Vikram Solar IPO is all set to make its stock market debut on August 26, 2025, on both BSE and NSE exchanges. The solar energy company’s public offering has generated significant investor interest, with the issue being oversubscribed by more than 54 times. If you’re looking to understand everything about Vikram Solar’s listing date, current grey market premium (GMP), share price expectations, and allotment status, this comprehensive guide has you covered.
Vikram Solar IPO Key Details at a Glance
Let’s start with the essential information every investor needs to know about this highly anticipated IPO:
| IPO Detail | Information |
|---|---|
| Company Name | Vikram Solar Limited |
| IPO Opening Date | August 19, 2025 |
| IPO Closing Date | August 21, 2025 |
| Listing Date | August 26, 2025 |
| Price Band | ₹315 to ₹332 per share |
| Lot Size | 45 shares |
| Issue Size | ₹2,079.37 crores |
| Face Value | ₹10 per share |
| Exchanges | BSE & NSE |
What Makes Vikram Solar Special?
Vikram Solar Limited stands out as one of India’s largest solar photovoltaic (PV) module manufacturers. Founded in 2005 and headquartered in Kolkata, the company has grown tremendously over the past 15+ years.
“Vikram Solar has an installed manufacturing capacity of 4.5 GW and is recognized as a Tier-1 module manufacturer by Bloomberg New Energy Finance.”
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Business Highlights
The company operates across three main business segments:
- Solar PV Module Manufacturing (97% of revenue) – High-efficiency mono PERC and bifacial panels
- Engineering, Procurement & Construction (EPC) services for solar projects
- Operations & Maintenance (O&M) services for solar power plants
With manufacturing facilities in West Bengal and Tamil Nadu, Vikram Solar has a strong presence across six continents and serves both government and private clients globally.
Vikram Solar IPO Listing Date – August 26, 2025
The much-awaited Vikram Solar IPO listing is scheduled for August 26, 2025, which is tomorrow for most investors reading this guide. The shares will start trading on both BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) at 10:00 AM.
Timeline Leading to Listing
Here’s the complete timeline that investors have been following:
| Date | Event |
|---|---|
| August 19-21, 2025 | IPO Subscription Period |
| August 22, 2025 | Basis of Allotment Finalized |
| August 25, 2025 | Refunds Initiated & Shares Credited |
| August 26, 2025 | Stock Market Listing |
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Current Vikram Solar GMP (Grey Market Premium)
The grey market premium is a crucial indicator that gives investors an early hint about potential listing gains. As of August 25, 2025, Vikram Solar IPO GMP stands at approximately ₹41 per share.
What This GMP Means for Investors
- Current GMP: ₹41 per share
- IPO Upper Price: ₹332 per share
- Expected Listing Price: ₹373 per share (₹332 + ₹41)
- Potential Listing Gains: 12.35%
Important Note: Grey market premium can fluctuate based on market conditions and investor sentiment. These are unofficial figures and actual listing performance may vary.
GMP Trend Over Time
Here’s how Vikram Solar’s GMP has moved in recent days:
| Date | GMP | Expected Listing Price | Potential Gains |
|---|---|---|---|
| August 17, 2025 | ₹68 | ₹400 | 20.48% |
| August 19, 2025 | ₹48 | ₹380 | 14.46% |
| August 21, 2025 | ₹42 | ₹374 | 12.65% |
| August 25, 2025 | ₹41 | ₹373 | 12.35% |
Vikram Solar Share Price Analysis
IPO Pricing Details
Vikram Solar’s shares were offered in a price band of ₹315 to ₹332 per share. With a lot size of 45 shares, the minimum investment required was ₹14,940 for retail investors.
