Vikram Solar IPO Opens Aug 19 After Raising Rs 620.8 Cr From Anchor Investors Including Goldman Sachs & More

Prior to the public subscription opening for Vikram Solar IPO on Tuesday, August 19, 2025, the company had raised Rs. 620.8 crores from anchor investors. On Monday, August 18, 2025, the company notified the stock exchanges that it issued 1.87 crore equity shares to anchor investors at a price of Rs. 332 per share.

97.96 lakh equity shares, or 52.39% of the overall anchor book size, were distributed to 9 domestic mutual funds across 22 schemes out of the 1.87 crore equity shares allotted to the anchor investors.

Kotak Mutual Fund, Nippon Mutual Fund, Goldman Sachs, Franklin Templeton Mutual Fund, Singularity Equity Fund I, Morgan Stanley, Tata Mutual Fund, ICICI Prudential Life, SBI General Insurance, BNP Paribas, HSBC, Citigroup, and numerous other prominent institutions took part in the anchor. A healthy mix of international portfolio investors, insurance firms, and domestic mutual funds is represented in the anchor book.

A combination of fresh share issuance up to Rs 1,500 crore and an offer for sale (OFS) of up to 1,74,50,882 equity shares by promoters and promoter group selling shareholders are included in the Vikram Solar IPO. The book build issue also includes a subscription reservation by eligible employees in the employee reservation portion. Vikram Solar will raise Rs 2,079.37 crore via IPO at the upper end of the price band.

Equity shares of Vikram Solar will be available for subscription in the initial public offering on Tuesday, August 19, 2025, and will close on Thursday, August 21, 2025. A price range of Rs 315 to Rs 332 per equity share has been established for the offer. On August 22, 2025, the allocation for the Vikram Solar IPO is anticipated to be finalized. The anticipated listing date for the Vikram Solar IPO is set for August 26, 2025, and it will be listed on the BSE and NSE.

The minimum amount of investment needed by a retail investor is Rs 14,175, as investors can bid for a minimum of 45 equity shares and then in multiples of 45 equity shares.
A minimum of 15% of the net offer will be available for allocation to non-institutional bidders, a minimum of 35% of the net offer will be available for allocation to retail individual bidders, and no more than 50% of the net offer will be proportionately available for allocation to qualified institutional buyers through the book-building process.

The issue's registrar is MUFG Intime India Private Limited, while the book-running lead managers are JM Financial Limited, Nuvama Wealth Management Limited, UBS Securities India Private Limited, Equirus Capital Private Limited, and PhillipCapital (India) Private Limited.

The firm recorded a total income of Rs 3,459.53 crore for the year ended March 31, 2025, up from Rs 2,523.96 crore for FY24. A substantial reversal from barely Rs 14.49 crore in FY23, profit after tax increased by 75% YoY to Rs 139.83 crore from Rs 79.72 crore the year before. EBITDA more than doubled from FY23 levels at Rs 186.18 Cr and Rs 398.58 Cr in FY24, almost reaching Rs 492 Cr in FY25.

As per investorgain.com, market sentiment, as reflected by the Grey Market Premium (GMP), indicates a potential listing gain for investors. The latest GMP of Rs 54 suggests an estimated listing price of Rs 386 per share, which represents a projected gain of approximately 16.27% over the issue's upper price band.