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Vikram Solar IPO Opens Today: GMP Points To 16% Gains – Check Price Band, Subscription Date And Other Details Before Applying

admin | August 19, 2025 6:22 PM CST

Kolkata-based solar module maker Vikram Solar has opened its Rs 2,079.37 crore initial public offering (IPO) for subscription today, August 19, 2025. The issue will remain open till August 21, with shares expected to be listed on the BSE and NSE on August 26.

The IPO is a combination of a fresh issue worth Rs 1,500 crore and an offer for sale (OFS) of Rs 579.37 crore by promoters. Vikram Solar IPO Price Band The price band has been fixed at Rs 315-Rs 332 per share, while the minimum lot size for retail investors is 45 shares, translating to an investment of Rs 14,175. For high-net-worth investors, the minimum bid ranges from 14 lots (Rs 2.09 lakh) to 67 lots (Rs 10 lakh). Vikram Solar IPO Anchor Investors Ahead of the issue, Vikram Solar raised Rs 621 crore from anchor investors by allotting 1.87 crore shares at Rs 332 apiece. The anchor list includes top global and domestic institutions such as Goldman Sachs, Morgan Stanley, BNP Paribas, HSBC, Citigroup, ICICI Prudential Life, SBI General Insurance, UTI MF, Franklin Templeton MF, Kotak MF, Nippon India MF and Edelweiss MF. Vikram Solar IPO GMP Investor sentiment appears positive, with the IPO commanding a grey market premium (GMP) of Rs 54 as of this morning, according to market watchers. Based on the upper price band of Rs 332, Vikram Solar shares are expected to list at around Rs 386, implying a 16% listing gain if current trends sustain. Vikram Solar IPO Company Profile The company plans to use proceeds from the fresh issue to fund capital expenditure in its wholly owned subsidiary VSL Green Power Pvt Ltd for expansion projects. Founded in 2009, Vikram Solar has grown its manufacturing capacity from 12 MW to 4.5 GW as of 2025. It operates module manufacturing facilities in West Bengal and Tamil Nadu, along with a solar cell unit in Gangaikondan, Tamil Nadu. Its client base includes NTPC, Neyveli Lignite, Gujarat Industries Power, and private players like Adani Green, JSW Energy, Azure Power and ACME Cleantech. Vikram Solar IPO Financials On the financial front, the company reported a 36% jump in revenue to Rs 3,423 crore in FY25, while net profit surged 75% to Rs 140 crore from Rs 80 crore a year earlier. JM Financial, Nuvama Wealth Management, UBS Securities, Equirus Capital and Phillip Capital are the book-running lead managers, while Link Intime India is acting as registrar for the issue.