Financial Performance Justifying Share Price
The company has shown impressive financial growth that supports its valuation:
- Revenue Growth: Increased to ₹3,459 crores in FY25 from ₹2,524 crores in FY24 (37% growth)
- Profit Growth: Net profit jumped 75% to ₹140 crores in FY25
- EBITDA Margin: Improved to 14.37% in FY25 from 9% in FY23
- Return on Equity: Strong ROE of 16.57%
Market Capitalization
At the upper price band of ₹332, Vikram Solar’s market capitalization is approximately ₹12,009 crores.
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Vikram Solar IPO Allotment Status Check
The basis of allotment was finalized on August 22, 2025. Investors can check their allotment status through multiple channels:
Method 1: Check on Registrar Website (MUFG Intime India)
- Visit: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
- Select “Vikram Solar IPO”
- Enter your PAN, Application Number, or DP/Client ID
- Click Submit to view status
Method 2: Check on NSE Website
- Go to NSE IPO allotment check page
- Choose “Equity & SME IPO bid details”
- Select “Vikram Solar”
- Enter PAN or Application Number
- Submit to check status
Method 3: Check on BSE Website
- Visit BSE investor portal
- Go to “Status of Issue Application”
- Select “Equity” as issue type
- Choose “Vikram Solar Ltd”
- Enter PAN number and search
Subscription Status – Overwhelming Response
The IPO received an extraordinary response with 54.63 times overall subscription:
| Investor Category | Subscription Multiple |
|---|---|
| Qualified Institutional Buyers (QIBs) | 142.79 times |
| Non-Institutional Investors (NIIs) | 50.90 times |
| Retail Individual Investors | 7.65 times |
| Overall Subscription | 54.63 times |
This massive oversubscription indicates strong investor confidence in the solar energy sector and Vikram Solar’s business prospects.
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Investment Prospects and Industry Outlook
Solar Energy Market Growth
The Indian solar energy market presents tremendous opportunities:
- Market valued at USD 8 billion in 2025
- Expected to reach USD 14 billion by 2031
- CAGR of 10.51% during forecast period
- India has only tapped 11% of its 750 GW solar potential
Vikram Solar’s Competitive Position
Strengths:
- One of India’s largest solar module manufacturers (4.5 GW capacity)
- Strong R&D and quality control systems
- Established global presence across six continents
- Tier-1 manufacturer credentials from Bloomberg NEF
Areas of Concern:
- High customer concentration (top 10 customers account for 90% revenue)
- Dependence on imported raw materials
- Intense competition from established players
Frequently Asked Questions (FAQ)
Q1: When is Vikram Solar IPO listing date?
Answer: Vikram Solar IPO listing date is August 26, 2025, on both BSE and NSE exchanges.
Q2: What is the current Vikram Solar GMP?
Answer: The current grey market premium is approximately ₹41 per share, indicating potential 12.35% listing gains.
Q3: How can I check Vikram Solar IPO allotment status?
Answer: You can check allotment status on the registrar website (MUFG Intime India), NSE, or BSE using your PAN or application number.
Q4: What was the subscription status of Vikram Solar IPO?
Answer: The IPO was oversubscribed 54.63 times overall, with QIBs subscribing 142.79 times their quota.
Q5: What is the minimum investment required?
Answer: The minimum investment is ₹14,940 for one lot of 45 shares at the upper price band of ₹332.
Q6: What will Vikram Solar use the IPO funds for?
Answer: The fresh issue proceeds will fund capital expenditure for Phase-I (₹770 crores) and Phase-II (₹595 crores) manufacturing expansion projects.
Final Investment Takeaway
Vikram Solar’s IPO represents a significant opportunity in India’s growing renewable energy sector. With strong financial performance, market-leading position, and ambitious expansion plans, the company is well-positioned to benefit from India’s solar energy boom.
However, investors should consider the high valuation multiples and competitive landscape before making investment decisions. The positive GMP and overwhelming subscription suggest market optimism, but as always, investors should conduct their own research and consult financial advisors.
The listing on August 26, 2025, will be crucial in determining whether the market enthusiasm translates into actual returns for investors.
