August 12, 2025
admin
Vikram Solar IPO will be a book-built issue, with the exact size yet to be announced. The IPO dates and price band are also awaited, and the allotment date will be declared in due course. JM Financial Limited is acting as the book-running lead manager, while MUFG Intime India Private Limited (Link Intime) will serve as the registrar to the issue.
Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
Latest news about this IPO
What are the promoters of Vikram Solar IPO?
The promoters of the Company are KAILESH PUNAMCHAND SHAH, BHUPESH PUNAMCHAND SHAH AND NILESH PUNAMCHAND SHAH.
The promoters hold 90.98% shares in the post IPO capital of the company.
What are the Objects of Vikram Solar IPO?
The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.
The net proceeds of the Offer are proposed to be utilised in the following manner:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.
- Purchase of equipment and machinery for the Manekpur Facility; and
- General corporate purposes.
What is the business of Vikram Solar?
| IPO opens on | 19 August, 2025 |
| IPO closes on | 21 August, 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ? Shares / Rs- Crore |
| * Fresh Issue | Rs ? Crore |
| * Offer for Sale | Rs ?Crore |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. per share |
| Retail Lot Size | Shares |
| Listing will at | BSE, NSE |
How are the shares offered?
| Investor Category | Shares Offered |
| QIB | Not more than 50% of the Net Offer |
| Retail | Not less than 35% of the Net Offer |
| NII | Not less than 15% of the Net Offer |
How can the shares be applied?
| IPO opens on | 19 August 2025 |
| IPO Closes on | 21 August 2025 |
| IPO Allotment on | 22 August 2025 |
| Unblocking of Asba | 25 August 2025 |
| Credit of Shares | 25 Augut 2025 |
| Listing of Shares | 26 August 2025 |
| Registered Office of the company Vikram Solar Ltd. Biowonder, Unit No. 1102, 11th Floor, 789, Anandapur Main Road, Eastern Metropolitan Bypass, E.K.T, Kolkata, West Bengal, 700107 |
|
| Lead Managers of the IPO Jm Financial Limited Nuvama Wealth Management Limited Ubs Securities India Private Limited Equirus Capital Private Limited PhillipCapital India Private Limited |
|
| Registrar to IPO | |
| Mufg Intime India Pvt Limited |
Financial Snpshot
| Period Ended | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
| Assets | 2,585.50 | 2,476.29 | 2,237.23 |
| Total Income | 2,523.96 | 2,091.91 | 1,743.05 |
| Profit After Tax | 79.72 | 14.49 | -62.94 |
| Net Worth | -0.1 | -0.08 | -0.06 |
| Reserves and Surplus | 445.42 | 106.37 | 92.46 |
| Total Borrowing | 0.1 | 0.09 | 0.07 |
| Amount in Rs. Crore | |||
Key Performance Indicators
How Vikram Solar IPO compares with the Peers?
Peer Comparison.
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Vikram Solar IPO Review by Paresh Gordhandas, CA & Research Analyst
Will update soon
Vikram Solar Limited, incorporated in 2005, is a leading manufacturer of high-efficiency solar photovoltaic (PV) modules. The company also offers Engineering, Procurement, and Construction (EPC) services for solar power projects and provides Operations & Maintenance (O&M) services to enhance plant efficiency. It serves both domestic and international markets.
TThe company’s portfolio includes advanced PV modules such as p-type monocrystalline PERC, n-type monocrystalline TOPCon, and n-type monocrystalline HJT modules. These are available in bifacial (glass-to-glass / glass-to-transparent back sheet) and monofacial (glass-to-white/black back sheet) formats.
Vikram Solar operates manufacturing units at Falta SEZ in Kolkata, West Bengal, and Oragadam in Chennai, Tamil Nadu.
The company’s domestic clients include government entities like NTPC, Neyveli Lignite Corporation, and Gujarat Industries Power Company, along with private IPPs such as ACME Cleantech Solutions
