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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Vikram Solar Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹332
Per ShareLot Size
45 Shares
Minimum Investment
₹14,940
Issue Size
₹2,079.37 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15.05%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
77.64%
Promoter Holding (Post-Issue)
65.87%
Issue Type
Book Building
ISIN
INE078V01014
As of March 31, 2025, 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.
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 2025, India's cumulative manufacturing capacity reached approximately 89.00 GW for solar module and approximately 25.00 GW for solar cell. India aims to build its presence across all stages of solar manufacturing over the next two to three years. India's strong manufacturing capabilities and reputation as supplier of high-quality solar products contribute to strengthening its position as a global player.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offering of 62,631,604 equity shares of face value of Rs. 10/- each ("Equity Shares") of Vikram Solar Limited ("the Company" or "Company" or "Issuer") for cash at a price of Rs. 332/- per equity share ("Offer Price") aggregating to Rs. 2079.37 crores (the "Offer") Comprising of a fresh issue of 45,180,722 equity shares aggregating to Rs. 1500.00 crores by the company ("Fresh Issue") and an offer for sale of 17,450,882 equity shares aggregating to Rs. 579.37 crores ("Offer for Sale") comprising of 6,000,000 equity shares aggregating to Rs. 199.20 crores by Gyanesh Chaudhary, 1,500,000 equity shares aggregating to Rs. 49.80 crores by Vikram Capital Management Private Limited and 9,950,882 equity shares aggregating to Rs. 330.37 crores by Anil Chaudhary, collectively referred to as the "Selling Shareholders", and such equity shares, the "Offered Shares"). The offer included a reservation of 301,204 equity shares, aggregating to Rs. 10.00 crores (Constituting upto 5% of the Post-Offer Paid-up Equity Share Capital), for subscription by eligible employees (the "Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as "Net Offer". The offer and net offer constitutes 17.32% and 17.23%, respectively, of the post-offer paid-up equity share capital of the company.
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Our Company was originally incorporated as `International Leather Clothiers Private Limited' as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 2, 2005, issued by the Registrar of Companies, West Bengal at Kolkata ("RoC"). Further, the name of our Company was changed from `International Leather Clothiers Private Limited' to `International Clothiers India Private Limited' pursuant to which a fresh certificate of incorporation consequent upon change of name was issued by the RoC dated May 10, 2006. The name of our Company was further changed from `International Clothiers India Private Limited' to `Vikram Solar Private Limited' pursuant to which a fresh certificate of incorporation consequent upon change of name was issued by the RoC dated September 3, 2008. Subsequently, our Company was converted from a private limited company to a public limited company and a fresh certificate of incorporation consequent upon conversion from private to public company dated August 22, 2017 was issued by the RoC and the name of our Company was changed from `Vikram Solar Private Limited' to `Vikram Solar Limited'.
Wholesaler and Retailer
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.