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Solar energy solutions provider Vikram Solar is set to debut in the secondary market tentatively on Tuesday, August 26, after the Kolkata-headquartered company’s initial public offer concluded last Thursday with a total subscription of 54.6 times. Zee Business Managing Editor Anil Singhvi recommended applying for the IPO for listing gains and from a medium-term perspective.

Here’s everything to know about Vikram Solar:

Singhvi has identified the following key points about Vikram Solar:

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Positive:

Negative: 

ALSO READ: Vikram Solar IPO Final Day: Rs 2,000 crore issue subscribed over 54 times

Vikram Solar IPO

The IPO -- comprising fresh issuance of Rs 1,500 crore and an offer for sale (OFS) to the tune of Rs 579 crore -- was open for subscription from August 19 to August 21.

According to provisional exchange data, the portions set aside for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) were booked 142.8 and 50.9 times, respectively.

The portion reserved for retail individual investors (RIIs) saw a subscription of 7.7 times the equity on offer, according to the data.

For the financial year 2024-25, Vikram Solar registered a net profit of Rs 139.8 crore with a top line of Rs 2,832.2 crore, according to the red herring prospectus. For the previous year, the company’s net profit had stood at Rs 79.7 crore with Rs 2,585.5 crore in revenue. 

Waaree Energies, Premier Energies and Websol Energy System are going to be some of the secondary market-bound stock’s listed peers.

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