• By Shreyansh Mangla
  • Tue, 19 Aug 2025 03:55 PM (IST)
  • Source:JND

Vikram Solar IPO: Vikram Solar, one of India's largest solar PV module manufacturers, has launched a Rs 2,079.37 crore Initial Public Offering (IPO) to raise funds for capacity expansion and to finance its subsidiary's capital expenditures. The company plans to use the fresh issue proceeds to invest in its wholly-owned subsidiary, VSL Green Power Private Ltd, for setting up new solar cell and module manufacturing facilities.

The IPO has garnered significant investor interest, with a strong Grey Market Premium (GMP) indicating potential for a positive listing. On its first day, the IPO saw 1.24 times subscription till 3.24 PM, driven by strong interest from Non-Institutional Investors (NIIs). While the GMP indicates a strong listing potential with gains of over 15 per cent, some analysts have raised concerns about its high valuation and the market's recent super-profits.

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Vikram Solar IPO Details

Opening Date: August 19, 2025

Closing Date: August 21, 2025

Vikram Solar IPO Price Band: Rs 315 to Rs 332 per equity share

Vikram Solar IPO Listing Date: The shares are tentatively scheduled to be listed on both the BSE and NSE on August 26, 2025.

Vikram Solar IPO Lot Size: Retail investors can bid for a minimum of 45 shares, which amounts to a minimum investment of Rs 14,940 at the upper end of the price band.

Vikram Solar IPO Allotment Status: Allotment is expected to be finalised on Friday, August 22, 2025.

Vikram Solar IPO Subscription Status

Vikram Solar IPO was subscribed 1.24 times 3:24 PM on Day 1. It was subscribed 1.20 times in the retail category, 0.02 times in QIB, and 2.95 times in the NII category, according to chittorgarh.com.

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Vikram Solar IPO GMP (Grey Market Premium)

The GMP is reported to be in the range of Rs 48 to Rs 70. This suggests an estimated listing price of around Rs 380 to Rs 402 per share, which is approximately 14 per cent to 21 per cent higher than the upper end of the price band.

Many brokerage firms are indicating positive signs for the IPO, suggesting that investors should consider a long-term subscription. These firms believe that the company's aggressive expansion plans, strong order book, and move toward backward integration will support its future growth.