Vikram Solar Limited, one of India’s leading solar panel manufacturers, has officially launched its Initial Public Offering (IPO) on August 19, 2025. Investors are closely tracking the Vikram Solar IPO Grey Market Premium (GMP) to gauge potential listing gains. With a robust business model, growing renewable energy demand, and impressive expansion plans, this IPO is attracting significant attention. In this article, we’ll cover the Vikram Solar IPO GMP trends, Kostak rates, Subject to Sauda, IPO details, allotment dates, and expected returns.
What is Vikram Solar IPO GMP Today?
As of August 19, 2025, the Vikram Solar IPO GMP is ₹56 per share, which means shares are being traded at a premium in the unofficial grey market. Investors often look at GMP trends to estimate possible listing prices and short-term returns.
- Vikram Solar IPO GMP Today: ₹56
- Kostak Rate: Not available today
- Subject to Sauda: ₹1,600
- Expected Returns: 17%
Vikram Solar IPO GMP Trend – Day by Day
Here’s a look at the daily GMP movement of Vikram Solar IPO in August 2025:
| Date | IPO GMP | GMP Trend | Subject to Sauda |
| 19 Aug | ₹56 | Down | ₹1,600 |
| 18 Aug | ₹68 | Up | ₹200 |
| 15 Aug | ₹60 | Down | ₹1,500 |
| 14 Aug | ₹64 | Down | – |
| 13 Aug | ₹72 | Up | – |
| 12 Aug | – | – | – |
The GMP touched a high of ₹72 on August 13 but has since corrected, standing at ₹56 on August 19. This shows a cautious sentiment among investors despite strong fundamentals.
Vikram Solar IPO Details
The IPO of Vikram Solar Limited is a Mainboard IPO with a sizable issue size of ₹2,079.37 crores. Below are the key details:
- IPO Open Date: August 19, 2025
- IPO Close Date: August 21, 2025
- Face Value: ₹10 per equity share
- Price Band: ₹315 – ₹332 per share
- Lot Size: 45 Shares
- Issue Size: Approx ₹2,079.37 Crores
- Fresh Issue: ₹1,500 Crores
- Offer for Sale: 1.74 crore equity shares
- Fresh Issue: ₹1,500 Crores
- Issue Type: Book Built Issue
- Listing: BSE & NSE
- Retail Quota: 35%
- QIB Quota: 50%
- NII Quota: 15%
Vikram Solar IPO Important Dates
Here’s the complete IPO timeline for investors:
- IPO Open Date: August 19, 2025
- IPO Close Date: August 21, 2025
- Basis of Allotment: August 22, 2025
- Refund Initiation: August 25, 2025
- Credit to Demat Accounts: August 25, 2025
- Listing Date: August 26, 2025
About Vikram Solar Limited
Founded in 2009, Vikram Solar Limited is a key player in India’s renewable energy sector. The company specializes in the production of solar photovoltaic (PV) modules, supporting the country’s transition toward green energy.
- Current Manufacturing Capacity: 3.50 GW
- Future Capacity Expansion:
- 10.50 GW by FY26
- 15.50 GW by FY27
- 3 GW solar cell plant under construction in Tamil Nadu
- 10.50 GW by FY26
- Revenue (FY2024): ₹25,109.90 million
Apart from solar panels, the company also develops inverters, cleaning systems, and robotic cleaners, ensuring high-quality solar energy solutions.
With India’s push toward renewable energy, Vikram Solar is well-positioned for long-term growth.
Vikram Solar IPO GMP – Should You Apply?
The grey market premium gives an indication of investor sentiment, but the decision to invest should rely on company fundamentals:
Strengths:
- Strong position in India’s solar manufacturing industry
- Rising renewable energy demand
- Aggressive expansion plans (15.50 GW capacity by FY27)
- Robust revenue growth
Risks:
- Grey Market Premium volatility
- Industry competition
- Policy and raw material dependency
Analysts suggest that while short-term listing gains are possible, the real opportunity lies in Vikram Solar’s long-term renewable energy potential.
What is an IPO?
An Initial Public Offering (IPO) is the process through which a private company offers its shares to the public for the first time to raise capital. Companies launch IPOs to fund business expansion, reduce debt, or increase market visibility. Investors who buy IPO shares become part-owners of the company and can benefit from both short-term listing gains and long-term growth if the company performs well.
What is Grey Market Premium (GMP) in IPOs?
The Grey Market Premium (GMP) is the extra price at which IPO shares are traded in the unofficial market before they are officially listed on stock exchanges. It indicates investor sentiment and demand for the IPO. For example, if the IPO issue price is ₹332 and the GMP is ₹56, then the estimated listing price could be around ₹388. While GMP gives a quick snapshot of market mood, it is unofficial and should not be the only factor in investment decisions.
Conclusion
The Vikram Solar IPO is generating strong buzz in the market, not just because of its GMP, but also due to the company’s leadership in solar manufacturing and India’s growing renewable energy push. While the GMP shows a premium of ₹56 today, investors should base their decision on business fundamentals, financial performance, and future growth plans rather than only grey market trends.
If you are looking for short-term gains, the GMP suggests moderate listing benefits. For long-term investors, Vikram Solar offers strong growth potential as India continues to accelerate its shift toward clean energy.
FAQ
Q1. What is Vikram Solar IPO GMP today?
As of August 19, 2025, Vikram Solar IPO GMP is ₹56 per share.
Q2. What is Vikram Solar IPO price band?
The IPO price band is ₹315 – ₹332 per share.
Q3. What is the Subject to Sauda for Vikram Solar IPO?
The Subject to Sauda value today is ₹1,600.
Q4. How much funds will Vikram Solar IPO raise?
The total issue size is ₹2,079.37 crores, including a fresh issue of ₹1,500 crores.
Q5. When will Vikram Solar IPO shares be listed?
The IPO will be listed on August 26, 2025, on BSE and NSE.
