Vikram Solar IPO Allotment Status Today: Know why GMP fell and what is expected from the listing
Today is an important day for stock market investors as the Vikram Solar IPO Allotment Status is going to be finalized. This IPO, which opened on 19 August and closed on 21 August, brought a tremendous response from investors. The issue was subscribed a total of 56.42 times, but the interesting thing is that despite heavy demand, GMP (Grey Market Premium) has slipped to 13%. Due to this, curiosity about the listing has increased even more for both retail and institutional investors.
Vikram Solar IPO Allotment Status Live Updates
Vikram Solar IPO Allotment will be finalized today, i.e. on 22 August and its listing date is scheduled for 26 August. The lead book runner of the IPO was JM Financial and MUFG Intime India Pvt. Ltd. is acting as the registrar. If you have applied for this IPO, you can check your Vikram Solar Allotment Status on the registrar’s portal. The investors who will be allotted shares will have their shares credited to their Demat accounts by 25 August and the refund process for those who did not get an allotment will also be initiated on the same day.
Vikram Solar IPO Allotment Status: Issue Details
The company raised a total of ₹2,080 crore through the IPO. It had a fresh issue of ₹1,500 crore and an offer for sale (OFS) of ₹580 crore. The price band was ₹315-₹332 per share. For retail investors, the one lot size was 45 shares which works out to ₹14,175. Small NII investors had to invest a minimum of 14 lots (₹2 lakh), while big NII investors required 67 lots (₹10 lakh).
About Vikram Solar Company
Incorporated in 2005 and headquartered in Kolkata, Vikram Solar is today India’s leading solar PV module manufacturer. The company started in 2009 with just 12 MW capacity and today holds a strong position in the industry with an installed manufacturing capacity of 4.50 GW.
The company’s work is not limited to manufacturing solar photovoltaic modules but also provides EPC (Engineering, Procurement & Construction) solutions and O&M (Operations & Maintenance) services. This is the reason why Vikram Solar has a strong presence not only in the domestic but also in the international market.
Vikram Solar IPO Allotment Status: GMP Updates
Vikram Solar IPO GMP was earlier trading at ₹39 in the Grey Market, which shows an estimated listing price of ₹371. But now it has slipped GMP and has come at only a 13% premium. Meaning, there is an expectation of listing pop but it may not be as big as it appeared in the beginning.
Vikram Solar IPO Allotment Status: Strengths and Weaknesses
Like every IPO, Vikram Solar also has some strengths and weaknesses.
Strengths:
The company is one of the largest solar PV manufacturers in India with 4.50 GW operational capacity. It has a strong focus on R&D and also gets global recognition for product quality such as the Bloomberg NEF Tier-1 manufacturer and the EUPD Top Brand PV Seal. Apart from this, the company has a strong order book and very strong brand recognition in both domestic and international markets.
Weaknesses:
The biggest challenge is the high dependence on imported wafers and cells for raw materials. This leads to high supply chain and pricing risks. Secondly, the company’s operations are working capital intensive and the lack of in-house cell manufacturing poses hurdles in cost control and margin expansion.
Vikram Solar IPO Allotment Status: Analyst Views
Deven Choksey Research has given a “Neutral” rating to this IPO. They say that the company’s valuation is fair, but margins and returns are lower than peers as backward integration is quite limited. Still, the company’s revenue and EBITDA show strong growth due to increasing domestic demand, technology upgrades and improved capacity utilization.
Vikram Solar IPO Allotment Status: Power Sector Outlook
The role of renewable energy in the Indian power sector is growing rapidly. India’s total installed power capacity has reached 485 GW from FY19 to June 2025, of which 234 GW comes from renewable energy. The biggest driver of this growth is solar power, which has grown from 0.9 GW in FY12 to 116 GW by June 2025. India’s target is to achieve 500 GW of non-fossil fuel-based capacity by 2030, of which 280 GW will come from solar alone. These sectoral tailwinds are a positive indicator for Vikram Solar in the long term.
Vikram Solar Allotment Status: How to Check
If you have applied for this IPO, you can visit the official registrar portal of MUFG Intime India Pvt. Ltd. to check your Vikram Solar IPO Allotment Status. There you will have to fill in your PAN number, application ID or DP client ID. After the allotment status is cleared, you will be confirmed whether you have received shares or not.
Final Take on Vikram Solar IPO
Vikram Solar IPO closed with a strong response, but slippage of GMP is a cautionary signal for investors. The long-term story is quite promising as India is aggressively growing in both are but short-term listing still remains a risk factor for gains. Retail investors need to take decisions with patience and understanding of the market trend.
Disclaimer
This article is for informational purposes only. The views, updates, and analysis given here should not be considered as investment advice. Always seek advice from your financial advisor before investing in an IPO.
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Vikram Solar IPO: Price Band, GMP, Financials & Listing Date – Full Details Inside
