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Vikram Solar Limited IPO | Important Dates, Price, and More
Author
Shoonya Team
Vikram Solar Limited, one of India’s leading solar photovoltaic (PV) module manufacturers, is set to launch its ₹2,079.37 crore IPO. The issue opens on August 19, 2025 and closes on August 21, 2025. It consists of a fresh issue of ₹1,500 crore and an offer for sale worth ₹579.37 crore.
The IPO is priced in the band of ₹315–₹332 per share, with a lot size of 45 shares. Allotment will be finalised on August 22, 2025, and the listing is expected on August 26, 2025, on both BSE and NSE.
Here are the quick steps to apply for the Vikram Solar Limited IPO!
Vikram Solar Limited IPO Details
| Detail | Information |
| IPO Opening Date | August 19, 2025 |
| IPO Closing Date | August 21, 2025 |
| Allotment Date | August 22, 2025 |
| Refunds Initiated | August 25, 2025 |
| Listing Date | August 26, 2025 |
| Cut-off Time for UPI Mandate Confirmation | 5 PM on August 21, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹315 to ₹332 per share |
| Lot Size | 45 Shares |
| IPO Segment | Bookbuilding IPO |
| Total Issue Size | 6,26,31,604 shares (₹2,079.37 Cr) |
| Fresh Issue | 4,51,80,722 shares (₹1,500.00 Cr) |
| Offer for Sale | 1,74,50,882 shares (₹579.37 Cr) |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 31,65,36,309 shares |
| Shareholding Post-Issue | 36,17,17,031 shares |
Vikram Solar Limited IPO | Company Overview
Vikram Solar Limited has grown into one of India’s top solar module manufacturers. It was founded in 2005. The company makes advanced solar PV modules, including PERC, TOPCon, and HJT. It also manages complete solar projects through its Engineering, Procurement and Construction services.
Vikram Solar runs two major production facilities, one at Falta SEZ in Kolkata and another at Oragadam in Chennai. These plants enable the company to supply products both within India and to international markets. Its reach inside India is extensive, with operations across 23 states and 3 union territories. The distribution network includes 41 authorized distributors, 64 dealers, and 67 system integrators, ensuring wide access to its products.
The company works with a strong mix of public and private clients. On the government side, it serves entities like NTPC, Neyveli Lignite Corporation, and Gujarat Industries Power Company. Among private, it has partnered with large independent power producers such as ACME Cleantech Solutions. As of March 31, 2025, Vikram Solar employed over 1,600 permanent staff and nearly 1,000 contractual employees.
Vikram Solar Limited IPO | Key Details
- IPO Opening Date: August 19, 2025
- IPO Closing Date: August 21, 2025
- Allotment Date: August 22, 2025
- Price Band: ₹315 to ₹332 per share
- Vikram Solar IPO Size: ₹2,079.37 Crore
- Refunds Initiated: August 25, 2025
- Shares Credited to Demat: August 25, 2025
- Listing Date: August 26, 2025
- Cut-off Time for UPI Mandate Confirmation: 5 PM on August 21, 2025
Vikram Solar Limited IPO | Financial Overview
Vikram Solar Limited has delivered strong financial performance in recent years. The company’s revenue grew significantly by 37% in FY25, while profit after tax jumped 75% compared to FY24.
Here’s a snapshot of the year-on-year financials:
Amounts in ₹ Crore
| Financial Information (₹ in Crore) | 31-Mar-25 | 31-Mar-24 | Change | Change (%) |
| Assets | 2,832.15 | 2,585.50 | 246.65 | 9.54% |
| Total Income | 3,459.53 | 2,523.96 | 935.57 | 37.07% |
| Profit After Tax | 139.83 | 79.72 | 60.11 | 75.43% |
| EBITDA | 492.01 | 398.58 | 93.43 | 23.44% |
| Net Worth | 0.86 | -0.10 | 0.96 | NA |
| Reserves and Surplus | 932.60 | 192.16 | 740.44 | 385.30% |
| Total Borrowing | 0.00 | 0.10 | -0.10 | -100.00% |
Vikram Solar Limited IPO | FAQ’s
The Vikram Solar Limited IPO opens on August 19, 2025 and closes on August 21, 2025.
The price band of Vikram Solar Limited IPO is set at ₹315 to ₹332 per share, and the IPO lot size is 45 shares.
The Vikram Solar Limited IPO allotment date is August 22, 2025, and the listing date is August 26, 2025.
Investors can check the Vikram Solar Limited IPO allotment status on the registrar’s website (MUFG Intime India Pvt. Ltd.) or the stock exchange websites (BSE, NSE) after allotment is finalised.
The Vikram Solar Limited IPO issue size is ₹2,079.37 crore. It consists of a fresh issue of shares worth ₹1,500 crore and an offer for sale of shares worth ₹579.37 crore.
The Vikram Solar Limited IPO face value is ₹10 per share.
The cut-off time to confirm UPI mandates for Vikram Solar Limited IPO is 5 PM on August 21, 2025.
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.
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