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VIKRAMSOLR · NSE,BSE · Other Electrical Equipment
Vikram Solar IPO listed on 26 Aug 2025 on NSE,BSE at ₹338.00, a gain of 1.81% over the issue price of ₹332.00. The IPO was subscribed 54.63x overall.
Vikram Solar IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 19 Aug 2025 |
| IPO Close Date | 21 Aug 2025 |
| Basis of Allotment | 22 Aug 2025 |
| Initiation of Refunds | 25 Aug 2025 |
| Credit of Shares to Demat | 25 Aug 2025 |
| Listing Date | 26 Aug 2025 |
Listing day gain
+1.81%
Listed at ₹338 (issue ₹332)
Issue
₹332
Listing
₹338
Current
₹356.4
+7.35% vs issue
Day range
₹333.65 – ₹381.65
Issue Size
62,631,604 shares
(aggregating up to ₹2,079.37 Cr)
Issue Price
₹315 – ₹332
Face Value
₹10/share
Market Lot
45 shares
Retail Min Investment
₹14,940
Listing At
NSE,BSE
Sale Type
both
Fresh Issue
45,180,722 shares
(aggregating up to ₹1,500 Cr)
Offer for Sale
17,450,882 shares
(aggregating up to ₹579.37 Cr)
Issue Type
book building
Open Date
19 Aug
Close Date
21 Aug
Allotment
22 Aug
Listing
26 Aug
Last updated: 1 year ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 26 Aug 2025 Latest | ₹332 | ₹35 | ₹367 | ₹35 |
10.54%
|
12:00 AM |
| 25 Aug 2025 | ₹332 | ₹37 | ₹369 | ₹37 |
11.14%
|
12:00 AM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 26 Aug 2025
| Category | Subscribed (x) |
|---|---|
| QIB | 142.79x |
| NII | 50.9x |
| bNII (bids above ₹10L) | 57.35x |
| sNII (bids below ₹10L) | 38x |
| Retail Investors | 7.65x |
| Employees | 4.84x |
| Total | 54.63x |
Showing the latest subscription snapshot.
View full subscription historyGyanesh Chaudhary, Gyanesh Chaudhary Family Trust and Vikram Capital Management Pvt.Ltd.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 45 | ₹14,940 |
| Retail (Max) | 13 | 585 | ₹194,220 |
| S-HNI (Min) | 14 | 630 | ₹209,160 |
| S-HNI (Max) | 66 | 2,970 | ₹986,040 |
| B-HNI (Min) | 67 | 3,015 | ₹1,000,980 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only employee | 1 | No |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 31,165,200 (49.76%) |
|
•
Anchor Investor Shares Offered
|
18,699,120 (29.86%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
12,466,080 (19.90%) |
| NII (HNI) Shares Offered | 9,349,560 (14.93%) |
|
•
bNII > ₹10L
|
6,233,040 (9.95%) |
|
•
sNII < ₹10L
|
3,116,520 (4.98%) |
| Retail Shares Offered | 21,815,640 (34.83%) |
| Employee | 301,204 (0.48%) |
| Total Shares Offered | 62,631,604 (100.00%) |
Vikram Solar Limited was incorporated in 2005 and is headquartered in Kolkata, West Bengal. It works in the renewable energy sector as a solar photovoltaic (PV) module manufacturer with EPC capabilities.
The company manufactures high-efficiency solar PV modules for domestic and international markets and provides engineering, procurement and construction (EPC) services for solar power projects. As of its DRHP filing, it held an order book of about 8,214.63 MW, exceeding its total rated manufacturing capacity for FY24, with notable contracts including a 397.70 MW project from NTPC Renewable Energy and a 1 GW order from a JSW Energy subsidiary in CY2024. It has over 15 years of industry experience as of March 2024.
Revenue grew 21.11% to Rs 2,510.99 crore in FY24, with profit after tax rising 450.10% over the same period, as per the DRHP. The IPO was a mainboard book-built issue of about Rs 2,079.37 crore on the NSE and BSE, comprising a fresh issue of about 4.52 crore equity shares aggregating to Rs 1,500 crore and an offer for sale of about 1.75 crore equity shares aggregating to Rs 579.37 crore by the promoter group, priced at Rs 315-332 per share, and it listed on 26 August 2025. Net proceeds from the fresh issue were proposed to be used for objects detailed in the RHP, including capacity expansion and general corporate purposes.
Standalone · ₹ in Crores
| Particulars | FY Mar 2023 | FY Mar 2024 | FY Mar 2025 |
|---|---|---|---|
| Total Revenue | 2,091.91 | 2,523.96 | 3,459.53 |
| Profit After Tax (PAT) | 14.49 | 79.72 | 139.83 |
| EBITDA | 186.18 | 398.58 | 492.01 |
| Total Assets | 2,476.29 | 2,585.5 | 2,832.15 |
| Net Worth | 365.2 | 445.42 | 1,241.99 |
| Reserves & Surplus | 113.07 | 192.16 | 932.6 |
| Total Borrowing | 737.79 | 808.33 | 230.67 |
Revenue & Profit Trend
Key ratios per fiscal period
| Particulars | Mar 2025 |
|---|---|
| RoE Return on Equity Shows how much profit the company makes on the money shareholders have put in. 15% to 20% is healthy in most industries. | 16.57% |
| RoCE Return on Capital Employed Shows the profit earned on all the money used, shareholder funds plus loans. Matters most for factory and infrastructure heavy companies. | 24.49% |
| RoNW Return on Net Worth Shows the profit earned on the company's own net worth. Steady or rising over 3 years is a good sign. | 11.26% |
| PAT Margin Profit After Tax Margin Out of every ₹100 of sales, how much the company keeps after paying all costs, loan interest and tax. | 4.08% |
| EBITDA Margin Earnings Before Interest, Tax, Depreciation and Amortisation Margin Profit from the main business as a share of sales, before loan interest and tax. Compare it with other companies in the same industry. | 14.37% |
| Debt / Equity Debt to Equity How much the company has borrowed against what shareholders own. Above 1x means the loans are bigger than shareholder funds. | 0.19x |
| P/BV Price to Book Value Tells you if the IPO price is above what the company actually owns. 1x to 3x is usually seen as reasonable. | 8.46x |
Issue-level · at the upper price band
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS Earnings Per Share Profit the company earns on each share. Post-IPO EPS is usually lower because the issue adds new shares. | ₹4.42 | ₹3.87 |
| P/E Price to Earnings Tells you if the IPO price is fair for what the company earns. Compare it with listed companies in the same sector. | 75.16x | 85.88x |
| Market Cap Market Capitalisation What the whole company is valued at, at the upper price band. Post-IPO counts the new shares the issue creates. | ₹10,509 Cr | ₹12,892 Cr |
The basis of allotment for Vikram Solar IPO was finalised on 22 Aug 2025. You can check your allotment status using your PAN number or application number on the MUFG Intime India Pvt.Ltd portal or BSE.
The Vikram Solar IPO is expected to open in Aug 2025, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Vikram Solar IPO is ₹315.00 - ₹332.00 per share.
As per market sources, Vikram Solar IPO GMP is currently ₹35.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Vikram Solar IPO stands at 54.63x overall.
The listing date for Vikram Solar IPO is 26 Aug 2025.
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