Vikram Solar shares advance 4% on this fresh update; check details

The press release states that Vikram Solar, one of India's leading solar PV module manufacturers, has announced a major order of 200 MW high-efficiency solar modules from AB Energia, a specialist in end-to-end EPC solutions for commercial and industrial (C&I) solar projects.

The modules, rated at 590 Wp and above, will be deployed across Maharashtra, Madhya Pradesh, and Gujarat, three solar-progressive states that are accelerating their clean energy adoption.

As part of this order, Vikram Solar will supply its advanced M10R N-Type TOPCon modules, designed for superior performance, reliability, and higher energy yield. Deliveries are scheduled to begin in September 2025 and will continue through early 2026.

This latest order establishes the continued sense of confidence from AB Energia, reaffirming the partnership built on shared values, execution excellence, and a commitment to accelerating India’s renewable energy ambitions.

Commenting on the development, Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar, said: “We are proud to continue our collaboration with partners that share our vision for accelerating India’s renewable energy transition. This order not only reflects the continued trust from AB Energia in our technology and execution but also reinforces Vikram Solar’s position as a dependable and future-ready solar solutions provider. We remain committed to delivering high-performance products and building long-term partnerships that drive sustainable progress.”

Siddharth Bhatia, Managing Director & CEO, AB Energia Solutions Pvt. Ltd., “Our continued association with Vikram Solar reflects our shared assurance of engineering excellence and maximising value for our clients. With these new high-performance modules, AB Energia further reinforces its mission of delivering reliable, efficient, and future-ready solutions to power India’s clean energy ambitions. We look forward to executing these projects across key growth states, setting new benchmarks for project delivery, sustainability, and partnership in the solar EPC landscape.”

About Vikram Solar IPO and listing details

Solar module maker Vikram Solar's initial public offer garnered 54.63 times subscription on the last day of bidding. The IPO received bids for 2,47,81,57,740 shares against 4,53,61,650 shares on offer, as per NSE data.

The portion for qualified institutional buyers (QIBs) fetched a huge 142.79 times subscription. The part for non-institutional investors received 50.90 times subscription, while the quota for retail individual investors (RIIs) got subscribed 7.65 times.

Vikram Solar, ahead of the IPO, mobilised ₹621 crore from anchor investors.

The ₹2,079 crore initial public offering (IPO) had a price band of ₹315 to ₹332 per share.

The IPO included 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.

Of the fresh issuance, the company, it had said, plans to use the proceeds for funding capital expenditure for investment in its wholly owned subsidiary, VSL Green Power Private Ltd, for both Phase I and Phase II of the project.

Shares of Vikram Solar made a tepid market debut on the exchanges on August 26, 2025, listing with a premium of over 2% against the issue price of ₹332.

The stock opened for trading at ₹338, up by 2.41% on the NSE.

On the BSE, the stock listed at ₹340, up by 1.81%.

Vikram Solar Limited is one of the leading Indian solar module manufacturers, specialising in efficient photovoltaic (PV) module manufacturing, with an international presence across 39 countries. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturers in India, with a cumulative production capacity of 4.5 GW.

"Vikram Solar Limited has established a pan-India presence through an extensive distributor network of 83 authorised distributors, more than 250 dealers, and 76 system integrators," the press release says.

Vikram Solar Q1 FY26 Results

Vikram Solar reported a multi-fold rise in consolidated net profit to ₹133.4 crore for the June quarter (Q1FY26), backed by higher revenues.

The company said its net profit, or profit after tax (PAT), was ₹22.8 crore in the April-June period of the preceding 2024-25 financial year.

Its revenue for Q1 FY26 grew by 79.7% year-on-year to ₹1,133 crore from ₹630.9 crore logged a year ago, the company said in its first earnings report on Tuesday, after listing.

The company's order book stood at 10.96 GW as of June 30.

Vikram Solar CMD Gyanesh Chaudhary said FY26 has begun on a strong note, reflecting robust growth across revenue, profitability, and margins. Besides revenue, EBITDA has grown by an impressive 117.3% to Rs 242.2 crore.