Comparison between Vikram Solar IPO and VMS TMT IPO.
Vikram Solar IPO is a Mainboard Bookbuilding IPO proposed to list at BSE, NSE while VMS TMT IPO is a Mainboard Bookbuilding proposed to list at BSE, NSE.
The total issue size of Vikram Solar IPO is up to ₹2,079.37 Cr whereas the issue size of the VMS TMT IPO is up to ₹148.50 Cr. The final issue price of Vikram Solar IPO is ₹332.00 per share and of VMS TMT IPO is ₹99.00 per share.
| Vikram Solar IPO | VMS TMT IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹315.00 per share | ₹94.00 per share |
| Issue Price (Upper) | ₹332.00 per share | ₹99.00 per share |
| Issue Price (Final) | ₹332.00 per share | ₹99.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 45 shares | 150 shares |
| Fresh Issue Size | 4,51,80,722 shares | 1,50,00,000 shares |
| Fresh Issue Size (Amount) | up to ₹1,500.00 Cr | up to ₹148.50 Cr |
| OFS Issue Size | 1,74,50,882 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹579.37 Cr | up to ₹0.00 Cr |
| Issue Size Total | 6,26,31,604 shares | 1,50,00,000 shares |
| Issue Size Total (Amount) | up to ₹2,079.37 Cr | up to ₹148.50 Cr |
Vikram Solar IPO opens on Aug 19, 2025, while VMS TMT IPO opens on Sep 17, 2025. The closing date of Vikram Solar IPO and VMS TMT IPO is Aug 21, 2025, and Sep 19, 2025, respectively.
| Vikram Solar IPO | VMS TMT IPO | |
|---|---|---|
| Anchor Bid Date | Aug 18, 2025 | Sep 16, 2025 |
| Issue Open | Aug 19, 2025 | Sep 17, 2025 |
| Issue Close | Aug 21, 2025 | Sep 19, 2025 |
| Basis Of Allotment (Tentative) | Aug 22, 2025 | Sep 22, 2025 |
| Initiation of Refunds (Tentative) | Aug 25, 2025 | Sep 23, 2025 |
| Credit of Share (Tentative) | Aug 25, 2025 | Sep 23, 2025 |
| Listing date (Tentative) | Aug 26, 2025 | Sep 24, 2025 |
| Anchor Lockin End date 1 | Sep 20, 2025 | Oct 21, 2025 |
| Anchor Lockin End date 2 | Nov 19, 2025 | Dec 20, 2025 |
Vikram Solar IPO P/E ratio is 75.16, as compared to VMS TMT IPO P/E ratio of 22.24.
| Vikram Solar IPO | VMS TMT IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Financials | Company Financials (Restated Consolidated)Vikram Solar Ltd.'s revenue increased by 37% and profit after tax (PAT) rose by 75% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Consolidated)VMS TMT Ltd.'s revenue decreased by 12% and profit after tax (PAT) rose by 14% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 77.64 | 96.28 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 63.11 | 67.19 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 75.16 | 22.24 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹12009.01 Cr. | ₹491.35 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 16.57% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 24.49% | 12.79% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.19 | 3.77 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹4.42 | ₹4.45 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 11.26% | 20.14% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Vikram Solar IPO Retail Individual Investors (RII) are offered 2,18,15,640 shares while in VMS TMT IPO retail investors are offered 2,18,15,640 shares. Qualified Institutional Buyers (QIB) are offered 1,24,66,080 shares in Vikram Solar IPO and 18,00,000 shares in VMS TMT IPO.
| Vikram Solar IPO | VMS TMT IPO | |
|---|---|---|
| Anchor Investor Reservation | 1,86,99,120 shares | 27,00,000 shares |
| Market Maker Reservation | 0 shares | 0 shares |
| QIB | 1,24,66,080 shares | 18,00,000 shares |
| NII | 93,49,560 shares | 30,00,000 shares |
| RII | 2,18,15,640 shares | 75,00,000 shares |
| Employee | 3,01,204 shares | 0 shares |
| Others | ||
| Total | 6,26,31,604 shares | 1,50,00,000 shares |
Vikram Solar IPO subscribed 56.42x in total, whereas VMS TMT IPO subscribed 102.24x.
| Vikram Solar IPO | VMS TMT IPO | |
|---|---|---|
| QIB (times) | 145.10x | 120.80x |
| NII (times) | 52.87x | 227.08x |
| Big NII (times) | 59.58x | 243.91x |
| Small NII (times) | 39.46x | 193.46x |
| RII (times) | 7.98x | 47.85x |
| Employee (times) | 5.10x | |
| Other (times) | ||
| Total (times) | 56.42x | 102.24x |
