Vikram Solar Limited
IPO Details
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₹35(10.54%)
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Following its successful public offering, Vikram Solar Limited's made its market debut on Aug 26, 2025 and is now actively traded on the NSE, BSEplatform. The IPO mobilized 6,26,31,605 Shares in total capital, including 4,51,80,723 Shares in primary equity infusion and ₹579.37 Cr in secondary share sales.
The offering was structured with a price band of ₹315 to ₹332 and minimum investment lots of 45 shares. Investor participation during the subscription window from Aug 19, 2025 to Aug 21, 2025 demonstrated market confidence in the company's prospects.
The allotment process concluded on Aug 22, 2025, allocating shares to successful bidders. The listing represents the culmination of the IPO process, transitioning the company to publicly traded status with enhanced transparency and governance standards.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
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
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Strong Brand & Customer Base: Developed through a deep understanding of customer needs and a commitment to consistent product quality.
- Advanced Manufacturing Capabilities: State-of-the-art automated facilities equipped with leading technologies from Japan, Germany, the U.S., and Switzerland.
- Robust R&D and Technical Expertise: Driven by focused research, rigorous quality control, and a highly skilled workforce.
- Raw Material Price Volatility: Fluctuations in wafer and solar cell prices may increase costs and affect profitability.
- Ongoing Legal Proceedings: Legal cases involving the company and its promoters may result in liabilities or penalties.
- Lack of Long-Term Supplier Contracts: Reliance on spot purchases increases the risk of raw material shortages.
- Gyanesh Chaudhary
- Gyanesh Chaudhary Family Trust
- Vikram Capital Management Private Limited
Vikram Solar Limited
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