Vikram Solar IPO Day 1, Vikram Solar IPO Details: The Rs 2,079.37-crore initial public offering (IPO) of Vikram Solar has been subscribed 1.29 times so far on the first day of bidding, Tuesday, August 19.
According to BSE data, the issue received bids for 5.86 crore shares against 4.53 crore shares on offer as of 3:57 pm.
Category-wise, non-institutional investors (NIIs) showed the highest interest, with 3.11 times subscription. In contrast, qualified institutional buyers (QIBs) subscribed just 2 per cent of their quota. The retail investor portion was subscribed 1.24 times.
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Vikram Solar IPO details
- Subscription dates: The IPO opened on August 19, 2025, and it will conclude on August 21, 2025.
- It consists of a fresh issue of Rs 1,500 crore and an offer for sale (OFS) of Rs 579 crore.
- Price band: The company has fixed the price band between Rs 315 and Rs 332 per share, with investors able to bid in lots of 45 shares and multiples thereafter.
- Anchor investor details: Prior to its IPO launch, the company raised Rs 620.8 crores from anchor investors on Monday, August 18.
- IPO fund utilisation: The company plans to deploy the fresh issue proceeds primarily toward capacity expansion as follows:
– Rs 769.7 crore for Phase-I investment in VSL Green Power
– Rs 595.2 crore for Phase-II investment in the same subsidiary
– Rs 135.1 crore for general corporate purposes
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What does Vikram Solar do?
Vikram Solar is one of India’s largest solar PV module manufacturers, with 4.50 GW installed capacity. It has more than 17 years of industry experience and is expanding aggressively into:
- Solar PV modules – aiming for 20.50 GW capacity by FY27
- Solar cells – setting up 12 GW in Tamil Nadu by FY27
- Battery Energy Storage Systems (BESS) – greenfield project starting at 1 GWh, expandable to 5 GWh by FY27
