Vikram Solar Share Price in Focus: 103.9 Million Shares Set for Lock-in Expiry

On Monday, February 23, 2026, Vikram Solar share price is on investors’ radar as the company’s 6-month shareholder lock-in period concludes. The expiry signals a major chunk of equity eligible for trading in the open market.

According to Nuvama Alternative & Quantitative Research, nearly 103.9 million shares, representing 29% of the company’s outstanding equity, will become tradable following the lock-in expiry. 

However, the end of the lock-in period does not necessarily imply an immediate sell-off. It simply allows previously restricted shareholders the option to trade their holdings.

Muted Listing and Sharp Correction

Vikram Solar had a modest debut on Dalal Street in August 2025. The stock listed at ₹340 on the BSE, a 2.4% premium over its IPO price of ₹332, and at ₹338 on the National Stock Exchange of India, reflecting a 1.81% premium.

After witnessing gains post-listing, the stock has since seen a steep correction. It is currently trading around ₹192.36, about 53% below its post-listing peak, 42% lower than its IPO price, and just over 2% above its 52-week low of ₹188.25.

Vikram Solar Q3FY26 Earnings Highlights

Vikram Solar posted robust earnings for the December quarter. Revenue rose sharply to ₹1,106 crore, while EBITDA more than doubled to ₹205 crore. The company highlighted a one-time labour code impact of ₹56 crore during the quarter. Net profit surged to ₹98 crore, compared to ₹19 crore in the same period last year. As of the December quarter, promoters held a 63.12% stake in the company.

Commenting on the performance, Mr Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar Limited, said, “During this quarter, we delivered a resilient and disciplined performance, anchored by strong execution volumes and continued improvements in operating efficiency. Revenues grew 8% year-on-year, reflecting the steady scale-up of our manufacturing operations and our ability to execute consistently in a dynamic market environment. 

The broader solar industry continues to be firmly positioned for long-term growth, supported by robust demand fundamentals, enabling policy frameworks, and a growing shift toward high-efficiency and technologically advanced solutions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.