Shares of Vikram Solar, one of India’s leading solar energy solutions provider, zoomed nearly 12% after modest debut on bourses on Tuesday.

Shares of Vikram Solar, one of India’s leading solar energy solutions provider, zoomed nearly 12 per cent after modest debut on bourses on Tuesday.

The much-awaited listing witnessed a modest premium of about 2 per cent over the IPO price of ₹332. The stock debuted at ₹340 on the BSE and at ₹338 on the NSE, respectively.

With shares opening slightly higher on both BSE and NSE and showing strong intraday momentum, Vikram Solar’s market entry highlights the growing confidence in India’s clean energy transition and the company’s role in driving sustainable power solutions.

Vikram Solar from Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., said, “Vikram Solar delivered a stable post-IPO performance, listing with modest gains, underscoring conservative yet sustainable investor confidence.”

According to Gaurav Garg, Lemonn Markets Desk, the intraday rally signalled underlying confidence in the company’s growth trajectory.

At 10.47 am, it zoomed to trade at ₹361.40 and ₹361.65 on the BSE and NSE, respectively, after hitting an intraday high above ₹371-mark.

Post-listing, Nyati advised investors to hold with a stop-loss set around ₹320–325 to manage downside risk, given the modest listing uplift and valuation headroom.

As a top-tier solar PV module manufacturer, Vikram Solar posted strong FY25 financials revenue and PAT more than doubling, with EBITDA margins nearing 15 per cent and significantly reduced debt.

“We believe that while near-term volatility cannot be ruled out, Vikram Solar’s strategic positioning in the renewable energy ecosystem, coupled with the government’s emphasis on domestic manufacturing under the “Atmanirbhar Bharat” initiative, makes it a compelling long-term play on India’s clean energy transition,” Garg added.

The ₹2,079-crore IPO garnered 54.63 times subscription on the last day of bidding and the price band was fixed at ₹315 to ₹332 per share. The company mobilised ₹621 crore from anchor investors. The IPO comprised of fresh issues of equities worth up to ₹1,500 crore and an offer for sale (OFS) of over 1.74 crore shares, valued at around ₹579.37 crore at the upper end of the price band, by its promoters.

The company specialises in producing solar photovoltaic (PV) modules and functions as an integrated solar energy solutions provider, delivering engineering, procurement and construction (EPC) services along with operations and maintenance (O&M) support.

Published on August 26, 2025