Vikram Solar IPO Date, Review, Price, Allotment Details
Vikram Solar IPO open date is August 19, 2025 and the IPO will close on August 21, 2025. Vikram Solar IPO is a Book Built Issue. The company is raising around ₹2,079.37 crores via an IPO that comprises a fresh issue of ₹1,500 crores and an offer for sale of up to 17,450,882 equity shares with a face value of ₹10 each.
Vikram Solar IPO price band is ₹315 to ₹332 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Vikram Solar IPO is to list on BSE and NSE on August 26, 2025. The allotment of the Vikram Solar IPO date is August 22, 2025.
The company reported revenue of ₹3,459.53 crores in 2025 against ₹2,523.96 crores in 2024. The company reported a profit of ₹139.83 crores in 2025 against a profit of ₹79.72 crores in 2024. As per the financials, the IPO investors should apply for the IPO for the long term.
Vikram Solar IPO Details
IPO Open Date: August 19, 2025 IPO Close Date: August 21, 2025 Face Value: ₹10 Per Equity Share IPO Price Band: ₹315 to ₹332 Per Share Issue Size: Approx ₹2,079.37 Crores Fresh Issue: Approx ₹1,500 Crores Offer for Sale: Approx 17,450,882 Equity Shares Lot Size: 45 Shares Issue Type: Book Built Issue IPO Listing: BSE & NSE Retail Quota: Not more than 35% QIB Quota: Not more than 50% NII Quota: Not more than 15% DRHP Draft Prospectus: Click Here RHP Draft Prospectus: Click Here Anchor Investors List: Click Here
Vikram Solar IPO Market Lot
The Vikram Solar IPO minimum market lot is 45 shares with a ₹14,940 application amount. The retail investors can apply for up to 13 lots with 585 shares of ₹1,94,220.
Application Lot Size Shares 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
Vikram Solar IPO Dates
The Vikram Solar IPO date is August 19 and the close date is August 21. The Vikram Solar IPO allotment will be finalized on August 22 and the IPO listing on August 26.
IPO Open Date: August 19, 2025 IPO Close Date: August 21, 2025 Basis of Allotment: August 22, 2025 Refunds: August 25, 2025 Credit to Demat Account: August 25, 2025 IPO Listing Date: August 26, 2025
Promoters of Vikram Solar IPO
The promoters of the company are Gyanesh Chaudhary, Gyanesh Chaudhary Family Trust And Vikram Capital Management Private Limited.
About Vikram Solar IPO
Vikram Solar Limited, founded in 2009, is known as one of the top makers of solar panels. It has a large operational capacity, producing solar photovoltaic (PV) modules that support the country’s shift toward renewable energy. Further, since its establishment in 2009, it has started manufacturing with a 12 MW capacity and has now grown to 3.50 gigawatts (GW). This firm has a main focus on joining various types and sizes of solar products like solar panels, inverters, and cleaning systems.
Moreover, this helps the company test the performance of their new solar panels and check the quality of other equipment, such as inverters and robotic cleaners. Its revenue for 2024 is 25,109.90 million. In order to expand market demand, it has mainly focused on a production capacity of 10.50 GW by FY26 and 15.50 GW by FY27, including building a 3 GW solar cell manufacturing plant in Tamil Nadu. It has also a revenue of 2024 is 25,109.90 Million.
Vikram Solar IPO Company Financial Report
The company reported revenue of ₹3,459.53 crores in 2025 against ₹2,523.96 crores in 2024. The company reported a profit of ₹139.83 crores in 2025 against a profit of ₹79.72 crores in 2024.
Amount ₹ in Crores
Period Ended 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 2025 ₹3,459.53 ₹3,242.16 ₹139.83 ₹2,832.15
Vikram Solar IPO Valuation – FY2025
Check Vikram Solar IPO valuation details like Earning Per Share (EPS), Price/Earning Ratio (P/E), Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
KPI Values ROE: 16.57% ROCE: 24.49% EBITDA Margin: 14.37% PAT Margin: 4.08% Debt-to-equity ratio: 0.19 Earning Per Share (EPS): ₹4.61 (Basic) Price/Earning P/E Ratio: N/A Return on Net Worth (RoNW): 11.26% Net Asset Value (NAV): ₹39.24
Peer Group Comparison
Company EPS PE Ratio RoNW % NAV Income Premier Energies Limited 21.35 47.01 33.21% 62.61 6,652.09 Cr. Websol Energy System Limited 36.66 40.04 55.65% 65.88 577.43 Cr. Waaree Energies Limited 68.24 45.79 20.09% 334 14,846.06 Cr.
Objects of the Issue
- Partial funding of capital expenditure through investment in our wholly owned Subsidiary, VSL Green Power Private Limited, for setting up of an integrated 3,000 MW solar cell and 3,000 MW solar module manufacturing facility at plot no. A-5, A-6, A-7 & A-10, SIPCOT Industrial Complex, Gangaikondan, District Tirunelveli 627 352, Tamil Nadu (“Project Site”) (“Phase-I Project”);
- Funding of capital expenditure through investment in our wholly owned Subsidiary, VSL Green Power
Private Limited, for expanding the manufacturing capacity of the solar module manufacturing facility set up under the Phase-I Project from 3,000 MW to 6,000 MW at the Project Site (“Phase-II Project”).
Vikram Solar IPO Registrar
MUFG Intime India Private Limited
Phone: +91 22 4918 6200
E-mail: vikramsolar.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- JM Financial Limited
- Nuvama Wealth Management Limited
- UBS Securities India Private Limited
- Equirus Capital Private Limited
- PhillipCapital (India) Private Limited
Company Address
Vikram Solar Limited
Biowonder, Unit No. 1102,
11th Floor, 789, Anandapur Main Road,
Eastern Metropolitan Bypass, E.K.T,
Kolkata -700107, West Bengal, India
Phone: +91 33 2442 7399/ +91 33 2442 7299
Email: secretarial@vikramsolar.com
Website: www.vikramsolar.com