Last updated on August 19, 2025
Vikram Solar IPO Details: Vikram Solar’s IPO is scheduled to open on August 19, 2025, and close on August 21, 2025. The allotment is expected to be finalized by August 22, 2025 and the shares are likely to be listed on the stock exchanges on August 26, 2025. The issue comprises a fresh issue of ₹1,500 crore and an offer-for-sale by promoters of approximately 17.45 million shares (exact amount to be determined based on the final price) with face value of ₹10 each. The retail quota for this IPO is 35%, QIB is 50%, and HNI is 15%.
Objects of the Issue:
The fresh issue funds will be used as follows:
₹793.36 crore (approx. US$95 million) will fund the creation of a 3,000 MW solar cell and module manufacturing facility in Tamil Nadu via its subsidiary, VSL Green Power Pvt. Ltd.
₹602.95 crore will be used to expand existing solar module manufacturing capacity.
Remaining funds will support general corporate purposes
Vikram Solar IPO Date & Price Band Details
| IPO Open: | 19- 21 August, 2025 |
| IPO Size: | Aprox ₹2,079.37 Crores |
| Fresh Issue: | Aprox ₹ 1,500 Carores |
| Offer for Sale: | Aprox ₹ 17,450,882 Carores |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹ 315 to 332 Per Share |
| IPO Listing Date: | BSE & NSE |
| IPO Listing On: | BSE & NSE |
| IPO Retail Quota: | Not more than 35% |
| IPO NII Quota: | Not more than15% |
| IPO QIB Quota: | Not more than 50% |
Vikram Solar IPO Allotment & Listing Dates
| IPO Open Date: | August 19, 2025 |
| IPO Close Date: | August 21, 2025 |
| IPO Allotment Date: | August 22, 2025 |
| Refunds Date: | August 25, 2025 |
| Credit to Demat Account: | August 25, 2025 |
| IPO Listing Date: | August 26, 2025 |
Vikram Solar IPO Market Lot
The Vikram Solar IPO minimum market lot is 45 shares with ₹14,940 application amount. The retail investors can apply up to 13 lots with 585 shares or ₹1,94,220 amount.
| Application | Lot Size | Share | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 45 | ₹14,940 |
| Retail Maximum | 13 | 585 | ₹1,94,220 |
| S-HNI Minimum | 14 | 630 | ₹2,09,160 |
| B-HNI Minimum | 67 | 3,015 | ₹10,00,980 |
Brokerage Firm Review on Vikram Solar IPO
| Brokerage | Recommendation | Key Reasoning/Notes |
|---|---|---|
| BP Wealth | Subscribe | Endorses IPO for growth, sector tailwinds, and strong expansion plans. |
| SBI Securities | Subscribe | Picks Vikram Solar as one of the top IPOs, expects margin improvement with ramp-up. |
| Anand Rathi | Subscribe | Positive on sector opportunity and company fundamentals. |
| Arihant Capital | Subscribe (long term) | Recommends for long-term, based on diversified order book and visibility. |
| Canara Bank Securities | Subscribe | Supports for sectoral growth and diversification. |
| Jainam Broking | Subscribe (long term) | Favors long-term investors given expansion and sector outlook. |
| Lakshmishree Investment | Subscribe (long term) | Endorses growth momentum, long term sector potential. |
| Marwadi Financial | Subscribe | Views IPO as reasonably valued with good prospects. |
| Reliance Securities | Subscribe | Positive on PLI scheme tailwind, technology, and policy support. |
| Elite Wealth | Apply (listing gain only) | Recommends mainly for listing gains due to valuation concerns. |
| Samco Securities | Subscribe (listing gain) | Favors listing gains but cautions on high valuation for long-term hold. |
| Hem Securities | Subscribe (listing gain) | Similar short-term rationale. |
| Choice Broking | Subscribe (long term) | Endorses as long term portfolio addition. |
| Ventura Securities | Subscribe | Recommends for growth, capex, and policy tailwinds. |
| GEPL Capital | Avoid | Cites high valuation and customer concentration risks. |
| SMC Global | Neutral (2.5/5 rating) | Neither explicit subscribe/avoid; notes sector positives plus valuation caution |
You can check IPO subscription status and IPO allotment status on their respective pages.
