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VIKRAMSOLREQ / NSE, BSEListed
Vikram Solar

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

₹315 - ₹33256.41x sub
Listed Price₹338.00
Listing Gain+1.81%

IPO Schedule & Timeline

Bookbuilding IPO
Open19 Aug 2025
Close21 Aug 2025
Allotment22 Aug 2025
Listing26 Aug 2025

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Retail2,18,15,640 shares
34.83%
Nii(hni)93,49,560 shares
14.93%
QIB1,24,66,080 shares
19.9%
Employees3,01,205 shares
0.48%

Minimum Application Lots

Retail1 Lot (45 shares)
₹14,940
sHNI14 Lots (630 shares)
₹2,09,160
bHNI67 Lots (3,015 shares)
₹10,00,980

Company Promoters

Gyanesh ChaudharyGyanesh Chaudhary Family TrustVikram Capital Management Private Limited

Company Background

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 Co...

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Mar-25)₹3459.52 Cr
Growth+65.4%
Revenue Trend (₹ in Crores)
0.01.3k2.7k4.0kMar-23Mar-24Mar-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Mar-253,459.52139.832,832.15230.66
Mar-242,523.9679.722,585.50808.33
Mar-232,091.9114.492,476.29737.78

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Mar-254.6116.57%24.49%00
Mar-243.0819.67%20.76%00
Mar-230.564.05%12.78%00

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Link Intime India Private Limited

Allotment Finalized
Allotment Date
22 Aug 2025
Official Status
Out / Finalized
Registrar
Link Intime India Private Limited
Listing Date
26 Aug 2025

Official Allotment Verification Links

Official Registrar Portal
Link Intime India Private Limited

Direct allotment verification on the official registrar portal appointed for Vikram Solar. Check with PAN or Application No.

Check on Registrar Portal
Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization22 Aug 2025Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date26 Aug 2025Trading commences on exchange

How to Check Vikram Solar Allotment Online

1Open Portal

Click on the official registrar link or BSE portal button above.

2Select Company

Select Vikram Solar from the issue drop-down list.

3Enter Details

Select PAN, Application No., or DP Client ID and type your details.

4View Allocation

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Prospectus & Official Filings

Allotment FAQs & Help

About Vikram Solar IPO

Complete issue overview for Vikram Solar (VIKRAMSOLR) IPO. The issue features an equity share price band of ₹315 – ₹332 per share with a minimum retail lot size of 45 Shares (minimum application amount of ₹14,940). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions