The Vikram Solar IPO presents an opportunity to invest in one of India’s top solar photovoltaic module manufacturers with over 15 years of experience and a manufacturing capacity of 3.5 GW as of March 31, 2024. The company serves a diversified client base domestically and globally, offering high-efficiency PV modules along with EPC and O&M services. Positioned strongly in India’s growing clean energy market, the Vikram Solar IPO offers investors exposure to the expanding solar energy industry and sustainable growth prospects.
₹40
₹332
₹338.00
Expert Opinions
The Vikram Solar IPO is receiving positive market sentiment as it is recognized as a leading player in India’s solar photovoltaic manufacturing sector with a strong growth trajectory. The company’s strengths include its extensive operational capacity, advanced technology in high-efficiency solar modules, and a diversified client base across domestic and international markets. Financially, Vikram Solar demonstrates solid performance with a Return on Equity (ROE) of 16.57%, Return on Capital Employed (ROCE) of 24.49%, and a healthy Net Asset Value (NAV) of ₹39.24 for FY 2025, reflecting efficient capital use and profitability.
Challenges involve risks related to sector cyclicality, raw material price fluctuations, stiff competition from global and domestic manufacturers, and potential execution risks in capacity expansion. From a long-term investment perspective, the Vikram Solar IPO provides an attractive opportunity to gain exposure to the expanding renewable energy market, supported by government initiatives and increasing global demand for clean energy solutions, making it suitable for growth-oriented investors.
Investor Considerations
The Vikram Solar IPO offers investors a company with strong performance and solid fundamentals, reporting a Price to Book Value of 8.46, a PAT margin of 4.08%, and a low debt-to-equity ratio of 0.19 for FY 2025. The company is a leading solar photovoltaic (PV) module manufacturer with 16 years of experience and an operational capacity of 4.5 GW. The renewable energy sector outlook remains highly favorable, driven by India’s aggressive expansion in solar capacity, government incentives, and rising global demand for clean energy solutions.
Growth prospects for Vikram Solar are promising, supported by expanding manufacturing capabilities, a robust order book exceeding 10 GW, and strategic global market expansions. Risks include sector cyclicality, raw material price fluctuations, execution challenges in capacity scaling, and intense competition. The Vikram Solar IPO suits long-term investors aiming to capitalize on the clean energy transition, while short-term investors should consider sector volatility and valuation dynamics.
| Date | GMP | Trend |
|---|---|---|
| 25 Aug 2025 11.17 | ₹40 | --- |
| 24 Aug 2025 11.54 | ₹40 | --- |
| 23 Aug 2025 18.20 | ₹40 | --- |
| 22 Aug 2025 11.01 | ₹40 | Down |
| 21 Aug 2025 11.19 | ₹45 | Down |
| 20 Aug 2025 11.15 | ₹50 | --- |
| 19 Aug 2025 19.45 | ₹50 | --- |
| 18 Aug 2025 19.31 | ₹50 | Down |
| 17 Aug 2025 12.32 | ₹60 | --- |
| 15 Aug 2025 11.38 | ₹60 | Down |
| 14 Aug 2025 10.36 | ₹70 | --- |
| 13 Aug 2025 18.40 | ₹70 | Up |
| 12 Aug 2025 10.42 | ₹00 | --- |
| 11 Aug 2025 18.45 | ₹00 | --- |
FAQs
The Grey Market Premium showed limited accuracy in predicting Vikram Solar IPO’s listing performance. With a final GMP of ₹40, it projected a premium of 12.0% over the issue price of ₹332. The stock listed at ₹338, delivering a modest gain of 1.8%. This resulted in a prediction error of 10.2%, where the GMP correctly signaled a positive listing but significantly overestimated the actual gain, reflecting poor reliability in this case.
Vikram Solar IPO Current GMP is ₹40.
Vikram Solar IPO Expected Returns is 12.05%.
Vikram Solar IPO estimated listing price is ₹372.