Vikram Solar Limited

Nuvama Contribution:

Nuvama emerged as the top-performing bank in the anchor book, with the largest share of allocation in a 5 bank syndicate, commanding 34% of the Anchor book
Nuvama drove the entire demand momentum and led the procurement by bringing in key & leading cornerstone investors that built confidence in launching the deal
Nuvama mobilized interest from a diverse investor base, including marquee long-only FIIs , mutual funds, and insurance companies
This is Nuvama’s 9^th IPO in the Industrials & Infrastructure space closed in the last 12 months and 4^th IPO in the Renewables space since Nov’24.
With this IPO, Nuvama continues its dominance in taking Industrial Stories to the Indian capital markets and remains a “Banker of Choice” for Industrials & Infrastructure IPOs^*

Vikram Solar is one of the largest solar module manufacturers in India, with an annual module manufacturing capacity of 4.5 GW and a robust order book of 10.3 GW
Deal saw strong participation across investor categories garnering more than INR 82,000 crs^# – QIB: ~145x^#, HNI: ~53x^#, Retail: ~8x^#
It is among the Top 5 highest subscribed IPOs in FY26 and Top 3 highest subscribed IPOs in the QIB category since Jan’25 for issues above INR 500 crs

^{*Oct 2024 onwards}
^#^{Before Technical Rejections}