
The Vikram Solar IPO is set to open in 2025 and will close in the same year. This IPO is a Book Built Issue, through which the company aims to raise approximately ₹[.] crores. The issue consists of a fresh issue of ₹1,500 crores and an offer for sale of up to 17,450,882 equity shares, each with a face value of ₹10.
The price band for the Vikram Solar IPO is ₹[.] to ₹[.] per share. The retail quota is 35%, the Qualified Institutional Buyer (QIB) quota is 50%, and the High Net-worth Individual (HNI) quota is 15%. The IPO will be listed on the BSE and NSE in 2025, with the allotment date scheduled for the same year.
In terms of financial performance, Vikram Solar reported a revenue of ₹2,523.96 crores in 2024, compared to ₹2,091.91 crores in 2023. The company’s profit for 2024 stood at ₹79.72 crores, a significant increase from ₹14.49 crores in 2023. Given the positive financial growth, investors are encouraged to consider applying for the IPO with a long-term perspective.
Vikram Solar IPO Details
- IPO Open Date: 2025
- IPO Close Date: 2025
- Face Value: ₹10 per equity share
- IPO Price Band: ₹[.] to ₹[.] per share
- Issue Size: Approximately ₹[.] crores
- Fresh Issue: Approximately ₹1,500 crores
- Offer for Sale: Approximately 17,450,882 equity shares
- Issue Type: Book Built Issue
- IPO Listing: BSE & NSE
- Retail Quota: Up to 35%
- QIB Quota: Up to 50%
- NII Quota: Up to 15%
- DRHP Draft Prospectus: [Click Here]
- RHP Draft Prospectus: [Click Here]
Vikram Solar IPO Market Lot
The minimum market lot for the Vikram Solar IPO is [.] shares with an application amount of ₹[.]. Retail investors can apply for up to 13 lots, totaling [.] shares with an application amount of ₹[.].
Application Type | Lot Size | Shares | Amount |
---|---|---|---|
Retail Minimum | 1 | – | ₹[.] |
Retail Maximum | 13 | – | ₹[.] |
S-HNI Minimum | 14 | – | ₹[.] |
B-HNI Minimum | 68 | – | ₹[.] |
Vikram Solar IPO Dates
The Vikram Solar IPO will open in 2025 and close in 2025. The allotment of shares will be finalized in 2025, with the IPO listing scheduled for 2025.
- IPO Open Date: 2025
- IPO Close Date: 2025
- Basis of Allotment: 2025
- Refunds: 2025
- Credit to Demat Account: 2025
- IPO Listing Date: 2025
Promoters of Vikram Solar IPO
The promoters of Vikram Solar are Gyanesh Chaudhary, the Gyanesh Chaudhary Family Trust, and Vikram Capital Management Private Limited.
About Vikram Solar IPO
Vikram Solar Limited, founded in 2009, is recognized as one of the leading manufacturers of solar panels in India. The company has a significant operational capacity, producing solar photovoltaic (PV) modules that contribute to the country’s transition to renewable energy. Initially starting with a 12 MW manufacturing capacity, Vikram Solar has grown to an impressive 3.50 gigawatts (GW).
The company focuses on a wide range of solar products, including solar panels, inverters, and cleaning systems. This diverse product range allows Vikram Solar to test the performance of its solar panels and assess the quality of other equipment, such as inverters and robotic cleaners.
Vikram Solar’s revenue for 2024 is ₹25,109.90 million. To meet growing market demand, the company plans to expand its production capacity to 10.50 GW by FY26 and 15.50 GW by FY27. This expansion includes the construction of a 3 GW solar cell manufacturing plant in Tamil Nadu.
Vikram Solar IPO Company Financial Report
Vikram Solar reported a revenue of ₹2,523.96 crores in 2024, up from ₹2,091.91 crores in 2023. The company also saw a significant increase in profit, reporting ₹79.72 crores in 2024, compared to ₹14.49 crores in 2023.
