31 Mar 2023
Assets2,476.29
Total Income2,091.91
EBITDA186.18
Profit After Tax14.49
NET Worth365.20
Reserves and Surplus113.07
Total Borrowing737.79
At a glance
Updated 2026-08-24The shares listed at ₹338.00, a 1.81% move from the issue price. Vikram Solar is a Mainboard IPO with an issue size of ₹2,079.37 crore, proposed for listing on BSE, NSE. The offer opens on 19th Aug 2025 and closes on 21st Aug 2025. The issue structure includes a fresh issue of ₹1,500.00 crore and an offer-for-sale component of ₹579.37 crore. The current listing schedule points to 26th Aug 2025.
Issue details
Listing atBSE, NSE
Issue typeBook Build Issue
Issue size₹2,079.37 Cr
Fresh issue₹1,500.00 Cr
Offer for sale₹579.37 Cr
Face value₹10
Price band₹315.00–₹332.00
Allotment22nd Aug 2025
Listing26th Aug 2025
Listing performance
Full performance ↗Issue price₹332.00
Listing price₹338.00
Current price—
Listing gain1.81%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹35.00
GMP / upper price10.54%
Est. listing₹367.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens19th Aug 2025
Closes21st Aug 2025
Allotment22nd Aug 2025
Refund25th Aug 2025
Demat25th Aug 2025
Listing26th Aug 2025
Subscription demand
Full bidding ↗Total56.42×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 45 | ₹14,940 |
Company
Incorporated2005
Use of proceeds
| Object | Amount |
|---|---|
| Partial funding of capital expenditure for the Phase-I Project. | ₹769.73 Cr |
| Funding of capital expenditure for the Phase-II Project | ₹595.21 Cr |
| General Corporate Purposes | ₹49.55 Cr |
| Issue Expenses | ₹119.76 Cr |
| Total | ₹1,534.24 Cr |
Financials
Full financials ↗31 Mar 2024
Assets2,585.50
Total Income2,523.96
EBITDA398.58
Profit After Tax79.72
NET Worth445.42
Reserves and Surplus192.16
Total Borrowing808.33
31 Mar 2025
Assets2,832.15
Total Income3,459.53
EBITDA492.01
Profit After Tax139.83
NET Worth1,241.99
Reserves and Surplus932.60
Total Borrowing230.67
Trend chart₹ crore
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 16.57% |
| ROCE | 24.49% |
| Debt / Equity | 0.19% |
| RoNW | 11.26% |
| PAT Margin | 4.08% |
| EBITDA Margin | 14.37% |
| Price to Book Value | 8.46 |
Valuation & shareholding
Pre-IPO EPS4.42
Post-IPO EPS3.87
Pre-IPO P/E75.16
Post-IPO P/E85.88
Promoter holding pre77.64%
Promoter holding post63.11%
Market cap₹12009.01 Cr.
Issue expenses
| Expense | Amount |
|---|---|
| Partial funding of capital expenditure for the Phase-I Project. | ₹769.73 Cr |
| Funding of capital expenditure for the Phase-II Project | ₹595.21 Cr |
| General Corporate Purposes | ₹49.55 Cr |
| Issue Expenses | ₹119.76 Cr |
| Total | ₹1,534.24 Cr |
Registrar & lead managers
Registrar
MUFG Intime India Pvt.Ltd.Lead managers
- Location
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-08-24.