Vikram Solar's ₹2,079cr IPO to open tomorrow: 5 key details
Vikram Solar's IPO opens August 19 and closes August 21, 2025.
The company is looking to raise ₹2,079 crore, with shares priced between ₹315-332 each and a minimum lot size of 45 shares.
The offer includes a fresh issue of up to ₹1,500 crore and an offer for sale of up to 1,74,50,882 shares by promoter and promoter group selling shareholders.
Half the issue is reserved for institutional buyers
Anchor investors have already committed ₹620.8 crore by picking up 1.87 crore shares at the top end of the price band.
The IPO is split: half for institutional buyers, at least 35% for retail investors (that's you!), and the rest for non-institutional bidders.
Money will go toward expanding green energy business
Founded in 2005, Vikram Solar makes solar panels with factories in West Bengal and Tamil Nadu—totaling an installed capacity of 3.50 GW as of March 31, 2024; recent reports mention 4.5 GW, possibly reflecting expansion.
They also handle big solar projects and maintenance across India.
Money from the IPO will help expand their green energy business through their arm VSL Green Power.
Employee reservation also included in the offer
There's an employee reservation too, plus major mutual funds are on board—nine have picked up over half the anchor book via 22 schemes.
JM Financial leads a team of five book-running managers; MUFG Intime India is registrar.
Shares are set to list on NSE and BSE on August 26, so keep an eye out!