The IPO attracted bids for more than 247.81 crore shares against 4.53 crore shares on offer. The retail portion of the IPO was booked 7.65 times, while the Non-Institutional Investors’ (NIIs) segment was subscribed 50.9 times. The Qualified Institutional Buyers’ (QIBs) category was booked 142.79 times.
The mainboard issue comprised a fresh issuance of 4.51 crore shares, worth ₹1,500 crore, combined with an offer-for-sale (OFS) component of 1.74 crore shares, amounting to ₹89.09 crore.The proceeds from the new issue will be invested towards covering partial capital expenditure for both phase I and phase II projects.
Investors who bid for the IPO shares can verify their allotment status online through BSE, NSE, or the official website of the issue registrar, MUFG Intime India Private Limited (Link Intime).
Steps to check Vikram Solar IPO share allotment on BSE:
Visit the IPO allotment page on BSE website: https://www.bseindia.com/static/investors/application_statuschecksystem.aspx
Select ‘Equity’ as the issue type
Select Vikram Solar Ltd from the dropdown menu for issue names
Input your application number or PAN to proceed
Click on search to review your share allotment detailsSteps to check IPO allotment on MUFG Intime India:
Visit the link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Choose ‘Vikram Solar Ltd’ from the list of companies
Opt for any one of the PAN, Application Number, DP/Client ID, or Account Number/IFSC to review your allotment status
Enter the requested details
Click on ‘Submit’ to see the allotment status
The IPO bidders can also check the share allotment status via NSE using the PAN and application number.
The company is expected to credit the shares to the Demat accounts of successful bidders on Monday, August 25. Additionally, the company will start refunds for non-allottees on the same date. Shares of Vikram Solar are scheduled to be listed on the NSE and BSE on August 26.
Vikram Solar is a solar photovoltaic module manufacturer. The company is expanding its solar PV module manufacturing capacity to 15.50 GW by FY26, and 20.50 GW by FY27 through its greenfield and brownfield projects. Additionally, the company is also taking on solar cell production with two units totaling 12 GW in Tamil Nadu by FY27.
Furthermore, the company plans to venture into a greenfield battery energy storage system (BESS) project with a primary 1.00 GWh capacity, extendable to 5.00 GWh by FY27. This marks a strategic movement into the energy storage segment to bolster growth and profitability.
As of March 31, 2025, the company had an order book of 10.34 GW, assuring a clear sight of capability utilization and revenue growth.