Period Ended | Revenue (₹ in Crores) | Expense (₹ in Crores) | Profit After Tax (₹ in Crores) | Assets (₹ in Crores) |
---|---|---|---|---|
2022 | ₹1,743.05 | ₹1,822.49 | ₹62.94 | ₹2,237.23 |
2023 | ₹2,091.91 | ₹2,073.04 | ₹14.49 | ₹2,476.29 |
2024 | ₹2,523.96 | ₹2,405.04 | ₹79.72 | ₹2,585.50 |
Vikram Solar IPO Valuation – FY2024
Here are the key financial metrics for Vikram Solar IPO, including Earnings Per Share (EPS), Price/Earnings (P/E) Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV):
KPI | Values |
---|---|
ROE (Return on Equity) | 19.67% |
ROCE (Return on Capital Employed) | 20.76% |
EBITDA Margin | 15.87% |
PAT Margin | 3.17% |
Debt to Equity Ratio | 1.81 |
Earnings Per Share (EPS) | ₹3.08 (Basic) |
Price/Earnings (P/E) Ratio | N/A |
Return on Net Worth (RoNW) | 17.90% |
Net Asset Value (NAV) | ₹17.21 |
Peer Group Comparison
Here is a comparison of Vikram Solar with its peers in the industry:
Company | EPS | P/E Ratio | RoNW (%) | NAV | Income |
---|---|---|---|---|---|
Premier Energies Limited | ₹6.93 | 191.48 | 35.06 | ₹15.63 | ₹3,171.31 Cr. |
Websol Energy System Limited | ₹(29.99) | N/A | (112.29) | ₹26.70 | ₹26.81 Cr. |
Objects of the Issue
The funds raised will be utilized for the following purposes:
- Partial Funding of Capital Expenditure: Investment in our wholly owned subsidiary, VSL Green Power Private Limited, to support the establishment of an integrated 3,000 MW solar cell and 3,000 MW solar module manufacturing facility at the Project Site located at Plot No. A-5, A-6, A-7, & A-10, SIPCOT Industrial Complex, Gangaikondan, District Tirunelveli 627 352, Tamil Nadu (“Phase-I Project”).
- Expansion of Manufacturing Capacity: Investment in VSL Green Power Private Limited to expand the solar module manufacturing capacity from 3,000 MW to 6,000 MW at the Project Site under the Phase-II Project.
- General Corporate Purposes: To meet general corporate requirements.
Vikram Solar IPO Review
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Vikram Solar IPO Registrar
- Registrar: Link Intime India Private Limited
- Phone: +91 22 4918 6200
- Email: vikramsolar.ipo@linkintime.co.in
- Website: Link Intime IPO Information
IPO Lead Managers (Merchant Bankers)
- JM Financial Limited
- Nuvama Wealth Management Limited
- UBS Securities India Private Limited
- Equirus Capital Private Limited
- PhillipCapital (India) Private Limited
Company Address
Vikram Solar Limited
Biowonder, Unit No. 1102,
11th Floor, 789 Anandapur Main Road,
Eastern Metropolitan Bypass, E.K.T,
Kolkata – 700107, West Bengal, India
- Phone: +91 33 2442 7399 / +91 33 2442 7299
- Email: secretarial@vikramsolar.com
- Website: www.vikramsolar.com
Vikram Solar IPO FAQs
What is the Vikram Solar IPO?
The Vikram Solar IPO is a Mainboard IPO through which the company plans to raise ₹[.] Crores. The issue is priced between ₹[.] and ₹[.] per equity share, and it will be listed on BSE and NSE.
When will the Vikram Solar IPO open for subscription?
The IPO will open for subscription in 2025 for QIB, NII, and Retail Investors. The subscription will close in 2025.
What is the investor portion for the Vikram Solar IPO?
The investor portion is allocated as follows:
- QIB (Qualified Institutional Buyers): 50%
- NII (Non-Institutional Investors): 15%
- Retail Investors: 35%
How can I apply for the Vikram Solar IPO?
You can apply for the Vikram Solar IPO through ASBA online via your bank account. Alternatively, you can apply through UPI via your stock broker or by filling out an offline form with your stock broker.
What is the issue size of the Vikram Solar IPO?
The issue size of the Vikram Solar IPO is ₹[.] crores.
What is the price band of the Vikram Solar IPO?
The price band for the Vikram Solar IPO is ₹[.] to ₹[.].
What is the lot size for the Vikram Solar IPO?
The minimum bid for the Vikram Solar IPO is [.] shares with an amount of ₹[.].
When is the Vikram Solar IPO allotment date?
The allotment date for the Vikram Solar IPO is in 2025.
When is the Vikram Solar IPO listing date?
The listing date for the Vikram Solar IPO is in 2025. The IPO will be listed on both BSE and NSE.