Vikram Solar IPO Day 2: Check GMP, Subscription Status & Key Highlights

Vikram Solar Limited, a major player in solar photovoltaic manufacturing in India, has launched its ₹2,079 crore IPO, comprising a fresh issue of ₹1,500 crore and an offer for sale of ₹579 crore. The issue opens for subscription on August 19, 2025, at a price band of ₹315 to ₹332 per share, and closes on August 21, 2025. Post allotment, the company’s shares are expected to be listed on both the BSE and NSE on August 26, 2025.

Vikram Solar IPO Day 2 Subscription Status

Vikram Solar IPO was subscribed 4.73 times on the second day, led by non-institutional investors at 13.51 times and retail investors at 3.62 times, while QIBs subscribed 0.12 times.

Investor Category	Subscription (x)
Qualified Institutional Buyers (QIB)	0.12
Non-Institutional Investors (NII)	13.51
bNII (above ₹10 lakh)	13.35
sNII (less than ₹10 lakh)	13.85
Retail Individual Investors (RII)	3.62
Employees	2.49
Total Subscriptions	4.73

Total Applications: 15,25,121

Total Bid Amount (₹ crores): 6,891

Objective of the Vikram Solar IPO

Vikram Solar Limited intends to utilize the net proceeds from the fresh issue towards funding capital expenditure for its Phase I and Phase II projects, along with meeting general corporate purposes.

Use of IPO Proceeds	Amount (₹ Cr)
Partial funding of capital expenditure for the Phase-I Project	769.73
Funding of capital expenditure for the Phase-II Project	595.21
General Corporate Purposes	–

Vikram Solar IPO GMP – Day 2 Update

The grey market premium (GMP) of Vikram Solar IPO is ₹48, as on 5:00 PM August 20, 2025. The upper limit of the price band is ₹332, and the estimated listing price as per today’s GMP can be ₹380, giving a potential gain of around 14.46% per share.

Date	GMP	Est. Listing Price	Gain
20-08-2025 (DAY 2)	₹48	₹380	14.46%

Disclaimer: The above GMP (Grey Market Premium) is just unofficial market information, which is not officially confirmed. These figures are shared for informational purposes only and investment decisions based on these should be based on the investor’s own research and discretion. We do not conduct, recommend or support any kind of transaction in the grey market.

Vikram Solar IPO – Key Details

Particulars	Details
IPO Opening Date	August 19, 2025
IPO Closing Date	August 21, 2025
Issue Price Band	₹315 to ₹332 per share
Total Issue Size	6,26,31,604 shares(aggregating up to ₹2,079.37 Cr)
Listing Platform	BSE, NSE
Registrar	MUFG Intime India Private Limited
Vikram Solar IPO RHP	Click Here

Important Dates for Vikram Solar IPO Allotment

Event	Date
Tentative Allotment	August 22, 2025
Refunds Initiation	August 25, 2025
Credit of Shares to Demat	August 25, 2025
Listing Date	August 26, 2025

Vikram Solar Overview

Vikram Solar Limited is one of India’s largest solar photovoltaic (PV) module manufacturers, with over 17 years of industry experience. As of March 31, 2025, the company has an installed manufacturing capacity of 4.5 GW, strategically located in West Bengal and Tamil Nadu, and is expanding to 20.5 GW by FY 2027. Its product portfolio includes high-efficiency Mono-PERC, N-Type, and HJT solar modules, supported by strong R&D and global certifications. Vikram Solar also provides EPC and O&M services and exports to over 39 countries, serving marquee clients worldwide while maintaining a strong domestic presence.

Read Also: Vikram Solar IPO Day 1: Check GMP, Subscription Status & Key Highlights

Easy Steps to Apply for Vikram Solar IPO via Pocketful

Step 1 :  Install the Pocketful Application from Play Store or App Store

Step 2 : Sign up and complete your KYC requirements

Step 3 : Go to the IPO section from the home page

Step 4 : Look for “Vikram Solar” in the list

Step 5 : Tap on Apply and enter your bid details