Vikram Solar IPO Shines Bright with Strong Initial Subscriptions

Vikram Solar Ltd's IPO saw impressive traction with a 1.52 times subscription on day one. The offering, ending August 21, aims to raise Rs 2,079 crore. The funds will support expansion, including investment in VSL Green Power. Established in 2009, Vikram Solar boasts a 4.50 GW capacity serving 19 states and partners with key energy players.

Devdiscourse News Desk | New Delhi | Updated: 19-08-2025 19:01 IST | Created: 19-08-2025 19:01 IST

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Vikram Solar Ltd's initial public offering (IPO) received a warm welcome, achieving 1.52 times subscription on its debut day, Tuesday. According to data from the NSE, the IPO received bids for 6,88,40,280 shares compared to the 4,53,61,650 shares up for grabs.

Impressively, the segment for Non-Institutional Investors saw a 3.84 times subscription, with the Retail Individual Investors quota witnessing a 1.36 times subscription. Qualified Institutional Buyers (QIBs), however, showed a modest 2 percent participation rate.

The IPO, valued at Rs 2,079 crore and priced between Rs 315 and Rs 332 per share, will conclude on August 21. Proceeds will fund capital expenses for VSL Green Power, a subsidiary of Vikram Solar. Since starting operations in 2009, the company has expanded its solar PV module capacity to 4.50 GW, installing facilities in West Bengal and Tamil Nadu.

(With inputs from agencies.)