Vikram Solar, a leading Indian company (if you have never heard, it makes solar panels – PV modules), is now a public company via an IPO. You can buy its shares starting today, August 19, 2025, and the offering will close on August 21, 2025. The IPO is valued at ₹2,079 crore. The company is issuing both fresh and equity shares. Notably, the stock is enjoying a premium of 16% in the grey market. In simple words, the investors are showing great interest in the share. Well, does that mean it’s a good investment for you? So, here’s everything you need to know before you become a shareholder of the company.
Size of the IPO
The total size of the IPO is ₹2,079 crore. About ₹1,500 crore consists of new shares, which means the money will go directly to the company.
The remaining ₹579 crore is for sale, meaning the existing shareholders of the company are selling their shares and will take away the proceeds (money).
Additionally, promoters are also selling in an offer for sale (OFS), including:
- Gyanesh Chaudhary
- Vikram Capital Management
- Anil Chaudhary
The price band stands at: ₹315 to ₹332 per share. Let’s say the company sold all its shares at 332 (upper end price), it will comfortably reach the targeted ₹2,079 crore.
The lot size offered: Minimum is 45 shares.
Important Dates: Opened Today (August 19, 2025) → Closes Thursday (August 21, 2025).
What’s the Grey Market Talking About, Vikram Solar?
So, before officially listing the shares, companies (usually) trade their shares in a place called the “grey market.” Here, Vikram Solar’s stock is seemingly receiving a good response. Notably, its stock is trading at 16% higher than the issue price, which indicates that investors are very interested.
Breakdown of Allocation of Shares (Who Can Buy)
Now, this piece of information is important for the general public so they can plan their investments in advance. Take a look:
- About 50% are secured for large organizations (more specifically, like Qualified Institutional Buyers, such as banks).
- 35% is set aside for retail investors (meaning the general public).
- And the remaining 15% for the rich people (High Net Worth Individuals). Note that the shares are listed on both BSE and NSE.
Company’s Background
Vikram Solar is certainly one of the biggest solar panel manufacturers in the country. The company serves big companies like Adani Green, JSW Energy, Azure Power, ACME, and more. In FY25, the company made a revenue of ₹3,423 crore (operating profit of ₹492 crore and net profit of ₹140 crore).
What Is the Company Aiming at With These Funds?
- It has plans to expand its electricity capacity → 15.5 GW by FY26 and 20.5 GW by FY27.
- Not only does it want to sell solar panels, but it also wants to manufacture solar cells.
- Aims to invest in battery energy storage systems (BESS).
Should You Subscribe?
SBI Securities says yes for these reasons:
- Seemingly, the profits will go up once the company starts manufacturing solar cells because they are the future of clean, renewable, and CO2-free energy.
- The Indian government strongly supports solar project schemes like PM Surya Ghar Muft Bijli Yojana, PM Kusum, and solar for industries.
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