Vikram Solar IPO: Price band set at ₹315-332 per share; check GMP, issue details, more
The floor price is 31.50 times the face value of the equity shares and the cap price is 33.20 times the face value of the equity shares. The Vikram Solar IPO lot size is 45 equity shares and in multiples of 45 equity shares thereafter.
Vikram Solar IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has equity shares aggregating up to ₹ 100 million.
Tentatively, Vikram Solar IPO basis of allotment of shares will be finalised on Friday, August 22 and the company will initiate refunds on Monday, August 25 while the shares will be credited to the demat account of allottees on the same day following refund. Vikram Solar share price is likely to be listed on BSE and NSE on Tuesday, August 26.
Vikram Solar IPO comprises a fresh issue of 4.52 crore shares valued at ₹ 1,500 crore, along with an offer for sale comprising 1.75 crore shares totaling ₹ 579.37 crore from promoters Gyanesh Chaudhary, Vikram Capital Management, and Anil Chaudhary.
The funds raised from the new issue will be utilized for partially funding the capital expenditures for both Phase-I and Phase-II of the project. On the other hand, the proceeds from the selling shareholders will be retained by them.
At present, the promoters hold a 77.64% stake in the company, while the remaining 22.36% of the shares are owned by the public, including Arpit Khandelwal from Plutus Wealth Management.
Vikram Solar IPO GMP today is +70. This indicates Vikram Solar share price were trading at a premium of ₹ 70 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vikram Solar share price was indicated at ₹ 402 apiece, which is 21.08% higher than the IPO price of ₹ 332.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Vikram Solar is a manufacturer of solar photovoltaic modules with 16 years of industry experience. As of March 31, 2025, the company has established a manufacturing capacity of 4.5 GW for solar PV modules and holds an order book amounting to 10,340.8 MW.
For the fiscal year ending March 31, 2025, the company posted a net profit of ₹ 139.83 crore and generated revenue of ₹ 3,459.53 crore. During the financial year 2024-25, its net profit was ₹ 79.72 crore, with revenue totaling ₹ 2,523.96 crore.
As per the red herring prospectus (RHP), the company's peers are Waaree Energies Ltd (with a P/E of 45.79), Premier Energies Ltd (with a P/E of 47.01), and Websol Energy System Ltd (with a P/E of 40.04).
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