
Industrial & Financial Services · NSE / BSE
Vikram Solar Limited, established in 2005, is a leading name in the solar energy sector, specializing in the production of high-efficiency photovoltaic (PV) modules. Serving both Indian and international markets, the company offers advanced solar solutions through three main business segments: PV module manufacturing, turnkey Engineering, Procurement, and Construction (EPC) services, and operations and maintenance (O&M) support to ensure long-term performance and reliability of solar installations. Its product portfolio features high-performance modules developed using cutting-edge technologies such as PERC (p-type monocrystalline silicon with Passivated Emitter and Rear Contact), TOPCon (n-type monocrystalline silicon with Tunnel Oxide Passivated Contact), and HJT (n-type silicon with Heterojunction Technology). These modules are available in both bifacial (glass-to-glass or glass-to-transparent back sheet) and monofacial (glass-to-white or black back sheet) variants. The company operates two strategically located manufacturing facilities—one in Falta SEZ, Kolkata, West Bengal, and another in Oragadam, Chennai, Tamil Nadu. As of March 31, 2024, Vikram Solar had a workforce comprising 1,513 permanent employees and 728 contractual workers
Price Band
₹315 – ₹332
Issue Size
₹2079 Cr
Lot Size
45 shares
GMP
+10.5%
Est. Listing
₹367
at current GMP
Subscribed
56.41x
overall
Open
19 Aug 2025
Close
21 Aug 2025
Allotment
22 Aug 2025
Refund
23 Aug 2025
Demat Credit
24 Aug 2025
Listing
26 Aug 2025
Designated Registrar: Link Intime India Private Ltd (MUFG)
Allotment Date
22 Aug 2025
Basis finalization
Refunds Initiate
23 Aug 2025
Mandate release
Demat Credit
24 Aug 2025
Shares in demat
Listing Debut
26 Aug 2025
Trading begins
Vikram Solar Limited is bringing an initial public offering (IPO) in the Industrial & Financial Services sector with an aggregate issue size of ₹2,079.37 Crores. The shares are offered at a price band of ₹315 to ₹332 per equity share on NSE and BSE. Currently, investors are tracking the grey market premium (GMP) and institutional subscription multiples closely across BSE and NSE portals.
The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.
Following the close of bidding on 2025-08-21, the basis of allotment is scheduled to be finalized on 2025-08-22. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Link Intime India Private Ltd (MUFG)) or the BSE allotment checking window.
Allotment records are updated in batches. If the status is not yet available, please wait a few hours until the basis of allotment is fully finalized.
Since funds are blocked under ASBA/UPI, the bank will automatically release the blocked hold on your funds upon receipt of revocation instructions from the sponsor bank.