The much-awaited Vikram Solar IPO is all set for its stock market debut, and investors are keeping a close watch on the developments. The IPO, which received an overwhelming response from retail and institutional investors alike, will soon see its listing on the Indian stock exchanges.
With strong subscription figures, healthy grey market premiums (GMP), and solid fundamentals, market experts expect the stock to make a premium debut. Here’s a detailed look at the key highlights investors should know.
Vikram Solar Listing Date and Refund Process
The listing of Vikram Solar shares is confirmed for Tuesday, 26 August 2025, on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This marks an important milestone for the renewable energy firm, which has been one of the most anticipated IPOs of the year.
Ahead of the listing, the process of crediting shares to investors’ demat accounts and initiating refunds for those who did not receive allotments has already been completed on Monday, 25 August 2025. This smooth transition ensures that all successful applicants can begin trading the stock from the listing day without delay.
Industry platforms like The Economic Times, Moneycontrol, Mint, Zerodha, and The Financial Express have been actively reporting updates, keeping investors informed about the timeline.
Vikram Solar IPO Allotment and Investor Access
The IPO allotment process was finalized on Friday, 22 August 2025, marking the conclusion of the bidding and verification stage. Investors who applied for the IPO can now check their allotment status through multiple platforms.
The registrar of the issue, MUFG Intime (formerly Link Intime), has enabled investors to check allotment results using their PAN number, application number, or demat account details. In addition, the official websites of BSE and NSE also provide a simple interface for checking allotment updates.
Reports from IPO Watch, The Economic Times, and The Financial Express confirm that allotment announcements received a large number of queries, showing the enthusiasm surrounding the issue. Those who did not secure allotment will receive refunds directly in their bank accounts, as per the refund initiation on 25 August 2025.
Vikram Solar IPO Details at a Glance
The Vikram Solar IPO opened for subscription between 19–21 August 2025. The price band for the issue was set at ₹315–₹332 per share, with a lot size of 45 shares.
The company successfully raised approximately ₹2,079.37 crore through this IPO. Out of this, ₹1,500 crore came from fresh issue of shares, while ₹579.37 crore was raised through an Offer-for-Sale (OFS) by existing shareholders.
This strong fundraising exercise not only supports Vikram Solar’s expansion and debt reduction plans but also reflects investors’ growing interest in the renewable energy sector. Coverage from Business Today, Zerodha, sptulsian.com, and The Economic Times highlighted that the fundraising will help the company strengthen its solar manufacturing capacity and expand its global presence.
Subscription, Grey Market Premium, and Unlisted Price
One of the biggest indicators of the IPO’s popularity was the subscription data. On Day 1, the IPO was subscribed 1.52 times, which rose sharply to 4.56 times by Day 2. By the end of Day 3, the subscription had surged to a massive 54.63 times, making it one of the most heavily subscribed IPOs of the season.
The Grey Market Premium (GMP) has also been signaling strong listing gains. Reports suggest a 12–18% premium over the issue price, indicating a likely listing price between ₹377 and ₹390 per share. This is backed by platforms like Mint, Business Standard, and The Economic Times, which show strong investor sentiment.
Even before listing, unlisted shares of Vikram Solar were trading in the ₹385 range on several platforms such as Sharescart and Planify. Some platforms like Stockify quoted even higher unlisted share prices—around ₹467 per share—reflecting bullish expectations from investors.
Conclusion
The Vikram Solar IPO has created a buzz in the market with its oversubscription, strong GMP, and positive investor outlook. With the listing set for 26 August 2025, all eyes will be on how the stock performs on debut.
If the shares list in line with market expectations, investors could see double-digit listing gains, rewarding those who secured allotments. The company’s entry into the stock market also underscores the rising confidence in India’s renewable energy sector, which is expected to be a major driver of growth in the coming decade.
For now, Vikram Solar stands as one of the most successful IPOs of 2025, and its listing will serve as a key indicator of investor appetite for green energy companies in the Indian markets.
F.A.Q.
– When is Vikram Solar IPO listing date?
The Vikram Solar IPO is scheduled to list on Tuesday, 26 August 2025, on both the BSE and NSE.
– What was the IPO price band and lot size?
The IPO price band was fixed at ₹315–₹332 per share, and the minimum lot size was 45 shares.
– How much money did Vikram Solar raise through the IPO?
The company raised approximately ₹2,079.37 crore, which included ₹1,500 crore from fresh issue and ₹579.37 crore via Offer-for-Sale (OFS).
– How was the subscription response for Vikram Solar IPO?
The IPO saw a strong response, with 1.52× subscription on Day 1, 4.56× on Day 2, and 54.63× by the final day.
– What is the expected listing price of Vikram Solar shares?
Based on Grey Market Premium (GMP), Vikram Solar shares are expected to list in the ₹377–₹390 range, offering potential 12–18% listing gains.
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