Vikram Solar Limited, one of India’s largest solar module manufacturers, will open its ₹2,079.37 crore IPO for subscription on August 19. The issue, priced between ₹315–₹332 per share, will close on August 21 with listing on NSE and BSE expected by August 25.
Vikram Solar Limited, headquartered in Kolkata, is a leading player in the renewable energy industry, specializing in the manufacturing of high-efficiency solar photovoltaic modules and solar EPC services. With a growing presence across domestic and international markets, the company has built a strong foundation in India’s fast-expanding clean energy sector.
The company will launch its initial public offering (IPO) on August 19, 2025, and the issue will remain open until August 21, 2025. The IPO is structured to raise ₹2,079.37 crore, comprising a fresh issue of ₹1,500 crore and an offer for sale (OFS) worth ₹579.37 crore. Shares will be offered in a price band of ₹315–₹332 per equity share, with a minimum lot size of 45 shares.
IPO Details at a Glance:
- Issue Size: ₹2,079.37 crore
- Fresh Issue: ₹1,500 crore
- Offer for Sale: ₹579.37 crore
- Price Band: ₹315–₹332 per share
- Lot Size: 45 shares per lot
- Subscription Period: August 19–21, 2025
- Allotment Date: August 22, 2025
- Listing Date: August 25, 2025
- Exchanges: NSE, BSE
- Registrar: MUFG Intime India Pvt. Ltd.
- Lead Managers: JM Financial, Nuvama Wealth Management, UBS Securities India, Equiras Capital, Philip Capital India
Also Read: Vikram Solar Sets IPO Price Band as Market Eyes ₹14,190 Crore Valuation
According to market indications, Vikram Solar shares are trading at a grey market premium (GMP) of ₹63, which suggests potential listing gains of nearly 19% against the upper price band.
The company has stated that proceeds from the fresh issue will be utilized for funding Phase I and Phase II expansion projects, capital expenditures, and general corporate purposes.
Financially, Vikram Solar reported a return on equity (ROE) of 16.55%, EBITDA margins of 14.35%, and profit after tax (PAT) margins of over 4% as of March 31, 2025. The IPO is expected to value the company at around ₹12,009 crore in market capitalization post-listing.
With India’s clean energy targets creating strong demand for solar infrastructure, Vikram Solar’s IPO arrives at a time of significant sectoral momentum, making it one of the most closely watched offerings in August 2025.
READ MORE ON
