Vikram Solar IPO GMP & Review: Apply or Avoid? 

Vikram Solar IPO is open for bidding from 19th August 2025 to 21st August 2025. It is a bookbuilding issue. comprising a fresh issue of  ₹1,500 crore shares and an offer for sale of 1.75 crore shares. The issue will be listed on BSE and NSE on its tentative listing date, 26th August 2025. 

Vikram Solar IPO Details 

The Vikram Solar IPO date is fixed between 19th August 2025 and 21st August 2025. The face value of Vikram Solar IPO shares stands at ₹10 per share, and the IPO price band is set between ₹315 and ₹332 per share.

MUFG Intime India Private Limited is the registrar of the Vikram Solar IPO and is responsible for managing the allotment process and initiating refunds. Check out the latest IPO details in the table below. 

Vikram Solar IPO Share Reservation

Vikram Solar IPO is a bookbuilding IPO, comprising a fresh issue of ₹2,079.37 crore shares. Vikram Solar shares will be listed on the BSE and NSE. Furthermore, SEBI has specified the share reservation criteria for different investor categories. 

Vikram Solar IPO GMP Grey Market Premium

GMP is the gap between the price band of the issue and the price at which company shares are currently trading in the grey market. Do you want to get live updates on the Vikram Solar IPO? If yes, then you’ve reached the right spot. Check the table below to learn about the GMP trends.

As of 18th August 2025, Vikram Solar IPO GMP stands at ₹61 per share, which means the share will likely show a listing at ₹393 on its tentative listing date, 26th August 2025.

GMP data is subject to change based on market trends and sentiments. You should check the live GMP status before applying for the Vikram Solar GMP. Stay informed with Univest to know about real-time insights on IPOs and their GMP trends. 

Vikram Solar IPO GMP Review

Check out the detailed Vikram Solar GMP IPO review for a thorough understanding of its potential to report listing gains on 26th August 2025. The Vikram Solar IPO review below will help you invest effectively to avoid significant losses. Explore more to make informed investment decisions on this IPO. 

Financial Health

Assess a company’s financial performance to know about its ability to sustain a competitive edge. Thus, it is essential to understand the growth margins and declines of the business’s financials before applying for the Vikram Solar IPO.

Vikram Solar Limited’s revenue increased by 37% from ₹2,523.96 crores in March 2024 to ₹3,459.53 crores in March 2025. Moreover, the company’s PAT increased by 75% from ₹79.72 crores to ₹139.83 crores.

Vikram Solar Limited’s IPO has shown consistent revenue growth, indicating that the company is financially stable. Moreover, the brokers, investors, and RAs have a positive outlook for the Vikram Solar IPO for its tentative listing day, 26th August 2025.  

Technical Analysis

A number of technical indicators are available to assess a company’s potential to deliver returns. Use the parameters mentioned below to analyse the technical aspects of the Vikram Solar IPO.

The P/E ratio of Vikram Solar Limited’s share is 75.16, and its Earnings Per Share (EPS) stands at 4.42. Thus, the Vikram Solar Limited IPO can potentially deliver gains on its tentative listing date, 26th August 2025. 

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Vikram Solar Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics. 

Vikram Solar IPO Peer Comparison

Vikram Solar IPO Subscription Status

The Vikram Solar IPO is to be opened for bidding on 19th August 2025. The subscription status for this IPO is yet to be announced. Stay informed on this passage to check the live Vikram Solar IPO subscription status. 

About Vikram Solar Limited

Vikram Solar Limited started its operations in 2005 and has a headquarters in Kolkata, India. It is an Indian leading global energy solutions company, with over 15 years of expertise in the industry. The company is recognized all over the world, serving 23 states and three union territories. Through their strong distribution network of 41 authorized distributors,64 dealers, and 67 system integrators. Vikram Solar Limited has created a unique position in the market as a trusted leader in the Indian renewable energy transition. The company has operational excellence by setting up manufacturing units in West Bengal and Tamil Nadu. Vikram Solar Limited has raised funds through its IPO proceeds for the expansion of business, to meet corporate needs, and to repay debt.

• Strong brand reputation
• Customer loyalty and retention
• High focus on the quality of the product
• Huge investment in innovation and R&D
• Professional with strong domain expertise

Vikram Solar Limited Financials

The company’s financial analysis is essential before applying for the Vikram Solar  IPO. Look at the table to learn about Vikram Solar Limited’s financials. 

Explanation

Vikram Solar Limited’s revenue increased by 37% from ₹2,523.96 crores in March 2024 to ₹3,459.53 crores in March 2025. Moreover, the company’s PAT increased by 75% from ₹79.72 crores to ₹139.83 crores.

Vikram Solar IPO Bidding Requirements

Investors can bid for a minimum of 45 shares in multiples thereof. The following table represents the minimum and maximum investments by individual investors (retail) and HNI in terms of shares and amount.

Vikram Solar IPO has reserved lot sizes to be applied by different investor categories. Look at the table below to know about the requirements to be fulfilled for applying for this IPO.

Use the lot size calculator to find how many shares you should apply for!

Vikram Solar IPO Promoter Holding

Have a look at the table below to check the holdings of Vikram Solar Limited’s promoters: 

Gyanesh Chaudhary, Gyanesh Chaudhary Family Trust, and Vikram Capital Management Private Limited

Note: The value will be calculated using Equity Dilution = Share Holding Pre-Issue –  Share Holding Post-Issue.

