Vikram Solar share price made a modest debut in the Indian stock market today. Vikram Solar shares were listed at ₹340.00 apiece on the BSE, a premium of 2.41% to the issue price of ₹332 per share.
On NSE, Vikram Solar shares were listed with a 1.81% premium at ₹338.00 per share.
Vikram Solar IPO listing price was lower than the Street estimates as indicated by the trends for grey market premium (GMP). Vikram Solar IPO GMP today signaled the debut at around 11% premium to the issue price.
Harshal Dasani Business Head, INVasset PMS said that the robust institutional appetite reflects confidence in Vikram Solar’s positioning as one of India’s largest integrated solar module manufacturers with a growing EPC footprint.
“While near-term listing gains look promising, the sustainability of performance will depend on execution discipline, margin expansion, and supportive policy frameworks. For investors, the Vikram Solar IPO offers tactical upside, but medium- to long-term positioning requires a measured allocation strategy,” said Dasani.
Vikram Solar IPO Details
The initial public offering (IPO) of the solar photo-voltaic (PV) modules manufacturer Vikram Solar Ltd was open for subscription on August 19 to August 21. The IPO allotment was finalised on August 22, and Vikram Solar IPO listing date was today, 26 August 2025, Tuesday.
Vikram Solar IPO received strong demand from investors as the issue was subscribed 54.63 times in total, NSE data showed. The public issue was subscribed 7.65 times in the retail category, and 142.79 times in the Qualified Institutional Buyers (QIBs) category. The Non Institutional Investors (NII) category received 50.90 times subscription.
The company raised ₹2,079.37 crore from the public issue which was a combination of fresh issue of 4.52 crore equity shares worth ₹1,500 crore and offer for sale of 1.75 crore shares amounting to ₹579.37 crore. Vikram Solar IPO price band was set at ₹315 to ₹332 per share.
The company proposes to utilise the funds raised to support new capacity additions and greenfield expansions, including a 3 GW solar cell and module facility under development, positioning the company to capitalise on both domestic renewable demand and export opportunities.
JM Financial Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the Vikram Solar IPO registrar.
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