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Vikram Solar Ltd. IPO
NSE & BSE Bookbuilding IPO Fresh Capital-cum-Offer for Sale Closed Live Chart
GMP +₹0 +0% Est. Listing ₹332
Issue Price
₹332
Face ₹10
GMP
+₹0
+0% premium
Est. Listing
₹332
GMP based
Lot Size
45
shares / lot
Min Amount
₹14,940
1 lot · 45 shares
Live Price
tap to chart
Allotment
Important Dates
6/6 completed
Open
Close
Allotment
Refund
Demat
Listing
Done
Open Date
19 Aug 2025
Tue Completed
Done
Close Date
21 Aug 2025
Thu Completed
Done
Allotment
22 Aug 2025
Fri Completed
Done
Refund
25 Aug 2025
Mon Completed
Done
Demat Credit
25 Aug 2025
Mon Completed
Done
Listing Date
26 Aug 2025
Tue Completed
UPI Deadline: 21 Aug 2025
Issue Details
Pricing & Size
Issue Price
₹332 Face ₹10
Lot Size
45 shares
Min Investment
₹14,940
Total Issue Size
6,26,31,604 shares (aggregating up to ₹2,079.37 Cr)
IPO Information
Issue Type
Bookbuilding IPO
Sale Type
Fresh Capital-cum-Offer for Sale
Listing Exchange
NSE & BSE
Script / Ticker
-
Allocation Breakdown
Market Maker
-
QIB Portion
3,11,65,200 (49.76%)
NII / HNI
93,49,560 (14.93%)
Retail
2,18,15,640 (34.83%)
Employee
3,01,204 (0.48%)
Net Offer to Public
-
Shareholding Pattern
Pre-Issue Shareholding
31,65,36,309 shares
Post-Issue Shareholding
36,17,17,031 shares
Application Size
CategoryMin LotsSharesAmount
Retail (sNII) 1 45 ₹14,940
HNI / NII 14 630 ₹2,09,160
bHNI / bNII 67 3,015 ₹10,00,980
Objects of Issue
3 objectives
1
1 Partial funding of capital expenditure for the Phase-I Project.
769.73 Cr
2
2 Funding of capital expenditure for the Phase-II Project
595.21 Cr
3
3 General Corporate Purposes
49.55 Cr
Lead Managers & Market Maker
Book Running Lead Managers
JM Financial Ltd.
Nuvama Wealth Management Ltd.
UBS Securities India Pvt.Ltd.
Equirus Capital Pvt.Ltd.
PhillipCapital India Pvt.Ltd.
IPO Timeline
Open
19 Aug
✓ Done
Close
21 Aug
✓ Done
Allotment
22 Aug
✓ Done
Listing
26 Aug
✓ Done
Registrar Details
MUFG Intime India Pvt.Ltd.
SEBI Registered Registrar & Transfer Agent
Phone
+91-22-4918 6270
Email
vikramsolar.ipo@linkintime.co.in
Company Contact
Email
secretarial@vikramsolar.com
Phone
+91 33 2442 7399
Address
Biowonder, Unit No. 1102, 11th Floor, 789, Anandapur Main Road, Eastern Metropolitan Bypass, E.K.T, Kolkata, West Bengal, 700107
Grey Market Premium
LIVE
Current GMP
+₹0
+0% vs Issue Price
Issue Price
₹332
Est. Listing
₹332
Lot Size
45 shares
P&L / Lot
+₹0
GMP is unofficial grey market data. Does not guarantee listing price or returns.
GMP Return Calculator
Estimated Listing
GMP %
Investment (1 Lot)
Total Investment
Expected P&L
ROI
Vikram Solar Ltd. LIVE
INR ·
vs Issue
Open
High
Low
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P/E
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| Price
Market Reference
IPO Issue Price
₹332
GMP
+₹0 (+0%)
GMP Est. Listing
₹332
Previous Close
Exchange
Data from Yahoo Finance. May be delayed 15–20 min. GMP is unofficial. Not investment advice.
Category-wise Subscription
Category Sub (×) Offered Bid For Amt (Cr)*
QIB 3,11,65,200 (49.76%) ₹103,468.47 Cr
NII / HNI (Total) 93,49,560 (14.93%) ₹31,040.54 Cr
Retail Investors 2,18,15,640 (34.83%) ₹72,427.93 Cr
Employee 3,01,204 (0.48%) ₹100.00 Cr
Total ** 6,26,31,604 (100.00%) ₹2,079,369.26 Cr
* Based on ₹332.00 (upper price band)
NII / HNI Breakdown
Shares Reserved
QIB
3,11,65,200 (49.76%)
NII
93,49,560 (14.93%)
Retail
2,18,15,640 (34.83%)
* Shares Offered and Total Amount are indicative. ** Excluding Market Maker portion. Data sourced from exchange bidding platform.
Financial Summary
Amount in Crore
Metric31 Mar 202531 Mar 202431 Mar 2023
Revenue3459.532523.962091.91
PAT139.8379.7214.49
EBITDA492.01398.58186.18
Net Worth1241.99445.42365.20
Total Assets2832.152585.502476.29
Reserves932.60192.16113.07
Borrowings230.67808.33737.79
Key Financial Ratios
16.57%
ROE
Return on Equity
24.49%
ROCE
Return on Capital Employed
11.26%
RONW
Return on Net Worth
4.08%
PAT Margin
PAT / Revenue
14.37%
EBITDA Mgn
EBITDA / Revenue
0.19
D/E Ratio
Debt to Equity
8.46
P/BV
Price to Book Value
4.42
Pre EPS
EPS Pre-Issue
3.87
Post EPS
EPS Post-Issue
75.16
Pre P/E
P/E Pre-Issue
85.88
Post P/E
P/E Post-Issue
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.

Frequently Asked Questions
What is the issue price of Vikram Solar Ltd. IPO?
The issue price of Vikram Solar Ltd. IPO is ₹332 per share, face value ₹10.
What is the lot size?
Minimum lot size is 45 shares, requiring ₹14,940.
What are the IPO dates?
Opens 19 Aug 2025, closes 21 Aug 2025.
When is the listing date?
Tentative listing: 26 Aug 2025 on NSE & BSE.
What is the current GMP?
Current GMP is +₹0, estimated listing ₹332 (+0%). GMP is unofficial.
How to apply?
Apply via ASBA through your bank, or via UPI through any broker app.

Check Allotment Status

Vikram Solar Ltd. IPO · Expected 22 Aug 2025

Check on Registrar
Post-IPO Timeline
Allotment Date
22 Aug 2025
Refund Initiation
25 Aug 2025
Demat Credit
25 Aug 2025
Listing Date
26 Aug 2025
Live Price LIVE
Quick Facts
Closed
GMP Signal
Bullish
+₹0
+0%
Issue Price
₹332
Face ₹10
Lot Size
45
shares / lot
Min Amount
₹14,940
1 lot
Est. Listing
₹332
GMP +₹0
Key Dates
Open
19 Aug Done
Close
21 Aug Done
Listing
26 Aug Done
Registrar
MUFG Intime India Pvt.Ltd.
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