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Vikram Solar Ltd.

Vikram Solar Ltd.

NSE & BSE · Mainboard IPO
Listed NSE & BSE Mainboard Live Chart
Issue Price
₹332
₹332
GMP (Grey Market)
NIL
Unofficial data only
Est. Listing Price
₹332
Based on GMP
Min. Investment
₹14,940
1 lot × 45 shares
Subscribed
1.00x
Over-subscribed
IPO Details
Open Date
19 Aug 2025
Close Date
21 Aug 2025
Allotment
22 Aug 2025
Listing Date
26 Aug 2025
Exchange
NSE & BSE
Price Band
₹332
Listing Price
See chart
Allotment Status
Price Band
₹332
Per share
Face Value
₹10 per share
 
Lot Size
45 Shares
per lot
Issue Size
6,26,31,604 shares (aggregating up to ₹2,079.37 Cr)
Total offering
Issue Type
Bookbuilding IPO
 
Min Investment
₹14,940
1 lot
Pre-IPO Holding
31,65,36,309 shares
Promoters
Post-IPO Holding
36,17,17,031 shares
Promoters
P/E (Pre)
75.16x
 
P/E (Post)
85.88x
 
EPS (Pre)
₹4.42
 
EPS (Post)
₹3.87
 
UPI Deadline
2025-08-21
Mandate
Anchor AllotmentMon, 18 Aug 2025
Basis of AllotmentFri, 22 Aug 2025
Refund InitiationMon, 25 Aug 2025
Demat CreditMon, 25 Aug 2025
Listing DayTue, 26 Aug 2025
UPI Mandate Deadline2025-08-21
Sale TypeFresh Capital-cum-Offer for Sale
Fresh Issue Shares4,51,80,722 shares (aggregating up to ₹1,500.00 Cr)
Offer for Sale1,74,50,882 shares of ₹10 (aggregating up to ₹579.37 Cr)
QIB Quota50% of Net Issue
HNI / NII Quota15% of Net Issue
Retail Quota35% of Net Issue
Check AllotmentClick here →
Subscription Rate Final
Vikram Solar Ltd. IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 21 Aug 2025.
QIB
1.00x
Over
NII/HNI
1.00x
Over
Retail
1.00x
Over
Total
1.00x
Over
Category Subscription Shares Offered % of Total Amount (₹Cr)
QIB
Over 1.00x
NII / HNI
Over 1.00x
Retail
Over 1.00x
Total 1.00x
62,631,604
100% ₹2,079.37
IPO Shares Offered
Vikram Solar Ltd. IPO total issue size: ₹2,079.37 Cr.
CategoryShares OfferedAmount (₹Cr)Size (%)
Total 62,631,604 ₹2,079.37
100.00%
* Based on upper price band ₹332 per share
Lot Size & Investment
Lot Size
45
Shares per Lot
Issue Price
₹332.00
Upper Band
Min Investment
₹14,940
1 Lot
ApplicationLotsSharesAmount
Retail (Min — 2 Lots)290₹29,880
Retail (Max — 13 Lots)13585₹194,220
S-HNI (Min — 14 Lots)14630₹209,160
B-HNI (Min — 68 Lots)683,060₹1,015,920
* Issue Price ₹332 × Lot Size 45 shares
IPO Schedule
Anchor
18 Aug 2025
✓ Done
IPO Open
19 Aug 2025
✓ Done
IPO Close
21 Aug 2025
✓ Done
Allotment
22 Aug 2025
✓ Done
Refunds
25 Aug 2025
✓ Done
Demat Credit
25 Aug 2025
✓ Done
Listing Day
26 Aug 2025
✓ Done
Vikram Solar Ltd. — Live Price LIVE
₹332.00
INR · BSE
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Issue ₹332.00 Live Price
About Vikram Solar Ltd.
Incorporated in 2005, Vikram Solar Limited is a solar photo-voltaic (“ PV”) modules manufacturer.Core Operations:Solar Photovoltaic (PV) Module Manufacturing: Specializing in the production of high-efficiency solar PV modules, Vikram Solar caters to both domestic and international markets.Engineering, Procurement, and Construction (EPC) Services: The company provides comprehensive EPC solutions for solar power projects, ensuring efficient project execution from design to commissioning.Operations and Maintenance (O&M): Vikram Solar offers O&M services to optimize the performance and longevity of solar power installations.The company's solar energy products consists of 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 being either bifacial (glass-to-glass/ glass-to-transparent back sheet) or monofacial (glass-to-white/black back sheet) modules.Manufacturing facilities located at:Falta SEZ, Kolkata, West Bengal and Oragadam, Chennai, Tamil Nadu.The company have established a pan-India presence, serving 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 customers include prominent government entities, such as National Thermal Power Corporation, Neyveli Lignite Corporation Limited and Gujarat Industries Power Company Limited, and large private independent power producers (“IPPs”), such as ACME Cleantech Solutions Pvt. Ltd.,As of March 31, 2025, we have 1,612 employees and 974 contractual employees.
Objects of the Issue
1
1 Partial funding of capital expenditure for the Phase-I Project.
2
2 Funding of capital expenditure for the Phase-II Project
3
3 General Corporate Purposes
Vikram Solar Ltd. Financials (Amount in Crore)
Revenue from Operations
₹2,091.9
31 Mar 2023
₹2,524.0
31 Mar 2024
₹3,459.5
31 Mar 2025
Profit After Tax (PAT)
₹14.5
31 Mar 2023
₹79.7
31 Mar 2024
₹139.8
31 Mar 2025
Particulars31 Mar 202531 Mar 202431 Mar 2023
Revenue from Operations 3459.53 2523.96 2091.91
EBITDA 492.01 398.58 186.18
Profit After Tax (PAT) 139.83 79.72 14.49
Net Worth 1241.99 445.42 365.20
Total Assets 2832.15 2585.50 2476.29
Reserves & Surplus 932.60 192.16 113.07
Borrowings 230.67 808.33 737.79
EBITDA Margin (%) 14.37%
PAT Margin (%) 4.08%
P/BV Ratio
8.46
RoE
16.57%
RoCE
24.49%
RoNW
11.26%
PAT Margin
4.08%
EBITDA Margin
14.37%
Debt/Equity
0.19
Issue Structure & Shareholding
Total Shares Offered6,26,31,604 (100.00%)
Net Offer to PublicN/A
Reserved for Market MakerN/A
Pre-Issue Promoter Holding31,65,36,309 shares
Post-Issue Promoter Holding36,17,17,031 shares
P/BV Ratio8.46
RoE16.57%
RoCE24.49%
Debt / Equity0.19
Script CodeN/A
Registrar & Lead Managers
Book Running Lead Managers
JM Financial Ltd.
Nuvama Wealth Management Ltd.
UBS Securities India Pvt.Ltd.
Equirus Capital Pvt.Ltd.
PhillipCapital India Pvt.Ltd.
GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.
IPO Subscription FAQs
How much Vikram Solar Ltd. IPO subscribed?

