key Dates
Open Date:August 19
Close Date:August 21
Listing Date:August 26
