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Vikram Solar Ltd. IPO
IPO Timeline
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19 Aug 2025Bidding Starts
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21 Aug 2025Bidding Ends
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22 Aug 2025Allotment Finalization
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26 Aug 2025Listing
About Vikram Solar Ltd.
We are one of India’s largest solar photo-voltaic (“PV”) modules manufacturers in terms of operational capacity, with more than 17 years of experience in the industry (Source: CRISIL Report). As of the date of this Red Herring Prospectus, we have two solar PV module manufacturing facilities located in West Bengal and in Tamil Nadu with 4.50 GW of installed manufacturing capacity, which makes us one of the largest pure play module manufacturers in India, with an enlisted capacity of 2.85 GW in the Ministry of New & Renewable Energy’s Approved List of Modules and Manufacturers as of June 30, 2025
Vikram Solar Ltd. IPO Reservation
| Investors Category | Shares Offered |
|---|---|
| Anchor Investors | 1,86,99,120 (29.86%) |
| Employee Reserved | 3,01,205 (0.48%) |
| Non Institutional Investors | 93,49,560 (14.93%) |
| Qualified Institutional Buyers (QIBs) | 1,24,66,080 (19.9%) |
| Retail Individual Investors (RIIs) | 2,18,15,640 (34.83%) |
Vikram Solar Ltd. Financial Information
| Year End | Revenue | PAT | Reserves & Surplus |
|---|---|---|---|
| 31 Mar 2025 | 3,451.67 Cr | 139.10 Cr | 940.71 Cr |
| 31 Mar 2024 | 2,456.08 Cr | 78.46 Cr | 201.51 Cr |
| 31 Mar 2023 | 2,026.62 Cr | 12.70 Cr | 128.68 Cr |
Vikram Solar Ltd. Background
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2005Our Company was incorporated as ‘International Leather Clothiers Private Limited’ at Kolkata, West Bengal
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2009Supplied, installed and commissioned 1st phase of 500 KW solar power plant at Solar Park Kottenheim, Germany
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2012Supplied, installed and commissioned 2 MW grid connected solar power plant on turnkey basis in Chhattisgarh Design, engineering, supply, installation, commissioning, operation and maintenance of 1 MW grid connected solar power plant on a turnkey basis in Odisha
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2013Installed a 100 KWp solar PV Plant on the rooftop of the arrival terminal block of the Cochin International Airport., making it the world’s first airport to completely operate on solar power
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2014Ranked as Tier-1 PV Module Maker in the Bloomberg NEF rankings as of quarter 1 of 2014.
First Company in India to install and commission a 10kW experimental grid tied floating solar PV generating station
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2015Reached 500MW production capacity
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2017Our Company was ranked as the KIWA PVEL ‘Top Performer’ in the 2017 PVEL PV Module Reliability Scorecard.
Reached 1,000 MW production capacity
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2018Commissioned a 200 MW grid connected solar PV project in Andhra Pradesh for the Andhra Pradesh Power Generation Corporation Limited
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2019Commissioned a 2.15 MW grid connected rooftop solar PV plant in Kolkata
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2021Fourth time Potential – Induced Degradation (PID) top performer in the 2021 PVEL PV Model Reliability Scorecard
Reached 2,500 MW cumulative annual rated production capacity (inclusive of trial production i.e. which is not yet commercially available)
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2022Our Company obtained a 350 MW module supply contract in the US
Reached 3,500 MW cumulative annual rated production capacity
Our Company was certified for M10 and G12 cell modules by TUV Rheinland, UL 61730: 1&2: 2022 for our factories at Panaiyur Village, Kanchipuram, India and Falta SEZ
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2023Our Company was awarded a contract by NTPC for supply of plant and equipment and local transportation for a 152 MW SPV Module Package of Nokh Solar Project in Rajasthan
Reached 3,500 MW cumulative annual rated production capacity
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2024Ranked as Tier-1 PV Module Maker in the Bloomberg NEF rankings as of four quarters of
Our Company was awarded a contract by NTPC Renewable Energy Limited (a wholly owned subsidiary of NTPC) for supply of Solar PV Modules for 1255 MW Khavda Solar Project for a quoted capacity of 397.7 MW
Launched PV module with n-type monocrystalline cell and heterojunction (HJT)
Our Company was ranked as the KIWA PVEL ‘Top Performer’ for the 7th time in the 2024 PVEL PV Module Reliability Scorecard
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2025Reached 4,500 MW cumulative annual rated production capacity
Our Company entered into a sponsorship agreement with Knight Riders Sports Private Limited thereby acting as the official sponsor or associate sponsor of the cricket team operated by Knight Riders Sports Private Limited for the Indian Premier League governed by the Board of Control for Cricket in India
Ranked as Tier-1 PV Module Maker in the Bloomberg NEF rankings as of first quarter of 2025
1. Partial funding of capital expenditure through investment in our wholly owned Subsidiary, VSL Green Power Private Limited for the Phase-I Project
2. Funding of capital expenditure through investment in our wholly owned Subsidiary, VSL Green Power Private Limited for the Phase-II Project
3. General Corporate Purposes
| Pricing Details | BSE | NSE |
|---|---|---|
| Issue Price | ₹ 332.00 | ₹ 332.00 |
| Open | ₹ 340.00 | ₹ 338.00 |
| Low | ₹ 334.05 | ₹ 333.65 |
| High | ₹ 381.70 | ₹ 381.65 |
| Last Trade | ₹ 356.45 | ₹ 356.40 |
1. Gyanesh Chaudhary
2. Gyanesh Chaudhary Family Trust
3. Vikram Capital Management Private Limited.
Our Company currently operates in the solar PV module manufacturing industry. Within India, among all commercially available renewable energy sources, solar energy’s potential is the greatest. Accordingly, India is actively developing its solar manufacturing capabilities, and in Fiscal ... Read more
Phone no:24427299, 24427399
FAQs
When does Vikram Solar Ltd. IPO opens and closes?
Vikram Solar Ltd. IPO opens from 19th August to 21st August 2025.What is the size of Vikram Solar Ltd. IPO?
The size of the Vikram Solar Ltd. IPO is ₹2,079.37 Cr.What is the price range of Vikram Solar Ltd. IPO?
The price range of Vikram Solar Ltd. IPO is at ₹315 to ₹332 per share.What is the minimum investment and lot size required for the Vikram Solar Ltd. IPO?
The minimum investment required is ₹14,940 and minimum lot size is 45 shares.When is Vikram Solar Ltd. IPO listing date?
The Vikram Solar Ltd. IPO will be listed on 26th August 2025.What is the objective of Vikram Solar Ltd. IPO?
1. Partial funding of capital expenditure through investment in our wholly owned Subsidiary, VSL Green Power Private Limited for the Phase-I Project2. Funding of capital expenditure through investment in our wholly owned Subsidiary, VSL Green Power Private Limited for the Phase-II Project
3. General Corporate Purposes
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article
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