Vikram Solar Share

Vikram Solar Limited, one of India’s leading solar PV module manufacturers, made a strong debut in the stock market in August 2025. The company’s share price as of August 26, 2025, trades around ₹356 to ₹358, up from its IPO issue price of ₹332, signaling strong investor confidence and robust market demand.

Overview of Vikram Solar Limited

Founded in 2005, Vikram Solar has grown to be a major player in the renewable energy sector, offering cutting-edge solar PV modules along with EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) services. As of August 2025, the company boasts a market capitalization of approximately ₹12,892 crore.

Financial Highlights 2024-25

  • Revenue surged 37% from ₹2,524 crore in FY 2024 to ₹3,459 crore in FY 2025.
  • Profit after tax (PAT) jumped 75% to ₹139.8 crore.
  • Operating profit and EBITDA saw significant growth, underscoring strong operational efficiency.
  • Return on capital employed (ROCE) stands at an impressive 26.4%, with return on equity (ROE) at 16.6%.

These financials reflect Vikram Solar’s rapid growth amid India’s expanding renewable energy market.

Successful IPO and Market Listing

Vikram Solar’s IPO was highly successful, being oversubscribed 54.63 times overall. The IPO price band was set between ₹315 and ₹332 per share, raising ₹2,079 crore through a mix of fresh issue and offer for sale shares.

Key IPO highlights:

  • IPO opened August 19, 2025, and closed on August 21, 2025.
  • Shares debuted on NSE at ₹338, a 1.81% premium, and on BSE at ₹340, a 2.4% premium over the issue price.
  • Subscriber categories included strong participation from qualified institutional buyers (QIBs) (142.79x subscription), non-institutional investors (50.90x), and retail investors (7.65x).
  • Market cap post-listing stood near ₹12,837 crore.

The stock price touched intraday highs around ₹381.65, reflecting continuous market optimism.

Growth Potential and Future Outlook

Vikram Solar plans aggressive capacity expansion with:

  • Solar module manufacturing capacity target of 20.5 GW by FY 2027.
  • Solar cell production capacity of 12 GW by FY 2027 with new units in Tamil Nadu.
  • Venture into Battery Energy Storage Systems (BESS) with initial 1.00 GWh capacity, expandable to 5.00 GWh.

The company’s client roster includes major energy giants such as NTPC, Adani Green, JSW Energy, and ACME, positioning it well in India’s solar energy growth story.

With a current high P/E ratio (~80+), the stock represents expected growth potential amid the booming renewables sector, supported by low debt and consistent earnings growth.

Conclusion: Strong Investment Opportunity in Renewable Energy

Vikram Solar’s IPO and stock market performance underline its position as a fast-growing company in the solar energy space. Its robust financials, expansive growth plans, and strong market interest offer investors a compelling opportunity in India’s clean energy transition.

With a recent share price range between ₹350-360 and highs touching nearly ₹382, Vikram Solar is well-placed for continued growth, making it an attractive pick for investors focused on renewable energies and sustainable investments.