The wait is almost over for investors who applied for Vikram Solar’s Initial Public Offering (IPO). The basis of allotment for the ₹2,079.37 crores Vikram Solar IPO will be announced today, 22 August 2025, marking a crucial moment for one of India’s biggest solar companies going public.
Record-Breaking Investor Response
The IPO received a total subscription of 54.63 times during its three-day bidding window from August 19-21, 2025. This overwhelming response shows strong investor confidence in India’s growing solar energy sector. The initial share sale, with a price band of ₹315 to ₹332 per equity share, consists of new shares worth ₹1,500 crore and an offer for sale (OFS) aggregating to ₹579.37 crore.
The massive oversubscription means many retail and institutional investors will receive partial allotments or none at all, making the allotment process highly competitive.
How to Check Your Allotment Status
Investors can check their Vikram Solar IPO allotment status through multiple channels:
- NSE Website: Visit the National Stock Exchange’s IPO section
- BSE Portal: Check through Bombay Stock Exchange’s allotment page
- Registrar Website: MUFG Intime India handles the allotment process
- Mobile Apps: Most trading platforms offer IPO status checking features
You’ll need your PAN number and application number to verify your allotment status online.
About Vikram Solar: India’s Solar Giant
Incorporated in 2005, Vikram Solar is one of India’s largest solar photovoltaic (PV) module manufacturers with an installed capacity of 3.50 GW as of March 31, 2024. The Kolkata-based company has built an impressive track record over nearly two decades.
Key Company Statistics
Vikram Solar has more than 275 projects which have been executed or are under execution with an aggregate capacity of 1.03 GW, as of March 31, 2024. The company operates manufacturing facilities at Falta SEZ in Kolkata and Oragadam in Chennai.
Among pure-play non-captive manufacturers, Vikram Solar holds one of the largest enlisted capacities in the Ministry of New & Renewable Energy’s Approved List of Module Manufacturers (ALMM), with 2.85 GW enlisted as of 30 June 2025.
Quality Recognition and Global Presence
Vikram Solar was the first Indian solar manufacturer to be listed in PVEL PV Module Reliability Scorecard in 2017. This international recognition puts the company among the world’s most reliable solar module manufacturers.
The company has expanded its reach globally, operating across six continents. This international presence provides diversification and growth opportunities beyond the Indian market.
Listing Timeline and What’s Next
Vikram Solar IPO will list on BSE, NSE, with a tentative listing date fixed as Aug 26, 2025. Successful applicants will see shares credited to their demat accounts by August 25, 2025.
For investors who receive allotment, the listing day will be crucial. Market experts will closely watch how the stock performs compared to its issue price, especially given the strong subscription response.
Investment Outlook
India’s solar energy sector continues growing rapidly, driven by government policies and increasing corporate adoption of renewable energy. As one of the largest domestic manufacturers, Vikram Solar is well-positioned to benefit from this trend.
The company’s strong operational capacity, quality certifications, and global presence make it an interesting investment option for those looking to participate in India’s clean energy transition.
Whether you receive allotment or not, Vikram Solar’s IPO represents a significant milestone for India’s solar manufacturing sector and the broader renewable energy industry.