Aim of the Vikram Solar IPO

The primary aim of the Vikram Solar IPO is to raise ₹2,079.37 crores. On the other hand, Vikram Solar has decided to utilise these funds in different ways. Explore some of the secondary objectives for the Vikram Solar IPO.

• Partial funding of capital expenditure for the phase 1 project.
• To fund capital expenditure for the phase II project.
• To meet general corporate requirements.

Should I Invest in the Vikram Solar IPO?

VSL is one of India’s largest solar photovoltaic module manufacturers in terms of operational capacities. The company marked growth in its top and bottom lines for the reported periods. Boosted bottom lines for FY24 onwards raise eyebrows. Based on its recent financial data with super profits the IPO appears exorbitantly priced. Rising competition and recent developments on the US Tariff issue have a bearing on this company’s future. Only well-informed/cash surplus investors may park moderate funds for the long term; others may stay away. {{By Dilio Davda, Chief Executive at Chittorgrah}

Explore the pros and cons of Vikram Solar to know whether you should apply or avoid the issue. These pros and cons might help you know about the IPO’s efficiency in delivering profits in the coming decades. 

    Pros of Vikram Solar IPO

• It is one of the leading solar module manufacturers in India with high efficiency.
• It is recognized as a leading brand with a strong focus on quality control and innovation, and customer satisfaction.
• The has a strong presence in India abroad for its solar energy products.
• Solar energy products are growing rapidly across the indian market
• High potential for expanding business in international markets and diversifying the product portfolio.

  Cons of Vikram Solar IPO

• The company is heavily reliant on imports of raw materials, which can cause disruptions and may face challenges in operational efficiency, financials.
• High-intense competition from established solar modification companies.
• The revenue of the company is restricted to a few clients. 

How to Apply for the Vikram Solar IPO?

Check the steps mentioned below to apply for Vikram Solar Limited.

• Step 1: Conduct thorough research on the Vikram Solar IPO GMP, subscription status, issue size, lot size, and other details. 
• Step 2: Open a demat account on Univest to learn about real-time insights on GMP and subscription status. You can also use your previous demat account by navigating to the IPO section. 
• Step 3: Make a bid for one lot of 45 shares worth ₹14,940.
• Step 4: You will receive a mandate request after making a bid. Approve the request to proceed further.    

Note: You can apply for the Vikram Solar IPO from more than one demat account to increase your allotment chances. 

How to Check Vikram Solar IPO Allotment Status?

You can check whether the Vikram Solar IPO allotment is done in different ways. These include NSE and the registrar portal. Look at the steps mentioned below to check your allotment status online.

Check On NSE

• Visit the NSE Official Website.
• Navigate to the IPO Allotment Section. 
• Select Equity as the issue type. 
• Choose the Vikram Solar IPO.  
• Choose whether to proceed with the PAN number or the application number. 
• Submit your details to get the allotment status online. 

Check On the Registrar Portal

• Visit the registrar portal.
• Click on the allotment option.
• Fill in the required details.
• Click on the submit button to know your Vikram Solar IPO allotment status.

Let’s Wrap

Vikram Solar IPO is a bookbuilding issue of shares worth ₹2,079.37 crores. The shares of Vikram Solar Limited will be listed on BSE and NSE on its tentative listing date of 26th August 2025. Researching the Vikram Solar IPO GMP and reviews is highly suggested to book your ideal profitability. Brokers and investors have highlighted their pros and cons, so one must analyse them and decide accordingly.

Open a demat account on Univest now to initiate your investment journey!

Also Read : ANB Metal Cast IPO Allotment Status Check Online: GMP, Subscription, Price, and More

FAQs on Vikram Solar IPO

How is the Vikram Solar IPO?

Ans. Currently, on 18th August 2025, the Vikram Solar IPO GMP (Grey Market Premium) stands at ₹61. It indicates that the estimated listing price could be ₹393 per share. It is a bookbuilding IPO of ₹2,079.37 crores, comprising a fresh issue of 4.52 crore shares and offer for sale of 1.75 crore shares. The face value of each share of Vikram Solar Limited is ₹10 per share. 

What is the Vikram Solar IPO price?

Ans. The Vikram Solar IPO price band has been set between ₹315 and ₹332 per share.  Retail investors can apply for a minimum of 1 lot consisting of 45 shares worth ₹14,940. Moreover, HNIs are required to bid for a minimum of 14 lots (630 shares) worth ₹2,09,160.

Is the Vikram Solar IPO good?

Ans. Vikram Solar Limited’s revenue decreased by 17% from ₹736.17 crores in March 2024 to ₹610.45 crores in March 2025. Moreover, the company’s PAT dropped by 13% from ₹124.51 crores to ₹141.24 crores.

Who is the registrar of the Vikram Solar IPO?

Ans. MUFG Intime India Private Limited is the registrar of the Vikram Solar IPO, awaiting to manage the IPO allotment procedure and refund initiation. For any queries regarding the Vikram Solar allotment and refund, you can contact MUFG Intime India Private Limited at ipo.helpdesk@linkintime.co.in,+91-22-4918 6270.

What is the issue size of the Vikram Solar IPO? 

Ans. Vikram Solar IPO is a bookbuilding IPO for 4.52 crore shares worth ₹2,079.37 crores. Moreover, the IPO is set to open on 19th August 2025 and will be closed on 21st August 2025. 

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Vikram Solar IPO, download the Vikram Solar IPO RHP and Vikram Solar IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.

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