Vikram Solar IPO GMP Aug 18, 2025: In-Depth Analysis & Key Insights for Investors

Published On: 18/08/20252.7 min read

Vikram Solar IPO GMP Aug 18, 2025: Company Overview and Market Insights

Company Introduction

Founded in 2005 and headquartered in Kolkata, Vikram Solar Limited stands as one of India’s largest solar photovoltaic (PV) module manufacturers. With an installed capacity of 3.50 GW as of March 31, 2024, the company delivers comprehensive renewable energy solutions. Vikram Solar is known for its high technical expertise in solar PV module manufacturing, serving a significant part of the Indian and international solar markets.

Grey Market Premium (GMP) Signals for Vikram Solar IPO

The Grey Market Premium (GMP) for Vikram Solar IPO is a crucial indicator for investors gauging potential listing gains. As of August 18, 2025, the Vikram Solar IPO GMP is reported to be approximately ₹63. This GMP suggests an estimated listing gain of around 19% against the upper price band of the IPO.

It is important to note that GMP values, including related terms like Kostak (firm commitment to buy at GMP) and Subject-to-Sauda (conditional trade), operate in an unregulated market and serve as unofficial pricing signals ahead of the IPO listing.

IPO Details and Key Dates

  • Issue Open Date: August 19, 2025
  • Issue Close Date: August 21, 2025
  • Price Band: ₹315 to ₹332 per equity share
  • Lot Size: 45 shares per lot
  • Fresh Issue Size: ₹1,500 crore
  • Total IPO Size: Approx. ₹2,079 crore
  • Allotment Finalization: August 22, 2025
  • Listing Date: August 26, 2025 on NSE and BSE

Estimated Listing Price = Upper Price Band (₹332) + GMP (₹63) = ₹395 approximately.

Business & Financial Performance

For the fiscal year ending March 31, 2024, Vikram Solar reported an operating revenue of approximately ₹2,520 crore, with recent revenue reaching around ₹3,423 crore in FY 2024-25, reflecting a growth rate of roughly 36.3%. The company’s profit before tax for FY24 was ₹107.3 crore, a significant increase from the previous year’s ₹18.9 crore, illustrating improved profitability and operational scale.

Vikram Solar has also raised funding amounting to $94.1 million from notable investors, placing its valuation at around ₹4,020 crore. This financial backing supports capacity expansions and technology enhancements.

Why Investors Are Interested

  • Strong Market Position: One of India’s leading and largest solar module manufacturers.
  • Capacity Expansion: Installed capacity of over 3.5 GW with strong order book exceeding 10,340 MW.
  • Growing Renewable Energy Demand: Increasing focus on sustainability and government incentives for solar energy.
  • Robust Financial Growth: Consistent revenue growth and profitability improvement.
  • Attractive Listing Gains: GMP indicating a healthy premium, enticing retail and institutional investors.

Risks to Watch

  • Market Volatility: Grey Market Premium can fluctuate significantly before listing.
  • Competitive Industry: Intense competition from established domestic and global solar manufacturers.
  • Execution Risks: Ability to scale production effectively and manage supply chain disruptions.
  • Regulatory Changes: Any policy shifts impacting renewable energy subsidies or tariffs could affect margins.

Final Takeaway

Vikram Solar’s IPO presents a noteworthy opportunity within the renewable energy sector, backed by solid operational capabilities and promising financials. The current GMP suggests an optimistic market reception with potential listing gains. Investors keen on the sector’s growth trajectory will closely monitor its listing performance alongside other upcoming IPOs in the market.

IPO GMP Disclaimer

The Grey Market Premium (GMP) and associated subject-to-sauda and Kostak trades are unregulated and unofficial indicators of IPO demand and listing price, provided here for information only. These signals should not be construed as investment advice. Investors should conduct thorough research and consult financial advisors before participating in the IPO.

 

Latest News

Investor Education

IPO for Beginners: Understand How Initial Public Offerings Work

New to IPOs? Learn how Initial Public Offerings work, their benefits, risks, and how you can invest smartly in upcoming public companies.

Investing in an Initial Public Offering (IPO) can be an exciting opportunity for investors. IPOs offer a chance to get in on the ground floor of a company’s growth potential. This guide will provide you with the basics of IPO investment, including its benefits, risks, and why companies choose to go public.

Introduction to Mutual Funds: A Beginner’s Guide to Smart Investing

Explore how mutual funds help diversify your investments. This beginner’s guide explains types, benefits, and key tips for mutual fund investing.

Mutual funds have become a popular investment choice for individuals seeking to diversify their portfolios and achieve their financial goals. For beginners, understanding the basics of mutual funds is the first step towards making informed investment decisions.

Stock Market Basics: A Beginner’s Guide to Investing in Shares

Learn how the stock market works, why it's essential to the economy, and how you can start trading confidently as a first-time investor.

The stock market is often described as the backbone of modern economies. It’s a dynamic platform where individuals and institutions come together to trade shares of publicly listed companies. For beginners, the stock market might seem like a complex and intimidating space, but in reality, it’s a structured marketplace that fuels economic growth and provides opportunities for wealth creation.