Vikram Solar IPO

Vikram Solar is launching an IPO worth Rs 2,079.37 crores through a bookbuilding process, comprising a fresh issue of shares worth Rs 1,500.00 crores and an offer for sale of Rs 579.37 crores. The IPO will open for subscription from August 19 to August 21, 2025, with allotment on August 22 and a tentative listing on BSE and NSE on August 26. The price band is set between Rs 315 to Rs 332 per share, with a lot size of 45 shares requiring a minimum retail investment of Rs 14,175. For sNII, the investment size is 14 lots (Rs 2,09,160), and for bNII, it is 67 lots (Rs 10,00,980). JM Financial is the lead manager, and MUFG Intime India is the registrar.

Vikram Solar IPO Details

Check out the issue details for Vikram Solar IPO as disclosed in SEBI.

Price Band

₹ 315 - 332

Issue Size

2079.37 Cr.

Issue Type

Book Built

Open

2025-08-19

Close

2025-08-21

CMP

Not Issued

Company Financials

You can get the following financial statements of Vikram Solar as of now.

Vikram Solar IPO Details

The details about the Vikram Solar IPO are as follows:

  • The issue size of the IPO is Rs 2,079.37 Cr.
  • The price band for Vikram Solar IPO is Rs 315 to Rs 332.
  • The shares of Vikram Solar IPO will list on BSE and NSE.
  • The latest tentative GMP of Vikram Solar IPO is Rs .
  • The shares of Vikram Solar IPO are subscribed _ Times.

 

Vikram Solar IPO Valuation

The approximate valuation of Vikram Solar IPO based on its price band and RHP is:

Particulars Value
Upper Price Band Rs 332
Existing Shares (Qty) 31.65 Cr
Fresh Issue Rs 1,500.00 Cr
Market Cap Rs 12,007.8
EPS (FY25) Rs 4.61
PE Ratio 72.01x
Industry PE 44.28x

 

Vikram Solar IPO Issue Size

Vikram Solar IPO issue size is Rs 2,079.37 Cr.

Issue Amount
Fresh Issue Rs 1,500.00 Cr
Offer For Sale Rs 579.37 Cr

 

Vikram Solar IPO Market Lot

An individual can apply for a minimum of 1 lot of 45 shares and a maximum of 13 lots (585 shares). Find the details below:

Application Lot Shares Amount
Retail Minimum 1 45 Rs 14,940
Retail Maximum 13 585 Rs 1,94,220

 

Vikram Solar IPO Share Offer

The shares of Vikram Solar IPO are subscribed _ Times. The category-wise shares offered are as follows:

Category % Offered
Qualified Institutional Not more than 50%
Non-Institutional Not less than 15%
Retail Individual Not less than 35%

 

Vikram Solar IPO GMP (Grey Market Premium)

As on GMP (Tentative)
13 August 2025 Rs

Vikram Solar IPO GMP is purely for informational purposes. Invest in an IPO after thoroughly researching on your own.

Vikram Solar IPO Dates

Find below the dates for Vikram Solar IPO

Schedule Date
Basis of Allotment 22 Aug 2025
Refunds 25 Aug 2025
Credit to Demat Account 25 Aug 2025
IPO Listing Date 26 Aug 2025

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Net Sales 1530.44 1576.59 1700.47 2006.48 2440.82
Total Expenditure 1413.89 1402.31 1647.35 1824.64 2049.04
Operating Profit 116.55 174.28 53.12 181.85 391.78
Other Income 24.58 17.69 12.82 20.13 15.26
Interest 94.89 99.45 102.87 123.44 157.17
Depreciation 36.72 38.75 47.92 63.92 137.99
Exceptional Items 0 0 0 0 -11.64
Profit Before Tax 9.52 53.77 -84.86 14.62 100.24
Provision for Tax 3.48 16.63 -24.72 1.92 33.43
Net Profit 6.04 37.14 -60.14 12.7 66.82
Adjusted EPS (Rs.) 0.02 0.14 -0.23 0.05 0.26

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity and Liabilities
Share Capital 27.93 23.53 258.83 258.83 258.83
Total Reserves 349.88 400.83 107.98 128.68 201.51
Borrowings 187.1 229.63 263.93 214.23 198.68
Other N/C liabilities 122.38 123.63 139.14 595.06 527.93
Current liabilities 975.95 1015.56 1452.72 1248.75 1410.96
Total Liabilities 1663.23 1793.18 2222.6 2445.54 2597.92
Assets
Net Block 356.38 381 541.6 627.05 492.62
Capital WIP 10.91 66.06 2.94 7.3 12.67
Intangible WIP 0 0.49 0.63 0.73 0
Investments 28.2 27.64 30.97 34.94 43.61
Loans & Advances 75.36 65.69 9.49 55.82 64.48
Other N/C Assets 1.39 18.51 57.9 4.77 4.55
Current Assets 1190.99 1233.79 1579.06 1714.93 1979.99
Total Assets 1663.23 1793.18 2222.6 2445.54 2597.92
* Other Non-current Liabilities include Net deferred Liabilities

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Profit from operations 9.52 53.77 -84.86 14.62 100.24
Adjustment 135.18 114.81 150.99 178.83 365.28
Changes in Assets & Liabilities 90.16 -157.64 149.39 -17.97 -285.34
Tax Paid -3.92 8 -8.09 -2.1 -9.7
Operating Cash Flow 230.94 18.94 207.43 173.37 170.48
Investing Cash Flow -37.89 -50.76 -157.46 -88.7 -82.02
Financing Cash Flow -174.32 5.39 -36.22 -100.49 -81.03
Net Cash Flow 18.74 -26.43 13.75 -15.82 7.44
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