Vikram Solar IPO Subscription
ListedUpdated 26 August 2025, 9:15 AM IST· Mainboard
Vikram Solar IPO subscription closed on 21 August 2025 at 56.42x overall by shares. QIB demand came in at 145.10x, NII at 52.88x, and retail at 7.95x. See Retail, SHNI, and BHNI allotment chances in the table below.
Allotment date is 22 August 2025. Listing date on NSE and BSE is 26 August 2025.
Vikram Solar IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 19 Aug 2025 | 0.02x | 3.99x | 1.43x | 1.57x |
| Day 2 - 20 Aug 2025 | 0.12x | 13.51x | 3.62x | 4.73x |
| Day 3 - 21 Aug 2025 | 145.10x | 52.87x | 7.98x | 56.42x |
Vikram Solar IPO Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
Vikram Solar IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail | 6.68x | 1 in 7 |
| SHNI (Rs 2L to Rs 10L) | 38.23x | 1 in 38 |
| BHNI (above Rs 10L) | 12.25x | 1 in 12 |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the Vikram Solar IPO Allotment Status page from 22 August 2025 for your result.
Vikram Solar IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 332.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 413.87 Cr | Rs 60,052.72 Cr | 145.10x |
| FII | - | Rs 18,258.54 Cr | - |
| DFI | - | Rs 28,757.19 Cr | - |
| Mutual Funds | - | Rs 2,324.38 Cr | - |
| Other | - | Rs 10,712.61 Cr | - |
| NII | Rs 310.41 Cr | Rs 16,413.46 Cr | 52.88x |
| bNII (above Rs 10L) | Rs 206.94 Cr | Rs 12,329.16 Cr | 59.58x |
| Corporate | - | Rs 137.23 Cr | - |
| Individual | - | Rs 11,532.05 Cr | - |
| Other | - | Rs 659.87 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 103.47 Cr | Rs 4,084.30 Cr | 39.47x |
| Corporate | - | Rs 12.80 Cr | - |
| Individual | - | Rs 3,869.03 Cr | - |
| Other | - | Rs 202.47 Cr | - |
| Retail | Rs 724.28 Cr | Rs 5,757.64 Cr | 7.95x |
| Cut-off price | - | Rs 4,690.25 Cr | - |
| Fixed price | - | Rs 1,067.39 Cr | - |
| Employee | Rs 10.00 Cr | Rs 51.03 Cr | 5.10x |
| Cut-off price | - | Rs 41.96 Cr | - |
| Fixed price | - | Rs 9.07 Cr | - |
| Total | Rs 1,458.56 Cr | Rs 82,274.84 Cr | 56.41x |
Vikram Solar IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 1,24,66,080 | 2,330 | 0.00x |
| FII | - | 126 | - |
| DFI | - | 80 | - |
| Mutual Funds | - | 308 | - |
| Other | - | 1,816 | - |
| NII | 14,841 | 3,10,285 | 20.91x |
| bNII (above Rs 10L) | 9,894 | 1,21,181 | 12.25x |
| Corporate | - | 1,160 | - |
| Individual | - | 1,13,476 | - |
| Other | - | 6,545 | - |
| sNII (Rs 2L to Rs 10L) | 4,947 | 1,89,104 | 38.23x |
| Corporate | - | 505 | - |
| Individual | - | 1,79,109 | - |
| Other | - | 9,490 | - |
| Retail | 4,84,792 | 32,38,731 | 6.68x |
| Cut-off price | - | 26,20,364 | - |
| Fixed price | - | 6,18,367 | - |
| Employee | 6,693 | 25,895 | 3.87x |
| Cut-off price | - | 21,721 | - |
| Fixed price | - | 4,174 | - |
| Total | 1,29,72,406 | 35,77,241 | 0.28x |
What Do These Subscription Numbers Mean?
56.42x overall by shares means bids covered about 56 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 145.10x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (20.91x by applications). Split: SHNI 38.23x, BHNI 12.25x by applications. SHNI and BHNI allotment is by lottery.
At 6.68x subscription by applications, about 1 in 7 retail applicants may get allotment (~15% chance per application). Retail allotment is also by lottery.
Vikram Solar IPO GMP After Subscription
GMP for Vikram Solar IPO stands at Rs 37.00 today, giving an estimated listing price of Rs 369.00 per share.
