Vikram Solar IPO: A Promising Step Towards Clean Energy Investment
Last Updated: August 25, 2025, 11:05 IST
The initial public offering (IPO) of Vikram Solar Limited, a leading manufacturer of solar photovoltaic modules, has captured significant attention in the financial markets. Opened from August 19 to August 21, 2025, this IPO has not only showcased the growing interest in renewable energy but also highlighted the robust demand for shares in the clean energy sector.
IPO Overview
Vikram Solar’s IPO comprises a fresh issue of 4.52 crore shares valued at ₹1,500 crore, alongside an offer for sale (OFS) of 1.75 crore shares, aggregating to ₹579.37 crore. The price band for the shares has been set between ₹315 and ₹332, with a minimum investment requirement of ₹14,940 for retail investors, based on a lot size of 45 shares.
The IPO has garnered an overwhelming response, receiving bids for a staggering 2,47,81,57,965 shares against the offered 4,53,61,650 shares. This reflects a subscription rate of 54.63 times, indicating strong investor confidence in the company’s growth prospects.
Allotment and Listing Anticipation
The allotment of shares for the Vikram Solar IPO was completed on August 22, 2025. Investors who received their allotments are now eagerly awaiting the listing on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), scheduled for August 26, 2025. The market is buzzing with speculation regarding the expected listing price, with the grey market premium (GMP) currently at ₹41, suggesting a potential listing at a 12.35% premium over the upper price band.
How to Check Allotment Status
Investors can easily check their allotment status through two primary methods:
Method 1: Through Registrar (MUFG Intime India Pvt. Ltd.)
- Visit the MUFG Intime India IPO allotment page.
- Select Vikram Solar Limited from the dropdown list of IPOs.
- Choose an identification option: PAN number, Application number, or DP/Client ID.
- Enter the required details, fill in the captcha, and click Submit.
- The allotment status will be displayed on the screen.
Method 2: Through BSE Website
- Go to the BSE IPO Allotment page.
- Select "Equity" under issue type.
- Choose Vikram Solar Limited from the dropdown.
- Enter your Application Number or PAN.
- Click Search to view your allotment status.
Financial Performance and Future Prospects
Vikram Solar has demonstrated impressive financial growth, reporting a revenue of ₹3,459.53 crore for FY25, marking a 37% year-on-year increase. The net profit surged by 75% to ₹139.83 crore, showcasing the company’s operational efficiency and market demand.
The proceeds from the fresh issue will be utilized to partially fund capital expenditures for Phase-I (₹769.73 crore) and Phase-II (₹595.21 crore) projects, along with meeting general corporate purposes. Notably, the company has already raised ₹620.81 crore from anchor investors by allotting 1.87 crore shares, with a portion of these shares subject to a lock-in period.
Post-issue, the promoters’ holding will decrease from 77.64% to 63.11%, indicating a strategic move to enhance liquidity and attract more institutional investors.
Conclusion
With a market capitalization of approximately ₹12,009 crore at the IPO price, Vikram Solar is poised to play a pivotal role in India’s clean energy transition. The rising demand for high-efficiency solar modules, coupled with the government’s push for renewable energy, positions Vikram Solar as a key player in the sector.
As investors await the listing, the enthusiasm surrounding the IPO reflects a broader trend towards sustainable investments, making Vikram Solar a noteworthy opportunity in the current market landscape.