
Vikram Solar
Mainboard₹14,940 / 45 Shares
IPO Live Subscription Details (times)
Bids below ₹10L: 38.00x
NII Total: 50.90
IPO Details
Vikram Solar IPO is priced between ₹315-332 per equity share, with a face value of ₹10 per share. The company's equity shares will be listed on the Mainboard, and MUFG Intime India Private Limited (Link Intime) is managing the issue as the registrar.
The IPO bidding period opened on 19 Aug, 2025, and closed on 21 Aug, 2025. The allotment results will be announced on 22 Aug, 2025, with a tentative listing date set for 26 Aug, 2025.
The total issue comprises Total 2,079.37 Cr :#Fresh Issue : 4,51,80,722 shares, amounting to ₹1,500.00 Cr.
Vikram Solar IPO Highlights
IPO Date | Listing Date | Face Value | Price Band | Lot Size | Fresh Issue | Offer for Sale | Listing At |
---|---|---|---|---|---|---|---|
Aug 19, 2025 - Aug 21, 2025 | 26 Aug, 2025 | ₹10 Per Equity Share | ₹315-332 per equity share | 45 Shares | 4,51,80,722 Shares | 1,74,50,882 shares of ₹10 | BSE, NSE |
Vikram Solar IPO Timeline
Issue Price
₹315-332 per equity shareFace Value
₹10 Per Equity ShareListing at Group
BSE, NSERegistrar
MUFG Intime India Private Limited (Link Intime)Market Lot
Retail: 45 Shares (₹14,940/-)S-HNI: 630 Shares (₹2,09,160/-)
B-HNI: 3,015 Shares (₹10,00,980/-)
Lead Manager
Jm Financial LimitedNuvama Wealth Management LimitedUbs Securities India Private LimitedEquirus Capital Private LimitedPhillipCapital India Private LimitedIssue 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)
Retail Portion
35% (Number of Retail Applications: 4,84,792 Approx),(Number of S-HNI Applications : 4,947 Approx),(Number of B-HNI Applications : 9,894 Approx)Subscription
54.62 timesVikram Solar IPO Financial Information
Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
---|---|---|---|---|---|---|
31 Mar 25 | 2832.15 | 3459.53 | 139.83 | 1241.99 | 932.60 | 230.67 |
31 Mar 24 | 2585.5 | 2523.96 | 79.72 | 445.42 | 192.16 | 808.33 |
31 Mar 23 | 2476.29 | 2091.91 | 14.49 | 365.20 | 113.07 | 737.79 |
All values are in ₹ Cr.
Vikram Solar IPO Valuations
EPS PRE IPO ₹4.42/- | EPS POST IPO ₹3.87/- | PE PRE IPO 75.16 | PE POST IPO 85.88 | ROE 16.57% |
ROCE 24.49% | DEBT EQUITY 0.19 | RONW 11.26% | PAT MARGIN 4.08% | PRICE TO BOOK VALUE 8.46 |
About Company
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 IPO Subscription Details
As on | QIB | NII bNII sNII | 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 | 3.84 3.75 x 4.02 x | 1.37 x | 1.52 x |
Day 2 - 20-08-25 05:00 PM | 0.11 x | 13.01 12.85 x 13.34 x | 3.47 x | 4.57 x |
Day 3 - 21-08-25 05:00 PM | 142.79 x | 50.90 57.35 x 37.99 x | 7.64 x | 54.62 x |
Retail:6.6x
BHNI:11.5x
SHNI:38.0x times
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
Biowonder, Unit No. 1102, 11th Floor, 789, Anandapur Main Road, Eastern Metropolitan Bypass, E.K.T,, Kolkata, West Bengal, 700107MUFG Intime India Private Limited (Link Intime)
Phone: +91-22-4918 6270
Email: vikramsolar.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html