Vikram Solar lists bright

A new listing on the bourses; Vikram Solar got listed on the BSE at Rs.340 v/s IPO price at Rs.332; it also rose to levels of Rs.371 and is now trading at Rs.357 range.

The IPO had met with a good response, overall subscribing 54.63x, with QIBs taking the largest chunk at 142.79x, HNIs at 50.9x and Retail at 7.65x.

Vikram Solar manufactures solar photovoltaic (PV) modules, having 4.5 GW of installed (rated) capacity in West Bengal and Tamil Nadu, with an effective capacity of 2.85 GW. Its enlisted capacity, as per Ministry of New & Renewable Energy’s Approved List of Modules and Manufacturers (ALMM) is 2.85 GW, as of 30.6.25. Outstanding order book stood at 10.34 GW, planned to be executed in the next 1.5 years.

Our conclusion in the IPO Analysis - Vikram Solar’s IPO has left nothing on the table for prospective IPO investors. Hence, skip it.