Vikram Solar
August 19, 2025 – August 21, 2025
| Price | ₹0 - ₹0 |
| Premium | ₹0 |
|---|---|
| Lot size | 0 |
| Allotment | Aug 22, 2025 |
| Listing | Aug 26, 2025 |
Vikram Solar About
IPO Details
| Total Issue Size | [.] shares (aggregating up to ?[.] Cr) |
| Fresh Issue | [.] shares (aggregating up to ?1,500.00 Cr) |
| Offer for Sale | 1,74,50,882 shares of ?10 (aggregating up to ?[.] Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 31,65,36,309 shares |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 50% of the Net Offer |
| Retail Shares Offered | Not more than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Offer |
Key Performance Indicators
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 19.67% | 4.05% | -16.44% |
| ROCE | 20.76% | 12.78% | 2.22% |
| RONW | 17.90% | 3.97% | -17.92% |
Company Financials In Crores
| Period Ended | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| Assets | 2,585.50 | 2,476.29 | 2,237.23 |
| Revenue | 2,523.96 | 2,091.91 | 1,743.05 |
| Profit After Tax | 79.72 | 14.49 | -62.94 |
| Net Worth | -0.1 | -0.08 | -0.06 |
| Reserves and Surplus | 445.42 | 106.37 | 92.46 |
| Total Borrowing | 0.1 | 0.09 | 0.07 |
About Company
Core Business Segments
- PV Module Manufacturing: Vikram Solar produces advanced solar modules using the latest technologies to meet a wide range of energy needs across geographies.
- EPC Solutions: The company offers turnkey Engineering, Procurement, and Construction services, managing solar power projects from design through to final commissioning.
- O&M Services: To ensure long-term efficiency and reliability, the company also provides operations and maintenance support for solar installations.
Product Technologies
The company’s product portfolio includes high-performance modules using cutting-edge technologies:
- PERC Modules: Based on p-type monocrystalline silicon with Passivated Emitter and Rear Contact design.
- TOPCon Modules: Using n-type monocrystalline silicon with Tunnel Oxide Passivated Contact.
- HJT Modules: Built on n-type silicon with Heterojunction Technology.
These modules are available in both bifacial (glass-to-glass or glass-to-transparent back sheet) and monofacial (glass-to-white or black back sheet) variants.
Manufacturing Footprint
Vikram Solar’s production facilities are located at two strategic locations:
- Falta SEZ in Kolkata, West Bengal
- Oragadam in Chennai, Tamil Nadu
Strength
Strong Brand & Customer Base: Built through deep customer understanding and consistent product quality.
Advanced Manufacturing Capabilities: Automated plants equipped with global technologies from Japan, Germany, the U.S., and Switzerland.
Robust R&D and Technical Expertise: Backed by strong research focus, strict quality control, and skilled talent pool.
Weakness
Raw Material Price Volatility: Fluctuations in wafer and solar cell prices may increase costs and impact profitability.
Ongoing Legal Proceedings: Involvement in legal cases by the company and promoters may lead to liabilities or penalties.
Lack of Long-Term Supplier Contracts: Dependency on spot purchases poses a risk of raw material unavailability.
Vikram Solar Lead Manager(s)
Vikram Solar Address
789, Anandapur Main Road, Eastern Metropolitan
Bypass, E.K.T,
Kolkata, West Bengal, 700107
Phone: +91 33 2442 7399
Email: secretarial@vikramsolar.com
Website: http://www.vikramsolar.com/
Vikram Solar Registrar
MUFG Intime India Private Limited (Link Intime)
Link Intime India Private Ltd
C 101, 247 Park,
L.B.S.Marg Vikhroli (West),
Mumbai - 400083