Vikram Solar Limited, a major player in solar photovoltaic manufacturing in India, has launched its ₹2,079 crore IPO, comprising a fresh issue of ₹1,500 crore and an offer for sale of ₹579 crore. The issue opens for subscription on August 19, 2025, at a price band of ₹315 to ₹332 per share, and closes on August 21, 2025. Post allotment, the company’s shares are expected to be listed on both the BSE and NSE on August 26, 2025.
Vikram Solar IPO Day 2 Subscription Status
Vikram Solar IPO was subscribed 4.73 times on the second day, led by non-institutional investors at 13.51 times and retail investors at 3.62 times, while QIBs subscribed 0.12 times.
| Investor Category | Subscription (x) |
|---|---|
| Qualified Institutional Buyers (QIB) | 0.12 |
| Non-Institutional Investors (NII) | 13.51 |
| bNII (above ₹10 lakh) | 13.35 |
| sNII (less than ₹10 lakh) | 13.85 |
| Retail Individual Investors (RII) | 3.62 |
| Employees | 2.49 |
| Total Subscriptions | 4.73 |
Total Applications: 15,25,121
Total Bid Amount (₹ crores): 6,891
Objective of the Vikram Solar IPO
Vikram Solar Limited intends to utilize the net proceeds from the fresh issue towards funding capital expenditure for its Phase I and Phase II projects, along with meeting general corporate purposes.
| Use of IPO Proceeds | Amount (₹ Cr) |
|---|---|
| Partial funding of capital expenditure for the Phase-I Project | 769.73 |
| Funding of capital expenditure for the Phase-II Project | 595.21 |
| General Corporate Purposes | – |
Vikram Solar IPO GMP – Day 2 Update
The grey market premium (GMP) of Vikram Solar IPO is ₹48, as on 5:00 PM August 20, 2025. The upper limit of the price band is ₹332, and the estimated listing price as per today’s GMP can be ₹380, giving a potential gain of around 14.46% per share.
| Date | GMP | Est. Listing Price | Gain |
|---|---|---|---|
| 20-08-2025 (DAY 2) | ₹48 | ₹380 | 14.46% |
Disclaimer: The above GMP (Grey Market Premium) is just unofficial market information, which is not officially confirmed. These figures are shared for informational purposes only and investment decisions based on these should be based on the investor’s own research and discretion. We do not conduct, recommend or support any kind of transaction in the grey market.
Vikram Solar IPO – Key Details
| Particulars | Details |
|---|---|
| IPO Opening Date | August 19, 2025 |
| IPO Closing Date | August 21, 2025 |
| Issue Price Band | ₹315 to ₹332 per share |
| Total Issue Size | 6,26,31,604 shares(aggregating up to ₹2,079.37 Cr) |
| Listing Platform | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Vikram Solar IPO RHP | Click Here |
Important Dates for Vikram Solar IPO Allotment
| Event | Date |
|---|---|
| Tentative Allotment | August 22, 2025 |
| Refunds Initiation | August 25, 2025 |
| Credit of Shares to Demat | August 25, 2025 |
| Listing Date | August 26, 2025 |
Vikram Solar Overview
Vikram Solar Limited is one of India’s largest solar photovoltaic (PV) module manufacturers, with over 17 years of industry experience. As of March 31, 2025, the company has an installed manufacturing capacity of 4.5 GW, strategically located in West Bengal and Tamil Nadu, and is expanding to 20.5 GW by FY 2027. Its product portfolio includes high-efficiency Mono-PERC, N-Type, and HJT solar modules, supported by strong R&D and global certifications. Vikram Solar also provides EPC and O&M services and exports to over 39 countries, serving marquee clients worldwide while maintaining a strong domestic presence.
Read Also: Vikram Solar IPO Day 1: Check GMP, Subscription Status & Key Highlights
Easy Steps to Apply for Vikram Solar IPO via Pocketful
Step 1 : Install the Pocketful Application from Play Store or App Store
Step 2 : Sign up and complete your KYC requirements
Step 3 : Go to the IPO section from the home page
Step 4 : Look for “Vikram Solar” in the list
Step 5 : Tap on Apply and enter your bid details
Frequently Asked Questions (FAQs)
What is the opening and closing date of Vikram Solar IPO?
Vikram Solar IPO is open on 19 August 2025 and will close on 21 August 2025.
What is the price band of the Vikram Solar IPO?
Its price band is fixed from ₹315 to ₹332 per share.
What is the GMP (Grey Market Premium) of Vikram Solar IPO today?
The GMP on 20 August 2025 is ₹48, which leads to a possible listing price of ₹380.
What is the total issue size of Vikram Solar IPO?
The total issue size of the Vikram Solar IPO is ₹2,079.37 crore, consisting of ₹1,500 crore of fresh issue and ₹579.37 crore of offer for sale.
What is the expected listing date of Vikram Solar?
This IPO is expected to be listed on BSE and NSE on August 26, 2025.