Vikram Solar Ltd. IPO is subscribed 1.00 times by Aug 21, 2025. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor CategorySubscription
Qualified Institutional (QIB)1.00x
Non Institutional (NII/HNI)1.00x
Retail Individual1.00x
Total Subscription1.00x
What is Vikram Solar Ltd. IPO retail subscription status?

The Vikram Solar Ltd. IPO retail category is subscribed 1.00 times as of 21 Aug 2025. The retail portion is oversubscribed.

How to subscribe Vikram Solar Ltd. IPO?

Subscribe via your broker app using ASBA or UPI. Opens 19 Aug 2025 and closes 21 Aug 2025. Min investment: ₹14,940 (1 lot = 45 shares). UPI mandate: 2025-08-21.

How many times Vikram Solar Ltd. IPO subscribed?

The Vikram Solar Ltd. IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Vikram Solar Ltd. IPO allotment?

Check allotment on the registrar website (MUFG Intime India Pvt.Ltd.) at https://linkintime.co.in/Initial_Offer/public-issues.html. Enter your PAN, application number or DP/Client ID. Allotment date: 22 Aug 2025. Refunds: on 25 Aug 2025.

When Vikram Solar Ltd. IPO will be listed?

The Vikram Solar Ltd. IPO listing date is 26 Aug 2025, Tuesday. Listed on: NSE & BSE. Issue price: ₹332. Estimated listing: ₹332. GMP: NIL.

When Vikram Solar Ltd. IPO close?

The Vikram Solar Ltd. IPO closes on 21 Aug 2025, Thursday. UPI mandate: 2025-08-21. Allotment: 22 Aug 2025. Listing: 26 Aug 2025.