Vikram Solar IPO GMP Today – Price Band, Dates, Review & Listing Gains (2025)

Introduction: Why Vikram Solar IPO is the Talk of the Town

The Indian IPO market is buzzing again, and one name that’s grabbing massive attention is Vikram Solar Ltd. With its strong background in solar energy, ambitious expansion plans, and a growing Grey Market Premium (GMP), this IPO has turned into a hot favorite among investors.

But is it really worth applying for?
This complete guide covers:

• Vikram Solar IPO GMP today

• Price band, lot size, and dates

• Company financials & expansion story

• Investor strategy for listing gains and long-term wealth

Vikram Solar IPO Details at a Glance

 Clearly, Vikram Solar is targeting both fresh funds for expansion and a partial exit for promoters via OFS.

About Vikram Solar Ltd: Company Background

Founded in 2006 and headquartered in Kolkata, Vikram Solar Ltd is one of India’s leading solar photovoltaic (PV) module manufacturers.

Key Highlights:

• Current Manufacturing Capacity: 4.5 GW (as of March 2025)

• Planned Expansion:

  • 15.5 GW by FY26

  • 20.5 GW by FY27

• Diversification Plans:

  • Solar cell manufacturing

  • Battery storage solutions

• Clientele: NTPC, NLC, Gujarat Industries Power, ACME Cleantech & more

• FY25 Financials:

  • Revenue: ₹3,423 crore (36% growth YoY)

  • Profit After Tax: ₹140 crore (75% growth YoY)

Fund Utilization (Fresh Issue ₹1,500 Cr):

• ₹770 crore: VSL Green Power expansion (Tamil Nadu)

• ₹595 crore: Capacity enhancement

• Remaining: General corporate purposes

Why this matters? – India is rapidly scaling up renewable energy capacity, and Vikram Solar wants to become a market leader in the solar energy manufacturing ecosystem.

Vikram Solar IPO GMP Today (Grey Market Premium)

The Grey Market Premium (GMP) gives a sneak peek into investor sentiment before listing. Let’s check the recent GMP trends:

Trend Summary:

• GMP started high at ₹60–69 but has cooled to ₹52–58.

• Still, a 15–20% premium suggests positive listing expectations.

Should You Trust GMP?

Why Investors Look at GMP:

• It signals short-term demand for the IPO.

• Higher GMP = higher listing gains expectation.

 Limitations of GMP:

• It’s unofficial & speculative.

• Can fluctuate daily, even hourly.

• Influenced by rumors & grey market trades.

 Use GMP only as a sentiment indicator, not the sole reason for investing.

Strengths of Vikram Solar IPO

1. Strong industry tailwinds – India’s renewable push = huge growth opportunity.

2. Robust expansion plans – Aggressive capacity building up to 20.5 GW.

3. Financial turnaround – Revenue +36% YoY, PAT +75% YoY in FY25.

4. Reputed clients – Government & private sector partnerships.

5. IPO proceeds for growth – Major portion used for capacity expansion.

Risks & Concerns for Investors

1. High Valuation: Pre-IPO P/E ~75 (expensive vs peers).

2. Raw Material Dependency: Imports from China may impact costs.

3. Execution Risk: Large expansion plans need flawless execution.

4. Policy Risk: Renewable incentives can shift with government policies.

5. Competitive Pressure: Adani Solar, Waaree Energies & others in the same space.

Investor Strategy: Listing Gains vs Long-Term Holding

For Short-Term Traders (Listing Gains):

• Apply at cutoff price for better chances of allotment.

• With current GMP (₹52–₹63), expected profit per lot:

  • Min: ₹2,340 (₹52 GMP × 45 shares)

  • Max: ₹4,410 (₹98 GMP × 45 shares)

 For Long-Term Investors:

• India’s solar energy sector is on a massive growth trajectory.

• Vikram Solar’s capacity expansion + diversification could boost earnings.

• However, enter with a 3–5 year horizon to ride growth & valuation expansion.

Expert Verdict: Apply or Avoid?

• Short-Term: Likely 15–20% listing gains – good opportunity for IPO flippers.

• Long-Term: Promising sector + solid growth, but valuations are steep. Ideal for investors who believe in the renewable energy growth story.

 Final Word: Apply for listing gains, and selectively hold for long-term if you can handle valuation risks.

Conclusion

The Vikram Solar IPO comes at a time when India is betting big on renewable energy. With a price band of ₹315–₹332, strong GMP trends, and ambitious expansion targets, this IPO looks set to generate solid investor interest.

• Short-term traders can expect listing gains.

• Long-term investors need to weigh growth potential vs high valuations.

In either case, Vikram Solar IPO is one of the most talked-about IPOs of 2025, and investors shouldn’t ignore it.

Final Tips for Investors

1. Track daily GMP till listing for the latest sentiment.

2. Apply early via UPI/ASBA before closing (Aug 21).

3. Check allotment status on Aug 22.

4. Decide exit/hold before listing day (Aug 26).