Vikram Solar Shares Hit All-Time Low, Down 30% From IPO; Competition, Growth Concerns

• Vikram Solar's share price is at an all-time low, trading around ₹234, down ~30% from its IPO price of ₹332.
• The stock has fallen 42% from its all-time high of ₹408, despite its IPO receiving a bumper 56.4x subscription.
• Key concerns include intense industry competition and rapid capacity expansion by rivals.
• Vikram Solar's production capacity (4.5 GW) is significantly lower than major competitors (e.g., Waaree Energies 15 GW, Goldi Solar 14 GW).
• The company also lags in growth, with a Q2FY26 EBITDA margin of 21% compared to peers like Premier Energies and Waaree Energies at 31%.

Why It Matters: Investors face losses as Vikram Solar's stock plummets due to competition and low growth.