Vikram Solar IPO GMP History
Vikram Solar IPO has been listed on August 26, 2025 at a listing price of ₹338, against the issue price of ₹332 — a gain of ₹6 (+1.81%). The GMP peaked at ₹65 on 13 August 2025 and reached a low of ₹34 on 26 August 2025. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Vikram Solar IPO raised ₹2079.37 Cr. through its IPO at a price band of ₹315 to ₹332 per share, with a lot size of 45 shares. The IPO was open for subscription from 19 Aug 2025 to 21 Aug 2025.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 10 Nov, 5:58 AM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 26 Aug 2025 | ₹ 34 | ▼ | 10% | — | — |
| 25 Aug 2025 | ₹ 37 | ▼ | 11% | — | — |
| 24 Aug 2025 | ₹ 40 | — | 12% | — | — |
| 22 Aug 2025 | ₹ 40 | ▼ | 12% | — | — |
| 21 Aug 2025 | ₹ 48 | ▲ | 14% | — | — |
| 20 Aug 2025 | ₹ 41 | ▼ | 12% | — | — |
| 19 Aug 2025 | ₹ 47 | ▼ | 14% | — | — |
| 17 Aug 2025 | ₹ 60 | ▲ | 18% | — | — |
| 15 Aug 2025 | ₹ 56 | ▼ | 17% | — | — |
| 13 Aug 2025 | ₹ 65 | — | 20% | — | — |
Vikram Solar IPO dates
Key dates from opening to listing. Today is 10 November.
- Open 19 Aug 2025
- Close 21 Aug 2025
- Allotment 22 Aug 2025
- Refund/credit 25 Aug 2025
- Listing 26 Aug 2025
Vikram Solar IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹332 |
|---|---|
| GMP-based estimate (pre-listing) | ₹366 (+10.2%) |
| Listing gain / loss | +₹6 per share |
| Listing date | 26 Aug, 2025 |
| Actual listing price | ₹338 (+1.81%) |
Is Vikram Solar IPO GMP reliable?
Grey market premium for Vikram Solar IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Vikram Solar IPO full review for a fundamentals-based assessment before making any grey market trades.
Vikram Solar IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Vikram Solar IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Vikram Solar IPO
Vikram Solar Limited was incorporated in 2005. It makes high-efficiency solar photovoltaic modules for Indian and overseas markets. The range includes PERC modules and n-type modules.
The company also provides engineering, procurement and construction services for solar projects. It offers operations and maintenance services for solar power installations.
The promoters are Gyanesh Chaudhary, the Gyanesh Chaudhary Family Trust and Vikram Capital Management.
The IPO was Rs 2,079.37 crore, with Rs 1,500.00 crore of fresh issue and Rs 579.37 crore of offer for sale. Rs 769.73 crore was planned for the Phase-I project and Rs 595.21 crore for the Phase-II project.
Frequently asked
What is the GMP of Vikram Solar IPO?
The current Grey Market Premium (GMP) of Vikram Solar IPO is ₹ 34.
What is the Kostak Price of Vikram Solar IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Vikram Solar IPO is not available.
What is the Subject to Sauda Price of Vikram Solar IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Vikram Solar IPO?
Vikram Solar IPO listed on August 26, 2025 at ₹338, against the issue price of ₹332 — a gain of +1.81%.
How did the GMP of Vikram Solar IPO trend before listing?
The GMP of Vikram Solar IPO was falling in its final days before listing. The GMP peaked at ₹65 on 13 August 2025. View the day-wise table above for the complete GMP history.
Explore Vikram Solar IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