Vikram Solar Company Financial Report
| Year | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹ 1,743.05 | ₹ 1,822.49 | (₹ 62.94) | ₹ 2,237.23 |
| 2023 | ₹ 2,091.91 | ₹ 2,073.04 | ₹ 14.49 | ₹ 2,476.29 |
| 2024 | ₹ 2,523.96 | ₹ 2,405.04 | ₹ 79.72 | ₹ 2,585.50 |
Vikram Solar IPO Valuation – FY2021
Check Vikram Solar IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 19.67% |
| ROCE: | 20.76% |
| EBITDA Margin: | 15.87% |
| PAT Margin: | 3.17% |
| Debt to equity ratio: | 1.81 |
| Earning Per share (EPS): | ₹3.08 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on New Worth (RoNW): | 17.9% |
| Net Asset Value (NAV): | ₹ 17.21 |
Vikram Solar Company Promoters
The promoters of Vikram Solar are:
Mr. Gyanesh Chaudhary
Mrs. Neha Chaudhary
Mrs. Sushma Chaudhary
Vikram Solar Peer Group Companies
| Company Name | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Premier Energies Limited | 6.93 | 191.48 | 35.06 | 15.63 | 3,171,31 Cr. |
| Websol Energy System Limited | (29.99) | NA | (112.29) | 26.70 | 26.81 Cr. |
Vikram Solar IPO Registrar
Link India Private Limited
Phone: + 91 22 4918 6200
E-mail: vikramsolar.ipo@linkintime.co.in
Website: https://www.linkintime.co.in/Intial_Offer/public-issues.html
Vikram Solar IPO Allotment Status Check
Check Vikram Solar IPO allotment status on Linkintime website allotment URL. Click Here
Vikram Solar Company Address
Vikram Solar Limited
Biowonder, Unit No. 1102,
11th flore, 789, Anandapur Main Road,
Eastern Metropolitan Bypass, E.K.T,
Kolkata – 700107, West Bengal,
India
Phone: +91 33 2442 73999/ + 91 33 2442 7299
Email: secretarial@vikramsolar.com
Website: www.vikramsolar.com
Vikram Solar IPO Form
How to apply for the Vikram Solar IPO? You can apply for Vikram SolarIPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the Vikram Solar IPO in the Invest section. The other option is you can apply for Vikram Solar IPO via IPO forms downloaded via NSE and BSE. Check out the Vikram Solar forms – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.
Vikram Solar IPO FAQs
What is Vikram Solar IPO?
Vikram Solar’s IPO is scheduled to open on August 19, 2025, and close on August 21, 2025. The allotment is expected to be finalized by August 22, 2025 and the shares are likely to be listed on the stock exchanges on August 26, 2025. The issue comprises a fresh issue of ₹1,500 crore and an offer-for-sale by promoters of approximately 17.45 million shares (exact amount to be determined based on the final price) with face value of ₹10 each.
When Vikram Solar IPO will open?
Vikram Solar’s IPO is scheduled to open on August 19, 2025 for QIB, NII, and Retail Investors.
What is Vikram Solar IPO investor portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is Vikram Solar IPO Size?
The comprises a fresh issue of ₹1,500 crore and an offer-for-sale by promoters of approximately 17.45 million shares (exact amount to be determined based on the final price)
What is Vikram Solar IPO Price Band?
The Price Band for Vikram Solar IPO is ₹[.] to ₹[.].
What is Vikram Solar IPO Minimum and Maximum Lot Size for Retail Investor?
The minimum bid is [.] Shares with ₹[.] amount while the maximum bid is [.] shares with ₹[.] for retail investors.
What is Vikram Solar IPO Allotment Date in Demat Account?
Vikram Solar IPO allotment date is August 22, 2025.
What is the Vikram Solar IPO Listing Date?
Vikram Solar IPO listing date is August 26, 2025. The IPO is to list on the BSE and the NSE.