Vikram Solar IPO Subscription, GMP, Details & Reviews
Posted by : sachet | Thu Aug 21 2025
Here is the final call for the Vikram Solar IPO launched on 19th August 2025. The issue will be closed for bidding today, on 21st August 2025. The primary aim of the Vikram Solar IPO is to raise ₹2,079.37 crores from the market. Also, the Vikram Solar IPO has received an impressive level of subscription, which indicates that shares will be listed at an impeccable premium. Scroll down to check the Vikram Solar IPO subscription and details.
Vikram Solar IPO Details
| IPO Open Date | 19th August 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹312 to ₹332 per share |
| Lot Size | 45 shares |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE & NSE |
| IPO Close Date | 21st August 2025 |
| Listing Date | 26th August 2025 |
The price band for the Vikram Solar IPO has been prescribed as ₹312 to ₹332 per share, and 6,26,31,605 shares in total have been issued. Let’s segregate the share quota fixed for different categories of investors.
| Investor Categories | Shares Offered | % Shares Offered |
| QIB Shares Offered | 3,11,65,200 | 49.76% |
| Retail Shares Offered | 2,18,15,640 | 14.94% |
| NII (HNI) Shares Offered | 93,49,560 | 34.83% |
| Employee Shares Offered | 3,01,205 | 0.48% |
| Total Shares Offered | 6,26,31,605 | 100.00% |
Vikram Solar IPO Subscription Status
As of now, the Vikram Solar IPO has been subscribed to 43.84 times. Of these, 7.46 times are subscribed by retail investors, 51.73 times by non-institutional investors, and 102.53 times by QII (Qualified Institutional Investors).
The healthy subscription status indicates that investors are expecting higher returns at the time of the Vikram Solar IPO listing on 26th August 2025. Vikram Solar IPO also has a positive outlook behind the fresh issue of 4.52 crore shares to raise around Rs 2,079.37 crores.
Vikram Solar IPO GMP Today
We know that higher subscriptions encourage grey market premiums for the IPOs. Let’s explore the Vikram Solar IPO GMP for 21st August 2025.
The grey market premium for this IPO is 13.55% or Rs 45 per share. It indicates that the estimated listing price per share is Rs 377. Numerous factors played a pivotal role in this jump in Vikram Solar IPO’s IPO GMP. These include higher subscriptions received, positive market sentiments, and investors’ positive attitude towards IPO.
About Vikram Solar IPO Ltd.
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 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 business expansion, to meet corporate needs, and to repay debt. The company is recognised all over the world, serving 23 states and three union territories through its strong distribution network of 41 authorised 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.
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.
| Year Ended | 31st March 2025 (in cr.) | 31st March 2024 (in cr.) | 31st March 2023 (in cr.) |
| Assets | 2,832.15 | 2,585.50 | 2,476.29 |
| Revenue | 3,459.53 | 2,523.96 | 2,091.91 |
| Profit After Tax | 139.83 | 79.72 | 14.49 |
| EBITDA | 492.01 | 398.58 | 186.18 |
| Net Worth | 0.86 | -0.10 | -0.80 |
| Reserves and Surplus | 932.60 | 192.16 | 113.07 |
| Total Borrowings | 0.00 | 0.10 | 0.09 |
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.
Technical Indicators
Some 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.
| Key Indicators | Value |
| PE Ratio (Price-to-Earnings) | 75.16 |
| EPS (Earnings Per Share) | 4.42 |
| RoNW | 11.26% |
| ROCE | 24.29% |
| ROE | 16.57% |
| EBITDA Margin | 14.37% |
| Price to Book Value | 8.46 |
| Market Capitalisation | ₹12009.01 Cr |
Vikram Solar IPO Listing Expectations
Vikram Solar IPO Highlights: IPO allotment is still pending, as the bid will be closed today. However, as per the current GMP or market sentiments, it is appropriate to expect higher listing gains from the share. A jump of 13.55% in Vikram Solar IPO GMP indicates that the estimated listing price per share will be somewhere around Rs 377.
It will provide higher listing gains to investors who applied for this IPO. Also, the financial fundamentals of this business made it the experts’ best recommendations for the long term.
Vikram Solar IPO Dates
| IPO Open Date | 19th August 2025 |
| IPO Close Date | 21st August 2025 |
| Allotment | 22nd August 2025 |
| Refund Date | 25th August 2025 |
| IPO Listing Date | 26th August 2025 |
Note: IPO GMP is volatile based on market sentiment. Hence, one should conduct their research before investing in it.
Also Read : Amar Raja Energy Q1 Results FY26: Q1 PAT Falls 33.85% to ₹164.80 Crore; Revenue Up 4.23% YoY
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