A subscription of 56.42x combined with a GMP of 11.14% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the Vikram Solar IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
Vikram Solar IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 19 August 2025 |
| IPO Close Date | 21 August 2025 |
| Allotment Date | 22 August 2025 |
| Refund Initiation | 23 August 2025 |
| Share Credit to Demat | 23 August 2025 |
| Listing Date | 26 August 2025 |
| Minimum Investment | Rs 14,940.00 |
| Lot Size | 45 shares |
About Vikram Solar IPO
Vikram Solar Limited, founded in 2005, is a globally recognized solar photovoltaic (PV) module manufacturer and one of India’s leading solar energy solutions providers. The company operates across the entire solar value chain, offering Solar PV Module Manufacturing, EPC (Engineering, Procurement, and Construction) services for turnkey solar power projects, and O&M (Operations & Maintenance) services. As of March 31, 2024, the company had a manufacturing capacity of 4.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
Retail - Retail Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
Vikram Solar IPO IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Vikram Solar IPO Details
Issue size, price, financials, and company info
Vikram Solar IPO GMP
Live grey market premium and listing estimate
Vikram Solar IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Vikram Solar IPO Allotment
Allotment date, chances, and check by PAN
Vikram Solar IPO Review
SWOT, strengths, risks, and IPO review
Vikram Solar IPO FAQ
Common questions on dates, GMP, and allotment
Vikram Solar IPO Registrar
Registrar website and how to check allotment
Vikram Solar IPO Timeline
Open, close, allotment, and listing dates
Vikram Solar IPO News
Updates, blogs, and latest IPO news
Vikram Solar IPO Subscription FAQs
What is Vikram Solar IPO subscription status today?
Vikram Solar IPO subscription closed on 21 August 2025 with overall subscription of 56.42x (by shares) as of 18 October 2026, 2:01 PM IST. QIB 145.10x, NII 20.91x, Retail 6.68x.
What is the overall subscription of Vikram Solar IPO?
Vikram Solar IPO is subscribed 56.42x overall by shares at close on 21 August 2025. QIB 145.10x, NII 20.91x, and Retail 6.68x.
What is Vikram Solar IPO QIB subscription?
Vikram Solar IPO QIB (Qualified Institutional Buyers) subscription is 145.10x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Vikram Solar IPO Retail subscription?
Vikram Solar IPO Retail subscription is 6.68x by applications. Retail bids are up to Rs 2 lakh per PAN.
What is Vikram Solar IPO NII, SHNI, and BHNI subscription?
Vikram Solar IPO NII subscription is 20.91x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 38.23x and BHNI (above Rs 10L) at 12.25x.
What are Vikram Solar IPO retail allotment chances?
At 6.68x subscription by applications, about 1 in 7 retail applicants may get allotment (~15% chance per application). Allotment is by lottery. Share subscription was 7.95x. Allotment chances use applications, not share volume.
What are Vikram Solar IPO SHNI allotment chances?
At 38.23x subscription by applications, about 1 in 38 SHNI applicants may get allotment (~3% chance per application). Allotment is by lottery. Share subscription was 39.47x. Allotment chances use applications, not share volume.
What are Vikram Solar IPO BHNI allotment chances?
At 12.25x subscription by applications, about 1 in 12 BHNI applicants may get allotment (~8% chance per application). Allotment is by lottery. Share subscription was 59.58x. Allotment chances use applications, not share volume.
When is Vikram Solar IPO allotment date?
Vikram Solar IPO allotment date is 22 August 2025. Check Vikram Solar IPO Allotment Status on IPOwiz from that day using your PAN.
When does Vikram Solar IPO subscription close?
Vikram Solar IPO subscription closed on 21 August 2025. No new applications are accepted after the close.
What is Vikram Solar IPO GMP today?
Vikram Solar IPO GMP is ₹37 today (+11.14% over issue price ₹332). See live GMP on the Vikram Solar IPO GMP Today page.
What is Vikram Solar IPO issue price and lot size?
Vikram Solar IPO issue price is ₹332 per share. Lot size is 45 shares. Minimum investment is ₹14,940 per lot. Issue size: ₹2079.37 Cr.
When is Vikram Solar IPO listing date?
Vikram Solar IPO listing date is 26 August 2025 on NSE and BSE. Allotment is on 22 August 2025.
How does subscription affect Vikram Solar IPO allotment?
In Vikram Solar IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. At 56.42x overall, competition is very high.
For allotment results from 22 August 2025, visit the Vikram Solar IPO Allotment Status page. For listing day updates on 26 August 2025, download the IPOwiz App.
Sources
We match Vikram Solar IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.