Markets / IPO / Vikram Solar

Vikram Solar IPO

Updated 18:57

Mainboard IPO on NSE and BSE · Other Electrical Equipment

Status
Listed
Price band
₹315–332
Lot size
45 shares · ₹14,940
Subscribed
54.63×

How it listed

Issue price
₹332
Listing price (open)
₹338.00 +1.81%
First-day close
₹356.40 +7.35%
Price now
₹142.39 -57.11%
Listing day26 Aug 2025
Open / high / low / close₹338.00 / ₹381.65 / ₹333.65 / ₹356.40
Shares traded on NSE6,69,91,042
Market value at the listing-day close₹12,914 cr

Closing prices since listing: 26 Oct ₹128.38, 27 Oct ₹130.47, 28 Oct ₹127.55, 29 Oct ₹128.00, 30 Oct ₹125.29, 2 Nov ₹132.67, 3 Nov ₹129.37, 4 Nov ₹134.96, 5 Nov ₹139.67, 6 Nov ₹143.36.

Vikram Solar share price, live chart and technicals →

Key dates

Bidding opens19 Aug 2025
Bidding closes21 Aug 2025
Allotment22 Aug 2025
Refunds and shares in demat25 Aug 2025
Listing26 Aug 2025

Issue reservation

Investor groupShares% of issueMost applicants allotted
Institutions (QIB)1,26,67,95427.93%–
HNI / NII97,12,87121.41%–
  HNI, above ₹10 lakh64,75,24814.27%2,147
  HNI, ₹2–10 lakh32,37,6237.14%5,139
Retail2,26,63,36549.96%5,03,630
Employees3,17,4600.70%–

Shares NSE lists as offered to each group, plus the anchor portion. "Most applicants allotted" is how many people can get the minimum application in that group when it is oversubscribed.

Lot size by investor type

ApplicationLotsSharesAmount
Retail (minimum)145₹14,940
Retail (maximum)13585₹1,94,220
Small HNI (minimum)14630₹2,09,160
Small HNI (maximum)662,970₹9,86,040
Big HNI (minimum)673,015₹10,00,980

At ₹332 a share. Retail bids go up to ₹2 lakh, small HNI from ₹2 lakh to ₹10 lakh, big HNI above ₹10 lakh.

Chance of getting shares (retail)

Chance
At least 1 in 8
Retail allotments available
5,03,630 × one lot
Retail portion subscribed
7.65×

An estimate from the times the retail portion was subscribed, as if every applicant bid for the minimum. Many bid for more lots, so the real chance is usually better. Winners are picked by lottery and each gets the minimum (one lot).

Subscription

Investor categoryShares offeredShares bid forTimes subscribed
Institutions (QIB)1,26,67,9541,80,88,16,760142.79×
HNI / NII97,12,87149,43,81,25050.90×
  HNI, above ₹10 lakh64,75,24837,13,60,29557.35×
  HNI, ₹2–10 lakh32,37,62312,30,20,95538.00×
Retail2,26,63,36517,34,22,8457.65×
Employees3,17,46015,37,1104.84×
Total4,53,61,6502,47,81,57,96554.63×

NSE and BSE bids together, as of 21 Aug 2025 19:00.

Demand at each price

Top price ₹33223,355.64 lakh shares94.2%
Cut-off final price, whatever it is; mostly retail1,425.37 lakh shares5.7%
Lower prices ₹315–3319.20 lakh shares0.0%

Shares bid on NSE and BSE at each price in the band. Most bids at the top price, and little at lower prices, means buyers were keen.

Anchor investors

Anchor bid date18 Aug 2025
Lock-in ends for the first 50% (30 days)20 Sept 2025
Lock-in ends for the remaining 50% (90 days)19 Nov 2025

Anchor investors are large funds that buy the day before the IPO opens. SEBI locks in half their shares for 30 days from the allotment and the rest for 90 days; they can sell from the next trading day. Traders watch these dates because extra selling can come in.

Financials and valuation

At issue priceNow
Market value₹12,030 cr₹5,160 cr
P/E (last 12 months' profit)33.714.5
Revenue, last 12 months₹5,232 cr
Profit, last 12 months₹357 cr
Return on equity11.3%
Debt to equity0.03

From results the company filed with NSE (latest period to 30 Jun 2026). Twelve-month figures need four quarters of results, so they fill in over the first year after listing.

Other recent IPOs: Other Electrical Equipment

CompanyListedSubscribedOn listingSince IPO
Himalayan Solar SME5 Oct–-17.48%-18.45%
Vivid Electromech SME7 Apr–+1.80%+92.36%
Fujiyama Power Systems 20 Nov2.14×-3.51%+54.30%
Emmvee Photovoltaic Power 18 Nov0.97×0.00%+15.81%
Mangal Electrical Industries 28 Aug9.46×-0.89%-54.50%
Parth Electricals & Engineering SME11 Aug–+2.35%+199.94%
Smarten Power Systems SME14 Jul–+44.00%-20.95%
Eppeltone Engineers SME24 Jun–+90.00%-2.19%

IPO details

Price band₹315–332
Final issue price₹332
Lot size45 shares
Minimum investment₹14,940 (1 lot)
MarketNSE mainboard
Issue type100% Book Building
Face value₹10 per Equity Share
IndustryOther Electrical Equipment
Issue size₹2,079.37 crore (about 6.26 crore shares) · Fresh issue + offer for sale: fresh ₹1,500.00 cr, offer for sale ₹579.37 cr
ISININE078V01014
RegistrarMUFG Intime India Private Limited
Helpline: +91 22 4918 6200, vikramsolar.ipo@in.mpms.mufg.com
Lead managersJM Financial Limited, Nuvama Wealth Management Limited, UBS Securities India Private Limited, Equirus Capital Private Limited and PhillipCapital (India) Private Limited
ProspectusRed herring prospectus (NSE)

Check allotment status

Allotment was finalised on 22 Aug 2025. Check it on the registrar's page (MUFG Intime India Private Limited), NSE or BSE with your PAN or application number.

← All IPOs: open, upcoming and recently listed

From NSE's official IPO data. Expected dates follow SEBI's T+3 timetable; the exchange confirms them. Information only, not investment advice.

What is the Vikram Solar IPO price band and lot size?

The price band is ₹315–332 per share, and one lot is 45 shares (₹14,940 at the upper price).

When is the Vikram Solar IPO allotment date?

Allotment was finalised on 22 Aug 2025, the next working day after bidding closed on 21 Aug 2025.

How many times was the Vikram Solar IPO subscribed?

In total 54.63 times, on NSE and BSE together; retail 7.65 times.

What is the Vikram Solar IPO listing date?

It listed on 26 Aug 2025 on NSE and BSE.

What is the chance of getting Vikram Solar IPO shares?

At least 1 in 8 retail applicants got the minimum lot: 5,03,630 retail allotments with the retail portion subscribed 7.65 times. Winners are picked by lottery.

When does the Vikram Solar anchor lock-in end?

The 30-day lock-in on half of the anchor investors' shares ends on 20 Sept 2025 and the 90-day lock-in on the rest ends on 19 Nov 2025; they can sell from the next trading day.

What was the Vikram Solar listing gain?

It opened at ₹338.00 against an issue price of ₹332, a gain of 1.81%. It is now down 57.11% from the issue price.