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.
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.
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.