Vikram Solar IPO – Dates, Price Band, GMP, Allotment & Review
Vikram Solar IPO has created strong buzz in the market. In this post, we break down all the crucial details: issue size, price band, legitimacy, GMP, subscription, allotment dates, and whether you should apply or not.
Table of Contents
- IPO Overview
- About the Company
- Financial Highlights
- IPO Objectives
- GMP (Grey Market Premium)
- Subscription Status
- Allotment & Listing Dates
- Should You Apply?
- FAQs
IPO Overview
| Price Band | ₹315 – ₹332 per share |
|---|---|
| Issue Size | ₹2,079.37 Cr (Fresh: ₹1,500 Cr + OFS: ₹579.37 Cr) |
| Lot Size | 45 Shares |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| IPO Dates | August 19–21, 2025 |
| Listing Date (Tentative) | August 26, 2025 |
About the Company
Vikram Solar is a leading solar photovoltaic (PV) module maker and solar EPC player in India. It operates with a capacity of 4.5 GW across facilities in Kolkata and Chennai. The company provides EPC and O&M services, backed by a strong distribution network, exports to 39 countries, and ongoing expansion plans.
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| Vikram Solar IPO |
Financial Highlights
- FY2025 Revenue: ₹3,459.53 Cr (up from ₹2,523.96 Cr in FY24)
- FY2025 PAT: ₹139.83 Cr (up from ₹79.72 Cr in FY24)
IPO Objectives
- ₹769.73 Cr for Phase-I solar cell and module facility through VSL Green Power
- ₹595.2 Cr to expand module capacity (Phase-II)
- Balance for general corporate purposes
GMP (Grey Market Premium)
- Peak GMP: ₹68 (≈20.5%) before IPO
- Latest GMP: ₹54–₹62 (≈16–18%)
Subscription Status
- Day 1: 1.52× subscribed
- Day 2: 4.56× subscribed
- Day 3 (Final): 42.44x subscribed
Allotment & Listing Details
- Allotment: August 22, 2025
- Refunds Initiated: August 25, 2025
- Shares in Demat: August 25, 2025
- Listing Date: August 26, 2025
Should You Apply?
Reasons to Apply:
- High GMP suggests potential 12–21% listing gains
- Strong subscription shows market confidence
- Leader in renewable energy space, backed by Govt push
Risks:
- Relatively high IPO valuation (P/E ~72 vs avg ~42)
- Raw material cost volatility and execution risk
If you're aiming for listing gains, retail investors are showing strong demand. Long-term investors should focus on expansion plans and leadership in solar manufacturing.
FAQs – Vikram Solar IPO
- Price band? ₹315–₹332
- IPO open/close dates? Aug 19 to Aug 21, 2025
- Lot size? 45 shares
- GMP today? ₹54–₹62 (~16–18%)
- Subscription? 6.17× overall, 4.05× retail, 17.64× NII
- Allotment date? Aug 22, 2025
- Listing date? Aug 26, 2025
- Primary objective? Capacities expansion and general corporate
Disclaimer:
This post is for informational purposes only. Please conduct your own research or consult a financial advisor before investing in any IPO.
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