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Objective of the Issue
The Net Proceeds are proposed to be utilised in the following manner:
- Partial funding of capital expenditure through investment in our wholly owned Subsidiary, VSL Green Power Private Limited, for the Phase-I Project.
- Funding of capital expenditure through investment in our wholly owned Subsidiary, VSL Green Power Private Limited, for the Phase-II Project.
- General Corporate Purposes.
IPO Details, Price, Market Lot
| IPO Details | |
| IPO Open Date | 19 August 2025 |
| IPO Close Date | 21 August 2025 |
| IPO Issue Size | 6,26,31,604 shares (Aggregating up to ₹2,079.37 Cr) |
| Fresh Issue | 4,51,80,722 shares (Aggregating up to ₹1,500.00 Cr) |
| Offer for Sale | 1,74,50,882 shares (Aggregating up to ₹579.37 Cr) |
| Retail Portion | Not less than 35% of the offer |
| NII Portion | Not less than 15% of the offer |
| QIB Portion | Not more than 50% of the offer |
| Listing At | BSE, NSE |
| IPO Price | |
| Face Value | ₹10 per share |
| IPO Price Band | ₹315 to ₹332 per share |
| IPO Issue Type | Book Built Issue |
| Time Table (Tentative) | |
| IPO Open Date | 19 August 2025 |
| IPO Close Date | 21 August 2025 |
| Basis of Allotment Date | 22 August 2025 |
| Initiation of Refunds | 25 August 2025 |
| Credit of Share to Demat Account | 25 August 2025 |
| IPO Listing Date | 26 August 2025 |
| Company Promotor & Promotor’s Holding | |
| Vikram Capital Management Private Limited, Gyanesh Chaudhary Family Trust and Gyanesh Chaudhary are the company promoters. | |
| Pre Issue Promotor Holding | 77.64% |
| Post Issue Promotor Holding | 63.11% |
| Company’s Contact & Address | |
| Vikram Solar Limited Biowonder, Unit No. 1102, 11th Floor, 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/ |
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| IPO Registrar, Lead Manager, Prospectus | |
| IPO Prospectus | |
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| IPO Registrar | |
| MUFG Intime India Pvt Ltd | |
| IPO Lead Manager | |
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Vikram Solar IPO Lot Size
| Number of Shares Per Lot = 45 shares | |||
| Application | Lot(s) | Shares | Amount |
| Retail (Minimum) | 1 | 45 | ₹14,940 |
| Retail (Maximum) | 13 | 585 | ₹1,94,220 |
| S-HNI (Minimum) | 14 | 630 | ₹2,09,160 |
| S-HNI (Maximum) | 66 | 2,970 | ₹9,86,040 |
| B-HNI (Minimum) | 67 | 3,015 | ₹10,00,980 |
| Number of Shares Per Lot = 45 shares | |||
| Application | Lot(s) | Shares | Amount |
| Retail (Min) | 1 | 45 | ₹14,940 |
| Retail (Max) | 13 | 585 | ₹1,94,220 |
| S-HNI (Min) | 14 | 630 | ₹2,09,160 |
| S-HNI (Max) | 66 | 2,970 | ₹9,86,040 |
| B-HNI (Min) | 67 | 3,015 | ₹10,00,980 |
Financial Report
| Period Ended | Assets (₹ in Crore) |
Revenue (₹ in Crore) |
P A T (₹ in Crore) |
Net Worth (₹ in Crore) |
Borrowings (₹ in Crore) |
| 31 March 2025 | 2,832.15 | 3,459.53 | 139.83 | 1,241.99 | 230.67 |
| 31 March 2024 | 2,585.50 | 2,523.96 | 79.72 | 445.42 | 808.33 |
| 31 March 2023 | 2,476.29 | 2,091.91 | 14.49 | 365.20 | 737.79 |
| Period Ended | 31 March 2025 | 31 March 2024 | 31 March 2023 |
| Assets | 2,832.15 | 2,585.50 | 2,476.29 |
| Revenue | 3,459.53 | 2,523.96 | 2,091.91 |
| P A T | 139.83 | 79.72 | 14.49 |
| Net Worth | 1,241.99 | 445.42 | 365.20 |
| Borrowings | 230.67 | 808.33 | 737.79 |
| Amount in ₹ Crore | |||